Fellowship of Future: Samsung SDI Hosts Supplier Day

Signs a voluntary agreement for resolving imbalance between large and small companies

□ Company to run a dedicated program for mutual growth, allocating KRW 155.2 billion

□ Chief of Korea Commission for Corporate Partnership remark "Samsung SDI is a global leader in business who has been  

consistent in delivering its commitment to continued growth with its suppliers."

□ "We will further strengthen our cooperation with the suppliers and provide good support for a future where we grow together," says President and CEO YOONHO CHOI

Nov. 15, 2022 - Samsung SDI today announced that the company held a special supplier event d "Shared Growth Day" in Ramada Plaza Suwon, bringing together its suppliers to share the innovations they have made thus far and to honor the top performing suppliers.

The attendees of the event included YOONHO CHOI, the president and CEO of Samsung SDI, Young-gyo Oh, the chairman of Korea Commission for Corporate Partnership, and CEOs of the suppliers, totaling 210 people joining physically and virtually.

Samsung SDI began this annual Shared Growth Day in 2009 to share the successful innovations achieved with its suppleirs and promote steady and mutual growth. The focus of the company's extensive support measures offered for the suppliers has been the betterment of all aspects of their business management, ranging from quality performance, staffing to sales revenue.

In 2010, Samsung SDI launched a supplier support program,'Shared Growth with Manufacturing Innovation.' Under this scheme, ten suppliers are selected every year to benefit from Samsung SDI's expertise in improving productivity and quality performance, by means of specialist support, funding, etc.

At the event held on Nov 15, Samsung SDI and its suppliers, along with Commission for Corporate Partnership, signed Voluntary Agreement on Reducing Polairization of Growth. This trilateral agreement works as a driver for the involved parties to actively participate in boosting technological edge of small-to-medium companies as well as resolving polarizing distribution of growth between big companies and small companies. 

Over the next three years, Samsung SDI plans to spend about KRW 155.2 billion on operating a program for shared growth and win-win cooperation with suppliers. Back in 2019, the company signed another agreement dubbed as Innovation-Led Resolution for Wage Polarization, a commitment to tackle issues of polarizing wages between large and small enterprises and promote shared growth among them.

Yeong-gyo Oh, the chairman of Commission for Corporate Partnership, commented "Samsung SDI is a global leader in business who has been sincerely consistent in delivering its vision of shared growth d on win-win cooperation," and continued to say, "I would like to convey my deepest gratitude to the CEO and employees of Samsung SDI for joining another agreement since 2019. I hope this honorable event plays a crucial role in bolstering competitiveness of both the suppliers and the industry, while disseminating a culture of shared growth across the business society."

"The fiercely competitive market we are facing calls for much stronger competitive edge in all aspects of manufacturing, which should be built on the principle of quality and safety, and that will be how both Samsung SDI and suppliers grow together," noted President and CEO YOONHO CHOI.

"There is an African proverb that goes 'If you want to go fast, go alone and if you want to go far, go together.' By the same token, Samsung SDI will further strengthen our cooperation with the suppliers and provide good support for a future where we grow together," reiterated the CEO. 

For Samsung SDI, ESG management system has become a key strategy that determines a company's future competitiveness, extending its scope of corporate social responsibility. The company's various efforts such as establishing Sustainability Committee under its board of directors, operating a quarterly commission for sustainable management chaired by the CEO, and amping up its Win-Win Cooperation Office are a testament of how much focus Samsung SDI is putting on implementing ESG system. 

Samsung SDI pledges to be at the front and center of maintaining sincere communication with all stakeholders including its suppliers, ensuring robust implementation of ESG management strategy.