By Park Si-soo
Samsung Electronics, Hyundai Motor, POSCO and 16 other big companies were found to have an A-class “win-win relationship” with suppliers and smaller business partners in a multi-source evaluation of 112 companies by the Korea Commission for Corporate Partnership (KCCP).
The 16 firms were Kia Motors, Samsung Electro-Mechanics, Coway, Hyundai Dymos, Hyundai Mipo Dockyard, Hyundai Samho, KT, LG Display, LG Household and Skincare, LG Uplus, LG Electronics, LG CNS, SK Engineering and Construction, SK Global Chemical, SK Telecom and SK C&C.
The evaluation is aimed at encouraging big companies to share growth with smaller companies.
“Things are getting better. We are happy with this,” a KCCP spokesman said, Tuesday. “The latest findings show that an increasing number of CEOs are aware of the importance of win-win growth with suppliers.”
The KCCP has carried out the evaluation annually since 2011. The average score was 79.4 in 2014, up 3.5 points from the previous year.
Nine companies joined the best-performing group for the first time this year ― Hyundai Dymos, KT, LG Display, LG Household and Skincare, LG Uplus, LG Electronics, LG CNS, SK Engineering and Construction and SK C&C.
The B class had 37 companies, the C class had 42 companies and D class 14 companies.
The D-class performers were Hanaro Mart, Duckyang Ind., Dongbu Steel, Dongwon F&B, Lotte Homeshopping, S&T Motive, Ottogi, E-Land Retail, E-Land World, Taekwang, Ministop, 3M Korea, Hansol Technics and CJ O Shopping.
The KCCP said the retail industry had fallen behind other industries in terms of fair trading, but the latest research found that the gap has been narrowed.
Three big retailers ― Lotte Mart, Shinsegae Department Store and GS Retail ― landed in B class this year. The C class had nine retailers ― Lotte Department Store, Lotte Super, E-Mart, Korea Seven, Hyundai Department Store, Hyundai Homeshopping, Home plus, BGF Retail and GS Homeshopping.
“It still has a long way to go,” the spokesman said. “But we have bright outlook because an increasing number of retailers are aware of the importance of fair trade with suppliers.”