Society
Managing Business for a Sustainable Society
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Providing Fair Opportunity and Maintaining Procedural Transparency
- Declaring ethical purchase
- Continuously searching for suppliers and providing fair trade opportunities
- Ensuring procedural transparency of fair trade throughout supplier selection - contracting – payment settlement
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Enhancing the Cooperation System for Shared Growth
- Building communication channel and listening to VOC
- Discovering projects for shared growth
- Selecting suppliers with good ESG/SRM assessment results and enhancing the cooperation
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Improving Suppliers’ Competitiveness
- Creating Shared Growth Fund
- Preparing support programs for suppliers
*SRM : Supplier Relationship Management
Fair Opportunity and Procedural Transparency
SK networks operates the Procurement Review Committee to review the adequacy in selecting suppliers and to continue fair and transparent purchasing activities. The committee holds meetings on purchases subject to review.*
* Purchase contracts of KRW +500 million and competitive purchases of KRW +1 billion
Procurement Review Committee
- Internal Audit Team (1 person)
- Head of Corporate Culture Division (1 Chair)
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Key Management Executives* (3 persons)
*Head of the Strategy Planning Division, Head of the Finance Division, Head of Sustainable Management Division
Protection of Our Partner Companies’ Information
Information is the most critical asset for business survival. SK networks respects the intellectual property rights and trade secrets of our partners and does not force them to pass over technical data or use intellectual property rights when selecting or transacting. Going forward, we will all the more strengthen our information protection system so that the tangible and intangible information of our partner companies can be managed more safely.
Cooperation System for Shared Growth
SK networks conducts a supplier survey every year to identify the problems the suppliers are facing and preemptively prevent supply chain risks. We hear the 'Voice' of our suppliers through this survey and come up with a solution by analyzing the impact of each voice. Within 2021, we plan to establish a communication board for shared growth, visit major partner companies to listen, and prepare and implement the SKN Shared Growth Fund and related programs based on the voices.
Shared Growth Fund : Improving Suppliers’ Competitiveness
Particularly, We plan to expand the scope to the suppliers of subsidiaries in the future and more than double the number of participants and the amount within 2021.
**Shared Growth Fund as of September 2022
| Category | No. of participating suppliers | Amount |
|---|---|---|
| Goal | 6 | KRW 1.6 billion |
| Status | 9 | KRW 2.18 billion |