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Managing Business for a Sustainable Society

3 Key Strategies for SK Networks to Grow Together with Suppliers
  • 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
  • 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
  • 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

Procurement Review Committee
  • Internal Audit Team (1 person)
  • Head of Corporate Culture Division  (1 Chair)
  • Key Management Executives* (3 persons)

    *Head of the Strategy Planning Division, Head of the Finance Division, Head of Sustainable Management Division

Providing Training to Suppliers’ People

SK Networks has provided ESG online training to suppliers’ people in 2023. Such a program was conducted online from July to August, 2023 and the training budget was funded by SK Networks to encourage suppliers to actively participate in the program. In addition to human rights/business ethics covered in the 2022 training program, training contents have been expanded to include environment, anti-corruption and top four statutory training obligations to help suppliers train their people and engage in ESG management initiatives. In 2023, 134 employees of 19 suppliers voluntarily joined the training program and took 687 courses in total. (Training completion ratio of 100% vs. 96.6% of 2022) Going forward, SK Networks will develop diverse and effective training programs and made them accessible to suppliers to deliver on the value of shared growth.

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

SK Networks is actively participating in SK Group's mutual growth fund and mutual growth programs (CEO seminars, MBAs, etc.). Established in an agreement with IBK, the SKN Shared Growth Fund grants low or no-interest loans to partners. We create opportunities for shared growth by expanding the number of participating companies every year.
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

동반성장펀드 현황 표(구분, 협력사 수, 실적로 구성)
Category No. of participating suppliers Amount
Goal 6 KRW 1.6 billion
Status 9 KRW 2.18 billion

Support of shared growth with business partners

  • 2023
      • To regularly evaluate partners and establish programs (systems) to support partners’ excellence
      • To expand the mutual growth fund coverage
        • 2023 Fund: More than 3 times the amount supported in 2021
      • To prepare a pilot program for additional financial support
      • To reinforce the partner communication system
        • Capture more voices from partners
  • 2024
      • To implement and expand programs to support partners’ excellence
      • To expand mutual growth fund coverage
        • 2024 Fund: More than 4 times the amount supported in 2021
      • To expand the additional financial support program
      • To identify and implement mutual growth tasks
  • 2025
      • To re-establish strategies with a focus on mutual growth
      • To lay the foundation to systematically implement the mutual growth system
      • To continue running the Mutual Growth Fund and expanding the financial support program