LIG Defense & Aerospace (LIG D&A) said on the 25th that it held a signing ceremony on the 21st at its Pangyo 2 House to share the gains from its export business by pledging research and development (R&D) support funds to top-performing suppliers.
The event was arranged to formalize R&D support payments to outstanding suppliers that contributed to the company's export performance and to reaffirm its commitment to shared growth.
The pledge marks the first case under the "Export Business Gain-Sharing Program," which LIG D&A newly established as part of its cooperative efforts with suppliers. The program selects suppliers that make significant contributions to export projects based on a comprehensive assessment of technology, quality and price competitiveness, and pays out support funds through a joint fund for large and small business cooperation. Four leading suppliers are covered, for a total of 2.3 billion won.
Attendees at the signing ceremony included Cha Sang-hoon, head of LIG D&A's corporate support division, along with Yoon Hyung-soo, director of the planning and coordination office at the Korea Foundation for Cooperation of Large & Small Business, Rural Affairs, and Park Byung-rae, CEO of Wave Electronics.
Separately, LIG D&A operates a range of shared-growth programs, including a "supply payment indexation system" designed to minimize supplier losses from raw material price swings and a "shared-growth fund" that lends operating capital to suppliers at low interest rates.
