{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

SR_eng_stakeholder engagement - 8 Overview I STAKEHOLDER...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
8 STAKEHOLDER ENGAGEMENT LG Electronics works to involve stakeholders in everything we do. We are committed to being a corporate that communicates openly with stakeholders, earns their trust, and uses their feedback to guide management decisions. C U S T O M E R S S H A R E H O L D E R S / I N VE S T O R S P A R T N E R S E M P L O Y E E S C E N T R A L A N D L O C A L G O V E R N M E N T S N G O s / I N T E R N A T I O N A L O R G A N I Z A T I O N S LGE’s motto of “Creating Value for Cus- tomers” applies to our work on behalf of all customers worldwide. In 2009 we re- corded KRW 55 trillion in sales, with 28% in North America, 21% in Europe, 13% in Asia and 12% in Korea. (Service Center, Survey, Exhibition, Websites, Blogs, Homemakers’ Product Review Group, Reports) We include NGOs and international orga- nizations in the planning and execution of a wide range of CSR activities. (Seminar, Discussion Meeting, Community Care Activities, Websites, Reports) As of year-end 2009, LGE had 149,038 shareholders. 31.1% of the corporate’s stock is held by LG Corp., the holding company of LG Group, 35.7% is held by institutional investors and individuals in Korea, and 33.2% is owned by foreign investors. Market capitalization, including preferred stock, closed the year at KRW 18.43 trillion, with common stock com- prising KRW 17.57 trillion of the total. (General Shareholders’ Meeting, Performance Presentation, Investor Conference, Websites, Reports) LGE abides by the laws and regulations, including tax laws, of over 120 countries. In many cases, we carry out joint R&D projects in cooperation with the central governments of the countries where we do business. (Public Hearing, Discussion Meeting, Seminar) We work with over 5,400 direct component suppliers worldwide. Purchases from them amount to around 75% of LGE’s total sales. (Global Supplier’s Day, Supplier Portal, Supplier’s Satisfaction Surveys, Proposal System, Reports) In addition to the operations in Korea, LGE does business through an overseas network of 83 subsidiaries in more than 120 countries. 29 of these are production units, while 44 are sales units. Total overseas employees number 53,539, including sojourning employees dispatched from Korea. Local purchases represent approximately 50% of the corporate’s entire purchase amounts. (Community Care Activities, Sports Sponsorship, Discussion Meeting, Websites, Reports) As of year-end 2009, LGE employed a total of 82,136 people. 28,597 or 34.8% are Korean, and 53,539 or 65.2% are overseas. These numbers are a decrease of about 2,400 employees from the previous year. (Open Communication, Labor-man- agement Conference, Digital Board, Monthly Magazine (Pride LG), Intra- net, News Letter, LG Way Survey) OVERVIEW I STAKEHOLDER ENGAGEMENT C O M M U N I T Y
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
9 EMPLOYEE SURVEY In February of 2010, over 60,000 LGE’s Korean and overseas employees were asked to comment on the corporate’s CSR activities. A total of 3,429 employees responded to the survey (2,732 in Korea and 697 from other countries). The respondents’ comments indicated that the corporate needs to create interactive programs and training materials to improve employees’ understanding of CSR issues and their importance.
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern