LG Uplus pledges W222 bln over 3 yrs to support vendors
SEOUL, Oct. 9 (Yonhap) -- South Korean mobile service provider LG Uplus has promised to provide up to 222 billion won (US$185 million) over the next three years to help its suppliers, the company said Wednesday.
Under an agreement signed with the Korea Commission for Corporate Partnership aimed at reducing the salary gap between its own workers and those of smaller suppliers, the company agreed to spend 50 billion won by 2022 for joint development of new technologies with its smaller partners.
The company will provide an additional 50 billion won to help its suppliers develop and test their own new technologies.
The mobile carrier will provide 90 billion won in additional funds to help enhance the financial stability of the smaller firms, it said.
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