LS Group is actively seeking joint growth with its small and medium-sized partners in Korea despite the global economic crisis

LS Group officials and representatives of partner companies who attended the "LS Partner CEO Forum" held in September last year are taking commemorative photos.

LS Group is actively seeking joint growth with its small and medium-sized partners in Korea despite the global economic crisis. The goal is to provide various manpower, technology, and information to help suppliers improve their productivity, providing a foothold for them to grow into small and medium-sized companies.

In September last year, LS Co., Ltd. held a 'LS Partner CEO Forum' to create synergies of shared growth with partners. More than 120 representatives of suppliers, including LS President Ahn Won-hyung and Chief Purchasing Officer (CPO) of major affiliates, attended to listen to special lectures on the latest knowledge to help partner management activities and share their growth plans and directions.

LS Cable & System is conducting business after developing LAN cable test equipment with Kangwon Electronics, a manufacturer specializing in network products. It is considered as an example of creating synergy between large and small companies that increase product function and consumer convenience by combining LS Cable's technology and Gangwon Electronics' market information for the three domestic telecommunications companies. It also succeeded in localizing oxygen sensor cables for automobile engines by jointly carrying out national tasks with Expantel, a small and medium-sized cable manufacturer. In addition to technology development, LS Cable & System dispatched its engineers to Expantel to help build a quality management system. In addition, LS Cable & System launched an i-Check diagnosis and monitoring system developed with small and medium-sized suppliers and started its business in earnest.

LS Electric has been contributing about 10 billion won in funds since 2020 to expand the construction of smart factories to improve the manufacturing competitiveness of small and medium-sized companies. Last year, it also joined hands with LG U+ to expand its smart factory construction business for mid-sized and small- and medium-sized companies in Korea. LS Electric plans to provide customized services to small and medium-sized manufacturing companies in Korea by adding LG U+'s communication-based smart factory operation technology to the world's best smart factory construction and operation know-how.

* Source : https://www.mk.co.kr/en/special-edition/11127753