Korean chaebol CJ, Home Plus and other large companies received the lowest rating in terms of relationship with SME
May 28, 2013 Leave a comment
2013-05-27 17:03
Home Plus, CJ among worst in SME relationship
By Yi Whan-woo
Home Plus and seven other large companies received the lowest rating from a corporate watchdog on Monday in terms of relationship with smaller business groups.
Also on the list were CJ O Shopping, Hyundai Home Shopping, Hyundai Department Store, KCC Corp., STX Heavy Industries, LSIS and Kolon Global.
The National Commission for Corporate Partnership (NCCP) made the evaluation of 73 firms on the basis of a survey of some 9,500 small- and medium-sized enterprises (SMEs).
They were the subcontractors of those large firms. “We seek to promote joint growth between conglomerates and smaller companies through our survey,” the commission said. “We’ll accept various opinions from experts in the remaining first half to better reflect the efforts of the large companies regarding joint growth with SMEs.”
Home Plus was the only foreign company among the 73 firms that were listed on the country’s top 250 enterprises last year in terms of sales.
Of the nation’s leading TV home shopping and internet shopping malls, CJ O Shopping and Hyundai Home Shopping were given the lowest rating along with Hyundai Department Store, a giant offline shopping mall.
STX Heavy Industries, a troubled affiliate of STX Group that is facing a liquidity crunch, joined the LSIS, an electrical equipment manufacturing arm of LS Group, a family-owned conglomerate.
Three affiliates of the country’s No .1 conglomerate Samsung Group were rated among nine companies that were rated “excellent,” the highest of the four ratings. They were Samsung Electronics, Samsung Electro-Mechanics, and Samsung SDS.
Hyundai Heavy Industries, one of the country’s leading shipbuilders and the world’s fourth largest steelmaker POSCO were also on the list along with SK Telecom, SK Global Chemical, and SK C&C.
Hyundai Motor and Kia Motors, two major affiliates of the country’s No. 2 conglomerate Hyundai Motor Group, were given the second best rating of “fine” among the 29 companies.
Some 27 firms received a rating of “average,” including Lotte Department Store and Shinsegae Department Store. They are two of the country’s three largest shopping outlets along with Hyundai Department Store.
The NCCP said it will restrict franchise restaurants run by family-owned conglomerates from operating within 100 meters from shopping areas with easy access to subways and other public transportation.
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