Three major telecom companies in South Korea—SK Telecom, KT, and LG Uplus—have all received the highest rating in the Cooperative Growth Index evaluation.
According to the telecommunications industry on November 11, SK Telecom has achieved this top rating for 14 consecutive years, KT for 12 years, and LG Uplus for 8 years. The Cooperative Growth Index measures the level of cooperative growth between large corporations and small and medium-sized enterprises (SMEs).
SK Telecom operates a 'Prompt Payment' system, ensuring that payments to small partner companies are made in full cash within two business days of approval. The company has established a cooperative growth fund worth 117 billion won ($87 million) in partnership with banks to support loan interest, and it also offers interest-free loans to top-performing partners. This year, ahead of the Lunar New Year and Chuseok holidays, SK Telecom and SK Broadband expedited a total of 243.8 billion won ($180 million) in payments.
The company has also expanded support for securing the future competitiveness of its partners. This includes providing ESG diagnostics and consulting, covering technology protection costs, and increasing practical AI training focused on data analysis and business automation through its Cooperative Growth Academy.
KT has focused on helping its partners expand overseas and stabilize their management. This year, KT operated the 'KT Global Win-Win Cooperation Center' four times, resulting in 18 participating partners achieving a total export performance of 180 billion won ($135 million). KT also provided low-interest loans totaling 69.1 billion won ($52 million) through its win-win cooperation fund and venture investments of 21.76 billion won ($16 million) in collaboration with KT Investment.
Ahead of the holidays, KT expedited approximately 250 billion won ($187 million) in payments to its group companies. In response to soaring memory prices, it supported advance payments of 36.5 billion won ($27 million), allowing partners to secure memory supplies and save 10.4 billion won ($7.8 million) in purchasing costs. Additionally, it expanded safety and health consulting and support for safety equipment for construction partners.
LG Uplus enters into fair trade agreements with 130 to 150 small partner companies each year, providing financial, technical, and management support. Payments are made in full cash four times a month, and the company supports a cooperative growth fund of 75 billion won ($56 million) and direct funding of 30 billion won ($22 million).
To assist partners lacking technology development infrastructure, LG Uplus operates a network equipment testbed and an Internet of Things (IoT) certification center, as well as providing support for technology documentation and proof of trade secrets. Since 2013, it has operated a 'Cooperative Growth Board' to reflect on-site opinions in support systems and improve trading practices.
* This article has been translated by AI.
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