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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

Graph of 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.

Training Support, Financing, Process Innovation, Supplier Communication.

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
Horizontal Table
Programs Supplier Portal
Operation Cycle Opened
Details Convenient online communication with LG Electronics (inquiries and suggestions on procurement transactions) is available with all relevant systems integrated.
Programs New Supplier Registration System
Operation Cycle Opened
Details 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.
Programs Supplier Suggestion System
Operation Cycle Opened
Details Every supplier’s suggestions on work process improvement will be taken into account for R&D, general management activities, and mutual growth.
Programs Suppliers’ Satisfaction Survey
Operation Cycle 1/ Year
Details Surveys on LGE’s overall capabilities in such areas as purchasing, product quality, R&D, and design will reveal any potential problems.
Programs Evaluation & Awards for Existing Suppliers
Operation Cycle 1/ Year
Details Incentives and penalties will be imposed by regularly evaluating each existing supplier’s business results and transactions.
Programs Global Suppliers Day
Operation Cycle 1/ Year
Details LG Electronics will share its vision and achievements with its top 300 suppliers, LG affiliates, and LGE’s major executives and purchasing personnel.
Programs Procurement Executive Council
Operation Cycle 1/ Quarter
Details 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 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.