SR_eng_stakeholder engagement

SR_eng_stakeholder engagement - 8 Overview I STAKEHOLDER...

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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 H A L D / I N V P Y G s IZ TIO NS 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 COMM UNITY
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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.
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This note was uploaded on 08/05/2011 for the course ACCT 11212 taught by Professor Davis during the Spring '11 term at York College of Pennsylvania.

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SR_eng_stakeholder engagement - 8 Overview I STAKEHOLDER...

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