KCCP awards big companies grades for their partnerships

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KCCP awards big companies grades for their partnerships

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Hyundai Motor, Samsung Electronics and 23 other conglomerates in Korea were found to have cooperated well with their smaller business partners and suppliers, the Korea Commission for Corporate Partnership (KCCP) said Thursday.

The KCCP announced its annual “win-win” partnership evaluations of 133 big companies in Korea on how well they promoted mutual growth with small and midsize firms, and 25 received the highest grade out of four levels.

Samsung Electronics, the country’s biggest tech company, got an A grade for the fifth year in a row, while SK Group affiliates such as SK Global Chemical and SK Telecom got the highest score for four consecutive years. Kia Motors and Hyundai Motor received the top rank for three straight years.

CJ CheilJedang, Korea’s leading food manufacturer, received the top grade, the first company in the food industry to do so.

Industry rivals Nongshim and Lotte Foods got Bs. Food company Ottogi, best known for its ready-to-go curry products, received a C, while Samlip General Foods received the lowest D grade.

The evaluations are based on what is called a win-win index that aggregates data from two categories: the Fair Trade Commission’s assessment on how the conglomerates have carried out partnership agreements made with smaller business partners and the KCCP’s survey of small and medium-size companies on any unfair trade practices in their business partnerships.

The KCCP has been carrying out such evaluations since 2011 to promote more effective relationships among big and small companies.

Companies who get As and Bs receive incentives from government organizations.

The Fair Trade Commission will exempt ex officio investigations of companies that received A grades for two years and one year for B-grade companies.

The National Tax Service is going to give higher points to A-grade recipients when they select exemplary tax-paying companies.

Korea’s top search engine, Naver, which participated in the evaluation for the first time, got a B along with Hyundai Mobis, Renault Samsung Motors and AmorePacific.

Three department store brands were included in the B grade: Lotte, Shinsegae and Hyundai department stores.

In the C strata were Korean Air, Ssangyong Motor and Hanwha Chemical among others.

Three home-shopping brands out of four - Lotte Home Shopping, CJ O Shopping and Hyundai Home Shopping - received Cs.

GS Home Shopping, on the other hand, got a B.

KCC Corporation, a building materials company, showed the biggest improvement this year, jumping from a C grade to an A.


BY JIN EUN-SOO [jin.eunsoo@joongang.co.kr]




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