Jaeyong Lee’s ‘accompanying’ philosophy shines again… Samsung loses 1.4 won ahead of Chuseok to boost domestic demand

“Sharing and growing together is the path to becoming the best in the world.”

Samsung announced on the 14th that it plans to advance payment for goods up to 10 days ahead of the Chuseok holiday so that small and medium-sized partner companies can manage cash comfortably without experiencing financial difficulties. In accordance with Chairman Lee’s vision for coexistence, Samsung took the lead in creating an industrial ecosystem with domestic small and medium-sized businesses.

Chairman Lee has always emphasized, “Let’s share and grow together.” In October 2021, on the first anniversary of the late Chairman Lee Kun-hee’s death, he said, “Now, with a humble heart, let us all move forward together for a better future for our neighbors and society in order to create a new Samsung,” and always strive for ‘coexistence.’ It has been emphasized.

Accordingly, Samsung affiliates, including Samsung Electronics, plan to make early payments to suppliers worth a total of 1.4 trillion won. This is a 700 billion won decrease from the 2.1 trillion won paid out ahead of Chuseok last year. Eleven affiliates, including Samsung Electronics, Samsung Display, Samsung Electro-Mechanics, Samsung SDI , Samsung SDS , Samsung BioLogics, Samsung Bioepis, Samsung C&T, Samsung Engineering, Cheil Worldwide, and Samsung Welstory, participate in the early payment of goods

. Since 2005, Samsung affiliates have been the first domestic company to pay all transaction fees for partner companies in cash so that partner companies can focus on technology development without worrying about liquidity. Additionally, since 2011, the payment cycle for goods has been increased from twice a month to three to four times a month.

In particular, Samsung Electronics and Samsung Display have been paying for goods in cash four times a month since 2011 to ease the financial burden of partner companies. Affiliated companies such as Samsung Electro-Mechanics, Samsung SDI , Samsung SDS , and Cheil Worldwide also pay for goods 3 to 8 times a month.

In addition, since 2018, Samsung has proactively introduced a delivery payment linkage system, such as paying the increase in labor costs due to the minimum wage increase in the delivery price, to prevent suppliers from experiencing difficulties due to rising raw material prices. In addition, we are also operating a win-win fund and a product fund to stabilize the management of small and medium-sized partner companies. The size of the mutual benefit/product fund started at 2.3 trillion won in 2010 and increased by nearly 50% to 3.4 trillion won last year and this year. The amount of incentives paid to partner companies was also increased from 80 billion won to 100 billion won.

In line with the ‘companionship’ philosophy of its owner, Samsung Electronics Chairman Lee Jae-yong, Samsung is releasing a bundle of money ahead of the Chuseok holiday to ease the financial burden of small and medium-sized partners and revitalize the difficult domestic economy.

In addition, all 17 affiliated companies, including Samsung Electronics, Samsung Electro-Mechanics, and Hotel Shilla, are taking the lead in revitalizing the domestic economy by holding a ‘Chuseok Market’ for executives and employees and helping farmers and fishermen who are struggling.

Through the direct transaction marketplace, executives and employees can purchase △special products from sister villages of affiliated companies △domestic marine products △products produced by small and medium-sized enterprises supported by smart factories △and other domestic agricultural and fishery products at low prices. Rural villages and small and medium-sized businesses can increase sales.

This year’s feature is that the number of seafood items sold at메이저사이트 the Chuseok market has been significantly expanded to help fishermen who are struggling due to a decrease in demand for seafood. There are about 400 types of marine products that executives and employees can purchase at this Chuseok holiday market, including fish, shellfish and processed foods. Samsung increased the number of seafood items by about three times compared to the original plan in order to participate in social efforts to promote consumption of seafood.

In addition, Samsung previously only operated the holiday market for 2-3 weeks before the Lunar New Year and Chuseok holidays, but this year’s Chuseok operation period was extended for a total of 4 weeks until the 6th of next month, when the holiday ends, so that employees can purchase specialty products from all over the country more leisurely. It is planned to open for a while. The Chuseok market is operated not only online, but also by setting up ‘offline markets’ at some businesses.

Samsung also runs an in-house campaign to encourage employees to travel domestically to help stimulate domestic consumption and revitalize the local economy. To this end, we plan to post banners encouraging domestic travel at all domestic business sites around the Chuseok holiday, and provide a wealth of useful information related to domestic travel, such as travel attractions, local events, and recreational facilities across the country, through e-mail and in-house bulletin boards. am.

A Samsung official said, “We plan to raise employees’ interest in domestic travel by holding various employee participation events, such as special lectures by famous travel writers and YouTubers and the creation of ‘restaurant maps’ for each region,” and added, “We will also hold department-specific dinners and meetings at travel attractions near the business site as much as possible.” Or, we plan to encourage people to have it at local restaurants.”

A Samsung official said, “About 50 small and medium-sized businesses that received support from Samsung Electronics for building smart factories are also participating in the Chuseok market and selling about 200 types of agricultural, livestock and marine products.” “We also help ‘exploit sales channels’ by providing executives and employees with opportunities to sell products,” he explained.

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