On July 2, SK held a signing ceremony for the 'SK Cooperation Agreement for First, Second, and Third-Tier Partners' at SKT Tower in Jung-gu, Seoul. The event was attended by over 150 participants, including Joo Byeong-ki, Chairman of the Fair Trade Commission; Choi Chang-won, Chairman of SK Supex Council; Ji Dong-seob, SV Chairman of SK Supex Council; CEOs of affiliated companies, and representatives from partner firms.
The agreement includes participation from seven affiliates, including SK Hynix, SK Telecom, SK Eco Plant, SK Geo Centric, SK Siltron, SK Inc. AX, and SK Intellix, along with over 100 partner companies. Key components of the agreement involve improving payment terms, enhancing transaction practices, and expanding research and development (R&D) and financial support.
Initially, SK will shorten payment deadlines and increase the proportion of cash payments for first-tier small and medium-sized partners. Payment terms will be improved based on industry characteristics, allowing payments to be made within a maximum of 10 days after the deadline. This initiative aims to reduce the financial burden on partners and ensure that this trend extends to second and third-tier suppliers.
Incentives will also be provided to partners utilizing the cooperative payment system. By using this system, second and third-tier partners can access funds from designated accounts earlier than before, alleviating liquidity pressures on small partners.
Improvements in transaction practices are also planned. First-tier partners will receive additional points in evaluations for contract renewals and the selection of new partners if they relax payment terms for second and third-tier suppliers. The payment deadlines and methods for partners at each level will be reviewed to establish a healthy payment culture throughout the partner ecosystem.
SK plans to utilize 1.4 trillion won in new funding to expand support for partners, particularly in light of the growing AI semiconductor market. This funding will assist material, component, and equipment suppliers in technology development, product validation, and alleviating financial burdens, thereby strengthening the semiconductor ecosystem.
Group-level support will also be expanded. SK will extend the scope of its 680 billion won common growth fund to include second and third-tier partners and will offer tailored online training programs for partner employees.
Individual affiliate support programs will continue. SK Telecom operates a 'Quick Payment' service that guarantees 100% cash payment within two business days for small partners, resulting in a cumulative early payment of 14.5 trillion won over 22 years. The company is also considering expanding this service to more partners.
SK Eco Plant is enhancing its open innovation program to support the commercialization of technologies from startups and small businesses. SK Geo Centric is helping partners strengthen their sustainability capabilities, focusing on productivity improvements and ESG and safety enhancements, while SK Siltron continues to provide tailored support through open wafer processing training.
Choi Chang-won, Chairman of SK Supex Council, stated in his welcoming remarks, "Since 2005, SK has defined partners as key stakeholders and has valued their growth and happiness. I believe the beginning of cooperation starts with payment, and I will work to ensure that the connection from first-tier to second and third-tier partners spreads throughout the industry."
He added, "While SK Hynix is performing well, support for partner companies is essential for further success. We will spare no effort in supporting the semiconductor ecosystem and technology development centered around SK Hynix."
In his congratulatory speech, Joo Byeong-ki, Chairman of the Fair Trade Commission, remarked, "SK's proactive improvement of payment terms for first-tier partners and the provision of incentives for participating partners will serve as a driving force for these benefits to reach second and third-tier suppliers. I hope this agreement leads to tangible changes on the ground rather than remaining just a promise on paper."
Additionally, during the signing ceremony, agreements involving SK affiliates and the Fair Trade Commission were also established. SK Telecom signed agreements with Softworks and GNS Technology, SK Eco Plant with SAPLUS, and SK Geo Centric with International Plant. SK Siltron partnered with Dacon Tech and A1 Tech, SK Inc. AX with D2L, and SK Intellix with Changseong Tech and UNAI. SK Hynix signed an agreement with TMC and PSDI to broaden the foundation for cooperative support across the semiconductor ecosystem.
* This article has been translated by AI.
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