Sound ESG Management
Compliance
Shared Growth
Dear CEO and employees of our partners,
Despite the difficult climate of long-term recession and slow growth, we have been able to achieve growth together by maintaining an organic and cooperative relationship. We are deeply grateful for your commitment. LOTTE Wellfood understands that the growth and development of our partners are vital to everyone's prosperity. The growth of the partner company will lead to the growth of LOTTE Wellfood, and through our growth, LOTTE Wellfood aims to create a virtuous cycle that benefits everyone. To this end, in 2018, we launched a compliance management team to promote and realize mutual success, and a number of relevant departments at LOTTE Wellfood working together to advance shared growth. Furthermore, we will strengthen the current shared growth initiatives and develop new programs to boost the competitive advantage of our partners. Thank you for all of your efforts, and LOTTE Wellfood will continue our endeavor to establish a firm foundation for our mutual prosperity. Thank you.
Despite the difficult climate of long-term recession and slow growth, we have been able to achieve growth together by maintaining an organic and cooperative relationship. We are deeply grateful for your commitment. LOTTE Wellfood understands that the growth and development of our partners are vital to everyone's prosperity. The growth of the partner company will lead to the growth of LOTTE Wellfood, and through our growth, LOTTE Wellfood aims to create a virtuous cycle that benefits everyone. To this end, in 2018, we launched a compliance management team to promote and realize mutual success, and a number of relevant departments at LOTTE Wellfood working together to advance shared growth. Furthermore, we will strengthen the current shared growth initiatives and develop new programs to boost the competitive advantage of our partners. Thank you for all of your efforts, and LOTTE Wellfood will continue our endeavor to establish a firm foundation for our mutual prosperity. Thank you.
What is a Shared Growth Index Company
After signing Fair Trade Agreements to establish and practice mutual support and cooperation with
partners in October 2008, LOTTE Wellfood became
a Shared Growth Index Company in 2012 to take the lead in achieving shared growth with our partners. As a growth index company, we have adopted
the Fair Trade Commission's four guidelines and implemented a win-win cooperation support plan for our partners.
a Shared Growth Index Company in 2012 to take the lead in achieving shared growth with our partners. As a growth index company, we have adopted
the Fair Trade Commission's four guidelines and implemented a win-win cooperation support plan for our partners.
Progress of Shared Growth Initiative
After signing Fair Trade Agreements to establish and practice mutual support and cooperation with
partners in October 2008, LOTTE Wellfood became a Shared Growth Index Company in 2012 to take the
lead in achieving shared growth with our partners.
As a growth index company, we have adopted the Fair Trade Commission's four guidelines and implemented
a win-win cooperation support plan for our partners.
Shared Growth Support for Suppliers
LOTTE Wellfood has established and implemented technical and educational support and funding
plans for mutual growth with its partners.
Technical Support
LOTTE Wellfood operates various technical support programs with its partners to cultivate
their competitive advantage.
Funding Support
LOTTE Wellfood has created a 27 billion-won Win-Win Fund (as of 2019) with the Industrial
Bank of Korea to support its partners.
Appointment and Registration Flow for
New Prospective Suppliers
New Prospective Suppliers
Form of contract
For subcontract agreements, we choose a form of contract in consideration of the importance of the
counterparty and the transaction.
| Classification | Private contract | Open competition contract | Restrictive competition contract | Selective competition contract |
|---|---|---|---|---|
| Details | In cases where competition is not possible | No particular criteria | Specific criteria for bid participants | Bid participants are selected |
| Key Items | Products/toll processing/packaging materials | General-purpose purchase items (consumables, etc.) | Equipment construction/raw materials, etc. | Equipment/construction |
* Compliance with the Fair Trade Commission's four guidelines and LOTTE Wellfood's regulation
for fair subcontracting transactions
New Supplier
Registration Process
Registration Process
Download key partner-related contract forms
Shared Growth Win-Win Nuri
LOTTE Wellfood operates programs such as an online academy on Win-Win Nuri.
What is Win-Win Nuri?
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Advantages
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01Formation of new networks between companies
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02Capacity building through access to diverse know-how of large companies
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03Participation in customized shared growth programs
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Win-Win Nuri Site
