- ▶SEM holds online/offline meeting for interaction with suppliers
- - Introducing SEM's management strategy and delivering awards to suppliers
- - Awarded to 8 excellent suppliers in 5 categories including technology development, quality, and productivity
- ▶CEO Chang Duckhyun says that win-win growth is not optional but necessary
- - Let's work together through mutual trust and cooperation
- - Displaying commitment to symbiotic business management such as safety, environment, and CSR support to enhance ESG capabilities of suppliers
Samsung Electro-Mechanics (SEM) held 2022 Win-Win Cooperation Day with the members of the Suppliers' Council at its Suwon plant on Apr. 19. At this meeting, SEM's CEO Chang Duckhyun emphatically called for "interest in and fulfillment of ESG, which has become a key management agenda" and announced that the company would actively support suppliers to enhance their ESG management capabilities.
SEM's Win-Win Cooperation Day is designed to reward suppliers who have racked up outstanding achievements over the past year and promote mutual communication.
On this day, CEO Chang, the others members of its senior management, and twelve heads of partner companies attended the event, and other partner companies joined in through an live online broadcast.
At this event, SEM gave awards to eight suppliers that achieved outstanding performance through innovation activities in five categories, including productivity, technology development, special, quality, and compliance, last year.
CEO Chang said, "Symbiotic growth with suppliers is not optional; it is essential for the future." He added, "SEM cooperates organically with suppliers and builds a trustful relationship, so let's go further and higher together."
SEM has business with a total of 500 domestic and foreign suppliers and 250 of them as domestic suppliers, and they are range from 1 billion won to 1 trillion won in annual sales. Among them, 36 major domestic parts makers are registered as members of the Suppliers' Council. The Suppliers' Council was formed in 1986 and now boasts a history of nearly 40 years. The 'bu' in the original Korean name ('hyeopbuhoe') of the council is an abbreviation of 'bupum' (parts), which symbolically represents South Korea's leading electronic component companies.
CEO Sung Kyudong of EO TECHNICS, who attended the event, said, "It was a meaningful opportunity to hear in detail Samsung Electro-Mechanics' management strategy and future vision as well as the growth potential of its major business operations." He added, "Samsung Electro-Mechanics' sharing of its technology development know-how and support for safety and environmental management helped us suppliers increase our productivity and grow."
Meanwhile, SEM has consistently practiced win-win management by selecting reinforcement of technology development, CSR support, productivity improvement, and support for secondary suppliers as the four pillars of win-win growth. SEM operates on-site innovation consulting (SEM-WID (With Innovation DNA)) for suppliers through the company's employees, and Win-Win Academy to systematically nurture core human resources of suppliers. In addition, the company has been operating a win-win fund worth 78 billion won since 2010 to support the financial liquidity of its suppliers.