NAVER Awarded 'Best Company' by Win-Win Growth Index
NAVER Awarded 'Best Company' by Win-Win Growth Index
- NAVER takes home ‘Best Company' award after a successful 2020 Win-Win Growth Index evaluation, a corporate growth index managed by the Korea Commission for Corporate Partnership (KCCP)
- The company is also recognized for its efforts to stabilize the local community during the pandemic with its technology and support the business growth of its partners and SMEs
- The internet giant is the first corporation in the industry to maintain the highest rating for five consecutive years
2021-12-17
NAVER Corporation (KRW: 035420) announced today that it has won the ‘Best Company’ award at a ceremony hosted by the Korea Commission for Corporate Partnership (KCCP).
The Win-Win Growth Index is announced annually to promote shared growth between corporations and small- and medium-sized enterprises (SMEs), and assesses the efforts made by these large companies to foster partnerships with smaller businesses. The index features a list of companies that have been evaluated based on criteria set by the KCCP and Korea Fair Trade Commission (KFTC). This year, the index included 210 companies, each given one of five grades ranging from ‘Excellent’ to ‘Poor’.
In September 2020, NAVER was rated “Excellent” after its 2020 Win-Win Growth Index evaluation. NAVER is the first internet company in the country to win the highest rating for five consecutive years. In the 2020 Win-Win Growth Index assessment, NAVER was recognized for its efforts to ensure its partner businesses’ resilience and continuity, providing support for the growth of SMEs and ensuring the stability of the local community with its technologies during the COVID-19 pandemic.
Strong operational support for business partners
The honor was given in recognition of NAVER’s efforts to support the operations of its business partners. NAVER has been paying its partners in full within 10 working days from the start of business relations and increased the amount of low-interest loans, making the firm one of the most trusted and reliable partners in the industry.
NAVER also provided free labor and legal counsel to help partners stabilize their businesses. The corporation assisted partners with their own business endeavors by sponsoring business travel costs and bidding participation fees to build long-term trusted business relationships.
In addition, various welfare programs such as comprehensive medical checkups, software training for children and bereavement support are provided for partners so that they can focus on their business growth. Free on- and offline education and management consulting programs also helped upskill partners and increase their business competitiveness.
Promoting inclusive growth for SMEs
NAVER has been promoting inclusive growth for SMEs across its platform. In 2017, NAVER also established its socially responsible fund, which is called 'Fountain Fund', to provide SMEs at all stages of business maturity with marketing solutions and consultation support. As of August 2021, the Fund has financed an accumulated KRW 320 billion.
NAVER’s Project Flower initiative supported small business owners and creators, while NAVER Partner Squares helped SMEs with studio and equipment for content development as well as providing on- and offline education in the areas of search, advertising, marketing, customer management and taxes. Through its D-commerce program, NAVER offered diverse training programs for SMEs supporting education and business infrastructure, marketing counsel and facilitating the cash flow stage of their business growth.
Applying own technologies to support the local community and SME growth
NAVER furthered its win-win growth by also protecting the local community through policy and technological efforts. NAVER was the first Korean internet company to develop and implement a QR code check-in service for customers to enter premises, promoting safe and healthy communities.
NAVER has also been assisting SMEs in the early stages of business to accelerate their growth through its technology such as AI and big data. NAVER has its own e-commerce marketplace where anyone can start a Smart Store, a commission-free online store, helping SMEs achieve digital transformation. Smart Store sellers can also take advantage of Biz Advisor, a big data analytics tool to optimize their performance and identify new opportunities. There are over 470,000 Smart Stores on the NAVER platform to date.
Lim Dong-a, executive officer of NAVER Environment said, “We are very pleased that NAVER's efforts and various initiatives for shared growth have been recognized through this award. NAVER will continue its efforts to develop a positive, mutually-beneficial culture in which companies, various partners of NAVER, and SMEs can grow together.”
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