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The best cooperation with large business "GS Instruments and SKTelecom"
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08-11-28 |
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Link : http://www.donga.com/fbin/output?n=200811280188 |
GSI |
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GS Instruments, a telecommunication equipment company, has recently developed telecommunication test equipment network analyzer for the first time in Korea. Network analyzers are telecom test equipments and Korean companies have been using products from foreign companies such as Agilent. From the start of development in 2004, QC department and R&D center of SK Telecom have been involved in product design and provided test equipments needed freely.
Mr. Kwon Young-Gap, Vice President for Business Development stated, “SK Telecom’s partner companies can now purchase network analyzer at a price 30% lower than the expensive imported products, and our company has established a stepping stone to enter global market for network analyzers. It wouldn’t have been possible without the help from SK.”
‘Win-win’ management between big enterprises and smaller businesses to overcome the economic crisis is spreading. Big corporations are recognizing that they can only survive if their partners survive, and it’s leading to strategic cooperation between the two parties.
‘Crystal Rose’, LCD TV from Samsung that sold over 2 million units within just 7 months after release, is a result of such cooperation with A-Tech solution, a metallic molding company.
Located in Hwa-Sung City, A-Tech were introduced the idea of Crystal Rose LCD in 2006 and started developing the mold for the product. Samsung supported over 10 units of mold manufacturing machines costing over 1.5 billion won in total, and A-Tech invested more than 10% of the company’s total sales into developing the mold.
As a result, A-Tech is in full operation compared to many adjacent companies that are reducing their budget.
Boguk Electronics, is an electronic carpet manufacturing company in Daegu Sungseo Industrial Complex that experienced similar growth by cooperating with large discount department store Homeplus.
In 1998, Boguk, a company with only 6 employees, and Homeplus, a discount store chain that only had two shops in Pusan and Daegu, found a point of mutual understanding. Homeplus trusted Boguk with ‘global sourcing’, and Boguk responded by sourcing competitive, quality home electronics from countries like China and Russia at lower prices. Boguk’s sales recorded 3 billion Won in 1997, and they expect this year’s annual sales to be over 20 billion Won.
Funding supports by large corporations to partner companies who are having financial difficulties are also playing a role.
6 LG Group affiliates including LG Electronics will make payments to more than 1700 partner companies by cash, check, private purchase cards instead of bills starting next year. They will also increase the amount of the fund that loans budget to its partners on a low interest rate from 175 billion Won to 343 billion Won.
Another similar fund of 300 billion Won was formed with POSCO investing 200 billion Won and Shinhan Bank and Woori Bank investing 50 billion Won each. Partner companies can loan from this fund at interest rate 1.5%p lower than the market rate.
Hyundai and Industrial Bank formed a fund of 100 billion Won to allow partners to loan at 1.3%p lower interest rate than the market rate.
Doosan Group decided to make payments to 1760 partner companies that supply goods to 5 of its affiliates, including Doosan Heavy Industries and Construction, all in cash. Also, GS Caltex will be paying cash to its partner companies in about the same amount as last year (510 billion Won).
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