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Win-Win Growth

We adhere to fair trade principles to ensure a level playing field for our suppliers, while building partnerships of mutual trust and cooperation.

We understand our suppliers’ competitiveness determines LGE’s competitiveness. We will continue to create new programs and expand our support, as well as focus on enhancing the capability of our expert staffs for assisting our suppliers.

Philosophies and Principles for Win-Win Growth

LG Electronics established "3 Philosophies and 5 Principles for Win-Win Growth," and makes diverse efforts to ensure that all our employees fully understand our philosophies and principles for win-win growth and put them into practice.

3 Philosophies and 5 Principles for Win-Win Growth
Support Programs for Win-Win Growth

LG Electronics implements differentiated support programs to help our suppliers acquire world class competitiveness in quality, production, and technology. And we make continuous efforts to ensure the financial stability of our supplier's by providing direct/indirect funding support and improving payment schedule/period and provide training and HR support to 1st tier and 2nd tier suppliers.

Communication with Suppliers
Open Dialogue with Suppliers

Through various communication programs, LG Electronics provides encouragement for suppliers and listens to their opinions and challenges, while also guaranteeing transparency in all business transactions.

Suppliers Communication Programs
Suppliers Communication Programs
Programs Operation Cycle Details
Supplier Portal Opened Convenient online communication with LG Electronics (inquiries and suggestions on procurement transactions) is available with all relevant systems integrated.
New Supplier Registration System Opened Companies can apply to become a new supplier for LGE using this system, at which time they will be automatically connected to LGE’s purchasing personnel after an automatic screening process.
Supplier Suggestion System Opened Every supplier’s suggestions on work process improvement will be taken into account for R&D, general management activities, and mutual growth.
Suppliers’ Satisfaction Survey 1/ Year Surveys on LGE’s overall capabilities in such areas as purchasing, product quality, R&D, and design will reveal any potential problems.
Evaluation & Awards for Existing Suppliers 1/ Year Incentives and penalties will be imposed by regularly evaluating each existing supplier’s business results and transactions.
Global Suppliers Day 1/ Year LG Electronics will share its vision and achievements with its top 300 suppliers, LG affiliates, and LGE’s major executives and purchasing personnel.
Procurement Executive Council 1/ Quarter As the top organization to make decisions on purchasing, the committee evaluates suppliers, reviews satisfaction surveys, and examines ways to support business partners.
Supplier Grievance Process

LG Electronics offers a supplier grievance reporting channel on the corporate website (www.lge.com) and the Win-Win Growth website (winwin.lge.com/winwin/) to gather supplier complaints and grievances, and to address the issues. We commission a third party assurance agency to conduct supplier satisfaction survey on business transactions and Win-Win Growth programs to gather frank feedback, promote communication, and effectively resolve supplier grievances.