By Kim Yoo-chul
Samsung Group is vowing to strengthen its commitment toward mutual growth with subcontractors and local communities.
Its shared growth programs include more financial support for its smaller business providers and hiring more graduates from vocational and regional schools.
Samsung Electronics, the kingpin of the conglomerate’s corporate lineup, has collaborated with the Federation of Korean Industries (FKI) and the Korea Federation of Small and Medium Business (KBIZ) on a job fair for youngsters currently being held at the KINTEX Convention Center in Goyang, Gyeonggi Province.
Samsung affiliates and its business partners are planning to hire nearly 1,700 people from the job fair alone, including 700 in research and development (R&D). Key affiliates, including Samsung Electronics, Samsung Display, Samsung SDI, Samsung Electro-Mechanics, Samsung Engineering, Samsung SDS and Samsung Heavy will also be looking for young talent.
``This event was organized to help small companies, including our subcontractors, which have been struggling to hire skilled workers. We hope the event becomes the ideal symbol for shared growth,’’ said Choi Byung-suk, executive vice president for Samsung Electronics’ business partner relations.
The government is pushing large companies to adjust their relationship with contractors and suppliers in a drive to help small- and medium-sized companies and inspire entrepreneurship, as well as create more jobs for graduates and school leavers.
Around 400 students from Suwon Hi-tech High School and 100 students from Duwon College, a small college offering a two-year program were interviewed by job coordinators.
Samsung’s program to help its suppliers is becoming healthier. The company has jointly created a $220 million fund with the Korea Development Bank in order to provide capital for the company’s subcontractors at a low interest rate.