SK chemicals provides various shared growth programs

• SK Shared Growth Fund

  Since 2013, SK chemicals has operated SK Shared Growth Fund to help our suppliers run their businesses in a smooth and stable manner. SK’s Shared Growth Fund allows our suppliers to secure funds required for their operations and facilities at a below-market interest rate. In 2020, SK chemicals managed funds totaling KRW 7.5 billion, providing KRW 1.9 billion of financial support to 7 suppliers.

• Subcontract Payment

  To support our suppliers, SK chemicals implements policies of cash payment for subcontract expenses, payment to subcontractors within the shortest period and free support for financial funds. According to the payment amount, SK chemicals has implemented cash equivalent payments within 10 to 50 days after issuance of the tax invoice so that suppliers can conduct stable business through smooth cash flows.

• Advance and Middle Payment

  SK chemicals has implemented advance and middle payment systems to stabilize our suppliers’ cash flows. Suppliers in charge of equipment materials/construction can benefit from this institution when applying for advance or middle payments, and SK chemicals is also paying suppliers in cash to ensure stable management.

• Competitiveness Enhancing Training

  SK chemicals spares no effort in creating actual social value. As part of these efforts, the company provides a wide range of training programs including Mutual Growth E-learning, Online Training, SK Mutual Growth MBA, and Mutual Growth CEO Seminar in order to enhance our suppliers’ competitiveness. In 2020, a total of 24 CEOs from our suppliers participated in the CEO Seminar.

• Provision of Safety Training

  SK chemicals provides our suppliers with free safety training twice a year to raise the level of their safety management. The 1st training is for suppliers’ supervisors and the 2nd training is for all their employees. Through the training, our suppliers learn about ways to prevent safety accidents through incident cases, relevant legal standards and SK chemicals’ internal regulations on safety and emergency response system. Also, SK chemicals informs our suppliers’ representatives about changes in laws, internal standards and recent accident cases during the monthly suppliers’ council.

• Joint Development and Profit Sharing

  SK chemicals is taking the lead in mutual growth, working together with SMEs to create competitive advantages in various fields by utilizing copolyester (PETG, ECOZEN) for research and business development. In particular, Wood Plastic Composite (WPC), an eco-friendly wood plastic co-developed with Dongha Group, has been recognized as an excellent example of mutual growth between a conglomerate and an SME. With Dongha, SK chemicals participated in ANTEC 2018, the largest conference in the plastic industry held in Orlando, Florida, USA, as a step to advance into the global market.