LG Electronics strives to achieve sustainable growth by utilizing its products and technologies to make “innovation for a better life.” and to support for green and social economy. Our vision is coming together around the world through initiatives that take advantage of our products and technologies. We also established the CSR marketing committee to facilitate regular collaboration between related departments and plans to use it as a framework for expanding opportunities for developing products and implementing technologies that contribute to society.
LG SOCIAL FUND
A support program for start-up social enterprises in the environment sector was conceived by LG Electronics and LG Chem with the aim of providing comprehensive support to start-up social enterprises in the environment sector through multilateral cooperation between the public sector, private sector, industry, and academia.
The program provides start-up social enterprises with a wide range of support, including grants to promote their organizational capabilities, business independency, and sustainability. The program strives to build and foster a success model for social enterprises in the environment sector and pursues a strong and collaborative network with related organizations to ensure that necessary support is provided effectively and efficiently. Further details are as follows:
Beneficiaries of Program
- - Start-up social enterprises with high potential to make strong growth and great contributions to their communities
Program Operation Model
- - Effective utilization of disparate expertise of stakeholders, including businesses, government agencies, and NGOs
Way to support
- - Financial Support: Combination of grants and loans, Incentives provided to high performers
- - Technological Support: Productivity improvement consulting from the Labor Union of LG Electronics
- - Training Support: Monthly seminars, workshops, and overseas training opportunities
- - Distribution Support: Joint marketing at industry forums and trade fairs
Other: Development and implementation of KPI for social enterprises in the environment sector
Since 2011, we have operated the “LG Social Fund” and provided support to 53 organizations (excluding repeat beneficiaries) over the past four years. The LG Social Fund primarily provides financial support to social economy organizations, offering free financing during their start-up phase and interest-free loans during their growth/maturity phase. Beneficiaries also receive a wide range of management support, including management training, networking support, and productivity consulting from the Labor Union of LG Electronics. In 2014, we held a contest for college students to submit ideas for promoting social economy, with the top five teams rewarded with special awards.