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LS Cable and System launch committee to help suppliers

LS Cable and System, the country’s largest producer of cables and wires, joined the growing ranks of large firms promoting shared-growth with small- and medium-sized enterprises.

Shared-growth refers to large companies’ efforts to support smaller suppliers and associated companies’ expansion efforts, which has gained increasing attention with the government promoting it as a major policy.
LS Cable and System president Son Jong-ho (third from left, front row) with heads of the company’s suppliers at its office in Anyang, Gyeonggi Province on Tuesday. (LS Cable and System)
LS Cable and System president Son Jong-ho (third from left, front row) with heads of the company’s suppliers at its office in Anyang, Gyeonggi Province on Tuesday. (LS Cable and System)

On Tuesday, a committee for shared-growth comprising of LS Cable and System’s subcontractors was launched at the company’s office in Anyang, Gyeonggi Province.

“It was organized to establish a sustainable shared-growth system based on the group’s new management philosophy of ‘LS Partnership,’” the company said in a statement.

The new committee will seek ways to promote growth for LS Cable and System and its suppliers, sharing mid- to long-term strategies, finding means to create synergy and addressing difficulties experienced by the suppliers, LS Cable and System said.

According to LS Cable and System it operates a number of measures aimed at aiding suppliers’ operations including support fund, transferring patents to suppliers, R&D support measures and management consulting services.

By Choi He-suk  (cheesuk@heraldcorp.com)
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