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PT. SYMPHOS ELECTRIC

Selalu Lebih Baik

Shared Growth

Shared Growth

Five Shared Growth Policies

Five Shared Growth Policies : Comply with the fair trade and other related statutes, Disseminate a shared growth culture, Establish an eco-friendly supply chain, Build a relationship of communication and trust, Improve global competitiveness
Comply with the fair trade and
other related statutes
  • Conduct activities to disseminate the fair trade culture and the Fair Transactions in Subcontracting Act
  • Operate the Internal Subcontracting Audit Committee and Subcontract Dispute Settlement Committee
  • Implement the Basic Trade Contract and the Pledge for Ethics Management Practice
Improve global competitiveness
  • Operate the ACE Club system targeting excellent suppliers
  • Support the welfare of suppliers' workers
  • Improve the subcontract payment conditions (cash payment for amounts less than KRW 100 million)
  • Carry out management support activities to strengthen competitiveness
    - Provide financial support, technological protection, and environment and safety consulting
    - Operate the origin management system, and bolster the competency of suppliers' employees
Build a relationship of
communication and trust
  • New Year's Meeting and Performance Sharing
  • Promote various communication activities with Tier 1 and Tier 2 suppliers
  • Conduct quarterly investigations on trade-related irrationalities and unfairness
  • Activate TOPS (shared growth portal) operation
Establish an eco-friendly
supply chain
  • Enhance the ESG management awareness of suppliers
  • Form consensus on management philosophy based on the Supplier Code of Conduct
  • Secure transparency for responsible mineral sourcing through response to conflict mineral regulations
  • Comply with regulations including the RoHS (Restricted Hazardous Substances) Directive
Disseminate a shared
growth culture
  • Continuously expand the Shared Growth Agreement with suppliers
  • Activate the win-win payment system
  • Support suppliers in facility investment and purchase operations
  • Carry out corporate social responsibility activities
Shared Growth Portal (TOPS)

Key Items of the LS ELECTRIC Supplier Code of Conduct

Respect for workers' human rights (Labor)
  • Ban forced labor
  • Ban child labor
  • Comply with the working hours
  • Comply with the wage, welfare, and benefits conditions
  • Provide humane treatment
Safe working environment (Health & Safety)
  • Promote occupational safety
  • Provide appropriate personal protective equipment
  • Provide safety training for accident prevention
  • Conduct risk evaluation
  • Provide health checkup for workers
Eco-friendly management (Environment)
  • Manage pollutants emitted from worksites
  • Control hazardous chemicals
  • Promote energy saving and waste reduction
  • Obtain environmental permits
Compliance with
corporate ethics (Ethics)
  • Promote ethics practice and ban unfair enrichment
  • Implement information disclosures
  • Protect intellectual property rights
Shared growth and social
contribution (Win-Win Growth)
  • Promote shared growth
  • Cooperate for social contribution

Shared Growth Index Assessment Results

Supplier Support Programs

CategoryProgramSupport Details
Support for Shared GrowthACE ClubCSR activities targeting major suppliers, CEO Forum, Reflection
Financial SupportProvide interest-free or low-interest loans to improve supplier productivity
FTA Country of Origin
Management System		Support supplier system establishment and management operation to secure COO consistency
Smart Factory
Development		Support SME smart factory development using the win-win cooperation fund of the Korea Foundation for Cooperation of Large & Small Business, Rural Affairs
Technology
Protection		Support the Certification of Original Document of Trade Secrets to protect suppliers' technologies and trade secrets
Education and
Training Support		Support specialized training customized to SMEs
Communication and Dissemination of Shared
Growth Culture		Operation of Welfare and
Benefits Fund for Suppliers		Provide support for family events, tuition, and funeral expenses to employees of major suppliers
New Year's Meeting and Performance SharingPromote online and offline communication to share LS ELECTRIC's business direction and procurement policy
Shared Growth
Innovation Meeting		Communicate regularly with major suppliers to secure quality and strengthen innovation activities
Compliance with
the Fair Trade and
Subcontracting Act		Internal Subcontracting
Audit Committee		Conduct pre/post-reviews on fairness and legitimacy in the process of contract conclusion and termination, etc. in relation to the Fair Trade and Subcontracting Act
Post-verification on the
Legality of Subcontract
Transactions		Regularly check for violations against the compliances and prohibitions for large enterprises specified in the Fair Trade and Subcontracting Act
Subcontract Dispute
Settlement Committee		Prepare procedures for switch dispute mediation between LS ELECTRIC and suppliers