[Consumerwide - Jinil Kang Reporter / Yohan Bok Reporter] Businesses are passing on a positive influence as a part of their shared growth plan by helping small farms with the discovery of sales partners, offering more work places in local areas, and facilitating a funding programme as a part of practicing social responsibility. This can be a measure for ESG management and consumption value.
On the second, referring to the industry, Coupang has purchased produce in order to contribute to price stability while expanding the sales partners of Korean farms in times of hardship due to management.
Between July and September, they purchased 370 tonnes of ugly vegetables, which include radish, carrot, cucumber, paprika, and 18 types, from overall Korean farms such as Gangwon Pyeongchang, Jeonbuk Iksan, and Gyeongnam Changnyeong. From October 19th to October 22nd, Coupang also purchased 250 tonnes of ugly fruits due to the extreme weather. In September, Coupang purchased 60 tonnes of injured apples caused by hail from apply farms and also 400 tonnes of ugly tomatoes. Coupang purchased fruit leftover stocks from farms due to the short Chuseok holiday—100 tonnes of apple stocks last year and 200 tonnes of fruits this year. The purchase of ugly fruits and vegetables contributed to price stability during high inflation because they could be sold at a budget price in the market. An associated person from Coupang said, "The more we purchase ugly fruits and vegetables, more local farms will have a chance for sale. Besides, it has the effect of reducing consumer burdens due to the high price. We plan to continue to support farms, including farms led by young adults who are the future of Korean farms, in domestic areas."
The Starfield Suwon branch, which is going to be launched during the year, has hosted the "Shared Growth Recruitment Exposition,", which aims for shared growth by local hiring at a 1300-person scale, on the 27th of October.
Ottugi is hiring new staff from the second half of the year until the second. This might be a good opportunity for young adults during the economic downturn, and it is a practice of shared growth.
Hite Jinro is facilitating a shared growth programme aiming to reduce losses for consumers, small businesses, and partners from November 9th due to the recent price change of Soju, which has risen by 6.95% in wholesale standards.
The alcohol wholesalers are delaying the return of loans that they have leased to restaurants. They are also accumulating 30 won per bottle sale for Chamieseul and Jinro products till the end of the year. The accumulated finances are entirely used for sponsoring children of food restaurants, giving away health enhancement vouchers to restaurants, and supporting the necessities of partner businesses.
- [Consumption value-Project]① "They've been telling us about ESG practices."...KCG 2023 overall evaluation
- [Consumption value-Project] ③ Delivery apps are leading to a healthy and safe delivery food culture and the restoration of trust. Leading consumption value
- [Consumption value-Project] ④ Korean Braille Day, industry is initiating enhancement of the quality of life of citizens with visual impairments, which leads to consumption value
- [Consumption Value-Project] ⑤ Car: Consumers are turning to cars that are affordable during the economic recession, along with high oil prices in October. Rational consumption is rising
- [Consumption value-Project] ⑥ Sharing: From homemade kimchi to charcoal briquettes, citizens, government, and military are sharing
- [Consumption value-Project]⑦ Businesses are practicing ESG through beach cleaning... Consumption value through environmental protection
- [Consumption value-Project]⑧Car: hybrid cars are taking the lead in the new car market.
- [Consumption value-Project]⑨ The car industry is taking a step towards social contribution regarding citizens with low incomes
- [Consumption value-Project] ⑪ The delivery app industry is practicing ESG through volunteering and shared growth, "from the delivery of briquettes to caring for riders in cold weather.”
- [Consumption value-Project] ⑩ The home appliance industry is leading consumption value by sharing, donating, and volunteering