President Lee hosts 'Mutual Growth Dialogue with Business Leaders' to expand best practices between large and small firms

The Financial News reported that President Lee Jae Myung will on the 10th chair a roundtable at Cheong Wa Dae titled "Dialogue with Business Leaders Practicing Mutual Growth." Held under the slogan "Seeds of Mutual Cooperation, Blooming into Growth for All," the meeting aims to commend exemplary large and small companies that excel in mutual cooperation and to spread their best practices.
A total of 36 participants are expected to attend. From the private sector, representatives from Samsung Electronics, the SUPEX Council, Hyundai Motor Company, Hanwha Ocean, Naver and other large corporations known for practicing mutual growth will join their partner small and medium-sized enterprises, along with relevant experts. From the government, the Deputy Prime Minister and Minister of Finance and Economy, the Ministers of the Ministry of SMEs and Startups and the Ministry of National Defense of the Republic of Korea, the Chief of Staff to the President of the Republic of Korea, the Chief Presidential Secretary for Policy, and the Senior Presidential Secretary for Economic Growth will also take part.
Following opening remarks by the president, the Ministry of SMEs and Startups will present a "Strategy to Expand the Mutual Growth Ecosystem Between Large and Small Enterprises." The session will then move on to presentations of outstanding cooperation cases by companies practicing mutual growth, followed by an open discussion. Participating business leaders plan to share on-the-ground examples such as sharing performance gains with partner firms to strengthen supply chain competitiveness, consulting support for building smart factories to help small firms transition to artificial intelligence (AX), programs to discover local youth and support local start-ups, and projects that assist small merchants in their digital transformation. They will also propose a range of ideas to further develop the mutual growth ecosystem.
Case presentations at the roundtable will be given by the following partnerships: Hanwha Ocean and Daewon Industrial; Korea Aerospace Industries (KAI) and Mirae Aviation; Samsung Electronics and Hong Seong Saneop; the SUPEX Council and Looktoo; Hyundai Motor Company and Poonggang; LG Electronics and Hudson AI; Naver and Momos Coffee; CJ ENM and Yeongpung; Shinhan Financial Group and Moyusa; and Pulmuone Foods and Ucheon Foods.
Looking at specific examples, in the area of performance sharing, Hanwha Ocean has become the first in the shipbuilding industry to pay bonuses to employees of partner firms at the same rate as its own employees. It also operates welfare programs such as tuition support for skilled workers at partner companies. As a result, partners including Daewon Industrial have been able to retain experienced workers and secure competitiveness, which in turn has led to a virtuous cycle of stronger competitiveness across the entire supply chain.
In the defense sector, Korea Aerospace Industries (KAI) has supported low-credit partner companies with emergency management stabilization funds and low-interest loans for facility investments. It has also contributed to a joint employee welfare fund to help key personnel at partner firms remain in their positions over the long term.
From the perspective of mutual-growth smart factories, Samsung Electronics is dispatching manufacturing experts to the sites of small and medium-sized enterprises to help them build smart factories. These experts support process innovation, automation, and market development in order to strengthen the manufacturing competitiveness of smaller firms.
In terms of regional mutual growth, SK Group has implemented the "Localize Gunsan" program, discovering 26 start-up teams in the Gunsan area and providing them with commercialization funds, education, and mentoring. From an environmental, social and governance (ESG) standpoint in the supply chain, Hyundai Motor Company has signed a mutual growth agreement with its partners to reduce carbon emissions across the supply chain. It supports the introduction of carbon-reduction facilities and provides ESG education and consulting, helping partner firms transition to eco-friendly management.
From an open innovation perspective, LG Electronics has promoted one-on-one joint projects with start-ups through the "Super-Gap AI Challenge," offering access to its research and development infrastructure and support for global commercialization. Naver, through "Project Flower" and "Naver Impact," has been providing online sales solutions and training for small business owners, thereby supporting their digital transformation. In addition, Shinhan Financial Group has contributed 10 billion won to the Mutual Growth Cooperation Fund to help small and medium-sized enterprises cope with workforce management challenges and to address the broader social issue of low birth rates. When SMEs hire replacement workers, the fund helps cover their labor costs.
An official from Cheong Wa Dae stated, "The government will continue to promote a culture of mutual growth throughout the entire ecosystem so that both large corporations and small and medium-sized enterprises can grow together."
cjk@fnnews.com Reporter Choi Jong-geun Reporter