Sharing trends, systems, and cases of win-win management
Introduction to trends and cases in subcontracting law
On the 6th, LG Innotek held a 'Joint Growth Academy' for innovative management for approximately 150 representatives and executives of partner companies at the Gold Family Condo in Yongin-si, Gyeonggi-do.

The "Mutual Growth Academy" is a collaborative initiative that provides management training programs to executives of partner companies. It shares the latest trends and information in fields such as management, economics, law, and the humanities. Now in its fifth year, this event was organized by LG Innotek and the Large, Small, and Agricultural Cooperative Foundation to promote a culture of mutual growth.

LG Innotek believes that the source of its innovative management is shared growth with its partners. Therefore, it focuses on sharing the latest win-win management trends, systems, and practices. This is to ensure that these win-win initiatives lead to tangible business results.

Professor Kim Ki-chan of Catholic University, who presented on the topic of “Symbiotic Management and Corporate Ecosystem,” emphasized, “We must expand the synergy platform where national research institutes, large corporations, and partner companies can create synergy in overseas markets.”

Along with this, the mutual payment system operated by the Ministry of SMEs and Startups was introduced. Mutual Payment is a system that allows partners to cash out accounts receivable received from large corporations and public institutions at banks at low interest rates. Partners can reduce financing costs by receiving interest rates comparable to those of large corporations, and minimize their financial burden by quickly cashing out accounts receivable.

LG Innotek shared its "Partner Idea Suggestion System." This system allows partners to freely propose projects in areas such as new product development, joint overseas expansion, and process and performance improvements. Partners can proactively propose projects through a dedicated system and monitor progress and results in real time. Selected projects will be implemented as joint projects with LG Innotek, and the outcomes will be attributed to both companies according to pre-agreed criteria.

The collaborative efforts between LG Innotek and its partner, Mtake, drew significant attention from attendees. Mtake recently successfully developed a portable UV LED sterilizer that eliminates germs on everyday items like toothbrushes and phones, leveraging LG Innotek's patented technology and UV-C LEDs.

Pacific Law Firm presented "Subcontracting Law Trends and Cases." It provided easy-to-understand explanations of legal knowledge helpful in resolving business issues, using case studies.

In addition, LG Innotek has established a platform for communication with its partners. Along with introducing its shared growth system, it held discussions between purchasing department heads and partners, gathering diverse opinions from them.

Lee Yong-gi, LG Innotek’s purchasing manager, said, “In addition to financial support, including this year’s KRW 63 billion shared growth fund, we are actively pursuing shared growth in the areas of management, technology, and education,” and “We will continue to establish and promote various win-win systems for our partners.”

LG Innotek received the highest rating in the Shared Growth Index evaluation for the second consecutive year.