- Guideline for fairness and transparency in contracts
- Guideline for partner selection and management
- Guideline for installation and deployment of an internal deliberate on council
- Guideline for proper correspondence and documentation practices
Chosen for their expertise, capacity, management transparency, and commitment to the environment, Samsung Engineering's ever-expanding partner network consists of the world's leading engineering design firms, vendors, and subcontractors. Although these firms have been selected for the services they perform, we see our relationship as more than merely transactional: at Samsung Engineering, we believe our ability to compete in the global market improves when our partners prosper. Bearing that in mind, we are committed to strengthening our relationships with our partners through various support programs.
We strive to create more transparent and equal partnerships in accordance with the principle of shared growth and fair trade. Therefore, we have adopted a set of policies that govern employee conduct during certain important corporate activities such as corporate partner interactions and subcontractor labor negotiations. Moreover, in 2012, Samsung Engineering set 4 fair trade guidelines and revised standard subcontractor contracts following the guidelines from the Korea Fair Trade Commission.
To ensure good business conduct, effective communication, and dedication to collaborative partnership, Samsung Engineering has developed management systems that encourage shared growth. Always looking for opportunities to expand into new markets with new corporate partners, Samsung Engineering is aware of the complexities that come with any new business relationship, so we provide our partners with educational resources as well as financial and technical support.
True commitment to environmental preservation and community betterment means encouraging our partners' sustainability efforts by promoting or implementing responsible corporate initiatives at all levels of our operation. Recently, we launched a campaign to incentivize our partners to comply with global sustainability initiatives by certifying them as "S-Partners" after a thorough onsite assessment of their sustainability efforts.
As a multinational corporation, Samsung Engineering manages a variety of partner support programs. Believing that our company benefits from shared prosperity, we strive, every year, to improve relations by anticipating the needs of our partners and then doing everything we can to address those needs in a mutually beneficial way.
We make all payments to our partners in cash based on project progress. Recently, the payment terms has been reduced from 15 days to 10 days.
For partners in need of emergency funding, we provide 0% interest loans for six months. Also, we set up and manage a shared growth fund that can be lent out to partners at rates lower than market interest rates.