LOTTE Chemical Supports Global Entry of Small & Medium Partners
- Supported expanded overseas sales channels worth 46.7 billion KRW in '22
■ Supported overseas production corporations and domestic partners to enter overseas markets in Malaysia, Americas, Europe, etc... Supported expanding sales channels worth 46.7 billion KRW for 73 small and medium-sized partners in ‘22
■ Operating a mutual growth program with the objective of establishing an environment for SMEs to grow and to strengthen competitiveness of key partner companies... Support for establishing overseas sales channels and for making soft landings abroad for outstanding partner companies
■ LOTTE Chemical, “We will support overseas production corporations in USA, Hungary and Indonesia and expand support for local sales channels for our partners, while operating practical support programs to strengthen the competitiveness and cooperative relations of partner companies"
LOTTE Chemical (CEO and Vice Chairman Kim Gyo-hyun) announced on the 24th that it expanded sales channels by 46.7 billion KRW through support for entering overseas markets and increasing revenue for 73 domestic SMEs in 2022.
LOTTE Chemical constructed stable cooperative relationships with partner companies and is operating various win-win programs such as funding, management consulting, and technology/personnel/training support projects to establish an environment where SMEs can grow and to enhance the competitiveness of key partner companies.
Furthermore, it has been actively supporting the expansion of pioneering sales channels abroad for domestic partner companies since 2019, and has been working with six overseas corporations such as LOTTE Chemical Titan (Malaysia) in the Americas and Europe to help domestic SMEs enter foreign markets.
In 2022, the petrochemical additives supplier Doobon, an outstanding partner company, received land, infrastructure equipment construction, and legal consulting, etc. from LOTTE Chemical, and completed the construction of a production facility within the LOTTE Chemical Titan plant in Johor Bahru, Malaysia, thus leading joint entry in foreign markets with partner companies.
LOTTE Chemical stated, “We plan to expand support for overseas sales channels for partner companies with our overseas production corporations in the US, Hungary and Indonesia,” while adding, “By operating practical support programs, we will strengthen the competitiveness of partner companies and solidify sustainable cooperative relationships.”
LOTTE Chemical received an Excellent grade (Mutual Growth Committee) in the mutual growth index evaluation of 2021, and also received the grand prize in the ‘ESG support business’ sector being recognized for its contributions to the development and spreading of the ESG index for partner Companies at the 2022 Korean Mutual Growth Awards. LOTTE Chemical plans to continue to strength assertive communication and win-win cooperation believing that mutual growth with partners is its competitiveness.