LS Industrial Systems Co. aims to create a synergy effect between itself and smaller companies by establishing strong business partnerships, the company announced.

By forming and managing the “ACE Club,” the company’s systematic structure for providing management know-how to selective business partners, LSIS has helped numerous small- and medium-sized enterprises gain a competitive edge since 2008.

LSIS helps its partners build an infrastructure that promotes skilled employees, the formation of a unified information system and voluntary innovation. These lead to improvements in quality, productivity, development and, ultimately, competitiveness, said the company.

The company also operates the ACE Club with strict standards ― depriving companies with poor results of membership ― in order to provide motivation.

As a result, the number of partners who produce over 10 billion won ($9.4 million) in sales rose from two in 2008 to 12 in 2012, and this number continues to grow annually, according to the company.

LSIS, in cooperation with Woori Bank, also gives financial support to its partners by allowing them to borrow its credibility and receive superior discounts on their loans and sales bonds.

Additionally, LSIS also administers a certificate of authentication to select partners under its “PV PARTNERS” program, which acknowledges companies that have successfully completed its training for quality construction. This ensures the reliability of the partners to its customers and creates positive effects, the company said.

Furthermore, the company also participates in various volunteer work activities and offers social contributions, not just as a part of its corporate responsibility policy but with the sincere goal of providing sustainable aid where needed, the company added.

“LSIS hopes to foster even more shared growth in the future through a collaborative effort with its growing number of partnerships,” a company official stated.

By Kim Joo-hyun (jhk@heraldcorp.com)