■ On the 18th, received highest rating in the 2022 mutual growth index evaluation
■ Cooperating through close communication with partner companies in various fields such as ESG support projects, expanding safety cultures, and supporting overseas sales channels
■ LOTTE Chemical President & CEO Kim Gyo Hyun “We will continuously communicate with partner companies based on an attitude of mutual respect and strengthen the ESG competitiveness of LOTTE Chemical’s supply chain”

LOTTE Chemical announced on the 18th that it had acquired the top rating in the 2022 mutual growth index announced by the Korean Commission for Corporate Partnership. This is the first time that LOTTE Chemical received the top rating.

The mutual growth index is a quantified index that evaluates the level of mutual growth in order to promote the mutual growth of large companies and SMEs, and the results of the Korean Commission for Corporate Partnership’s general mutual growth evaluation and Fair Trade Commission’s agreement execution evaluations are combined and announced once a year.

LOTTE Chemical is closely communicating and cooperating with partner companies in various areas such as ESG support projects, expanding safety culture, and supporting overseas sales channels.

First, it operates and supports a mutual growth fund worth 135 billion KRW for management stability through the operation of funds of partner companies. In addition, it supported the overseas entry and revenue expansion of 73 SMEs in Korea last year, thus achieving expansion of sales channels worth 46.7 billion KRW. In particular, it supported land and infrastructure to DOOBON, a petrochemical additive supply partner, thus helping to complete the production facility within the LC Titan Malaysia plant.

LOTTE Chemical also provided support in areas such as environmental seminars, disaster prevention consulting, and safety management facilities for cooperating SMEs to establish a safety culture, and it is also continuing efforts to strengthen the technologies and improve the safety management levels of partner companies. By engaging in joint research projects for jointly carrying out multiple research projects such as product development and process improvement of partner companies, it is striving to strengthen the technological competitiveness of partner companies. It has dispatched outside experts to improve the safety management level and is supporting the consulting, etc. for acquiring safety and health management system certifications.

LOTTE Chemical President & CEO Kim Gyo Hyun said “We will continuously communicate with partner companies based on an attitude of mutual respect and strengthen the ESG competitiveness of LOTTE Chemical’s supply chain”

Meanwhile, LOTTE Chemical is supporting the ‘Partner ESG Support Project’ for 29 companies to support the ESG management of cooperating SMEs, and the contributions of this project that had been ongoing since 2019 was recognized, thus receiving the grand prize in the ‘ESG support business sector’ at the ‘Korean Mutual Growth Awards’.

Furthermore, it signed the ‘Voluntary MOU for Resolving Polarization’ in order to provide relief for the polarization between conglomerates and SMEs, while supporting the enhancement of competitiveness for partner companies together with the Korean Commission for Corporate Partnership on December 8 of last year. According to this agreement, LOTTE Chemical is investing in the mutual growth fund for cooperating SMEs, provide credit guarantee support, while also supporting the pioneering of overseas sales channels and technological innovation to operate a mutual cooperation program worth a total of 326 billion KRW over three years.