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Core Values for Shared Growth

Go to Shared Growth Portal

LG Display keeps its promises with its partners, helps them strengthen their competitiveness, and leads effective communication.

동반성장
  • Open CommunicationOpen Communication
  • Active CollaborationProactive collaboration
  • Change and GrowthChange & Leap
Core Values for Shared Growth
Core Values Open Communication Active Collaboration Change and Growth
Shared Growth Guidelines ModestyRespect for partners TrustMutual Respect & Fair Distribution of Results CreativityConstant discovery of ideas
Listening & CaringThink deeply, act fast Sense of ownershipVoluntary participation of suppliers and partners ChallengeHigh Goal Setting & Relentless Challenge
Open MindOne Team Mind SynergyMaximize synergy between partners and LG Display Create ValuesSecuring the highest profitability

Shared Growth Promotion System

No.1 Supplier,
No.1 LG Display

  1. 01 Basic Compliance Keeping promises with partners
    • Prohibition of unreasonable request and use of technical data
    • Prohibition of unfair returns and refusal of receipt
    • Prohibition of unfair subcontract payment
    • Prohibition of cancellation of illegal orders
  2. 02 Fundamental Competitiveness Actively help suppliers to strengthen their competitiveness
    • Financial support
    • technical support
    • Support for education, business, environment/safety, and security
  3. 03 Open Communication Excellent communication with partners
    • Enhancing the responsiveness of partners
    • Cultivation of partners' responsiveness

Strengthening the competitiveness of partners

LG Display has a close relationship with its partners from procurement to manufacturing. In order to secure the competitiveness of LDG, it is necessary to strengthen the competencies of suppliers to solidify the overall industrial ecosystem. Therefore, LDG strives to create an industrial ecosystem that enables horizontal win-win and coexistence with suppliers based on the new win-win cooperation system.

Win-Win Cooperation Strategy System

LG Display has been promoting various shared growth activities under the win-win philosophy that ‘the competitiveness of partners is the competitiveness of LG Display’. Especially, we introduced the ‘New win-win cooperation system’ to resolve the vertical relationship formed between 1st, 2nd, and 3rd tier suppliers and to create a horizontal win-win environment with all suppliers. This new win-win cooperation system expands the shared growth program in the three areas of finance, technology, and medical welfare to include secondary and tertiary suppliers, thereby simultaneously enhancing the competitiveness of suppliers and LG Display. LG Display has made steady efforts to create a new ecosystem, and as a result, it has been awarded the ‘Best Grade’ in the shared growth index for six consecutive years since 2014.

New Win-Win Cooperation System
LG Display
「New Win-Win Cooperation System」
  • Expand the scope of support to more than 2,000 secondary and tertiary suppliers
  • Creating a horizontal win-win ecosystem among all business partners
  • Financial support
    • 100 billion won in win-win technology cooperation fund
    • Direct loans to secondary and tertiary partners (interest-free)
    • Loans in partnership with financial institutions
  • Technical cooperation
    • Expand the scope of the new technology equipment competition
    • Strengthen joint technology development for localization of equipment
    • Manufacturing innovation
  • Medical Assistance
    • If an employee of a partner company working on the LG Display site is ill medical care without discrimination shall be provided.
    • Reinforcement of support for creating a safe working environment for secondary and tertiary partners

Strengthening communication with partners

The shared growth portal* is LG Display's own online platform for more transparent and active communication with partners. On this site, you can communicate with partners according to each purpose through various channels such as the Win-Win Growth Board, e-VOS, and Win-Win Growth Voice. Opinions gathered through the shared growth portal are reflected in future shared growth activities. Furthermore, LG Display communicates with its partners through offline channels. LG Display holds a New Year's Meeting for Mutual Growth at the beginning of the year and a year-end manufacturing innovation sharing meeting to share New Year's business plans and achievements, while also seeking ways to cooperate to lead the future display market.

Shared Growth Portal : winwin.lgdisplay.com

Contributing to financial soundness through financial support and win-win payment system

LG Display helps business partners improve their financial health through various financial support. LG Display assists business partners in smooth fund management through direct financial support, such as interest-free loans for win-win technology cooperation funds and early payment for holidays. In addition, LG Display provides a variety of financial support including direct and indirect methods, such as the provision of low-interest loan products through indirect support such as mutual growth funds and network loans. LG Display has been operating a win-win payment system* since July 2015, and through this system, it supports the smooth collection of payments from secondary partners. In order to spread shared growth to secondary and tertiary partners, LG Display strives to ensure that the support received by the 1st suppliers from LG Display is transferred to the 2nd and 3rd partners with the voluntary will of the 1st suppliers.

Win-win payment system: An inter-company payment product provided by commercial banks so that 1st tier supplier can pay the purchase price to the secondary supplier based on the receivables paid by large companies to the 1st tier supplier

Cultivation of technical capabilities led by partners

LG Display pursues technological innovation of partners beyond simple cooperation with ‘innovation from partners’ as its core technology strategy. To achieve this, LG Display has been cultivating the technological capabilities of its partners by implementing various programs such as joint R&D, manufacturing innovation activities, and competition for new technology equipment. LG Display conducts joint R&D with its partners every year, and supports joint development and patent applications for excellent technologies developed through this, and even to secure technological competitiveness. Manufacturing innovation activities such as technical guidance and improvement to improve the level of manufacturing capabilities, quality and productivity of suppliers are continuously being carried out.

Educational Support Program
  • E-Learning
    Online education such as professional and leadership trainings, foreign language, liberal arts, etc.
  • In-person training
    Trainings related to work performance such as problem solving and worksite improvement
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