SK Construction Signs Fair Trade Agreement for Mutual Growth with Partners

▲ On the 16th, SK Construction held the 'Happy Wings Council Fair Trade Agreement Ceremony' at the G-Plant building in Susong-dong, Jongno-gu, Seoul. (Provided by SK Construction)

[Asia Economy Reporter Lee Chun-hee] SK Engineering & Construction announced on the 17th that on the 16th, it held the 'Happy Wings Council Fair Trade Agreement Ceremony' at the G-Plant building in Susong-dong, Jongno-gu, Seoul, attended by President Lim Young-moon and the chairpersons of the Happy Wings Council composed of business partners (collaborating companies).

The fair trade agreement is a system in which large corporations and their partners voluntarily agree in advance on detailed measures to prevent unfair trade practices and strengthen mutual competitiveness.

Through the agreement ceremony, SK Engineering & Construction promised to comply with the four major fair trade practices of the Fair Trade Commission, including desirable contract conclusion to establish fair trade order, fair selection and operation of partner companies, establishment and operation of an internal review committee for subcontract transactions, and proper issuance and preservation of written documents.

The company plans to continuously operate win-win cooperation programs, such as improving unfair practices through subcontracting education and on-site inspections, and increasing the scale of win-win growth loans, which lend operating funds interest-free to business partners, to 40 billion KRW. SK Engineering & Construction was recognized for these efforts and was the only company in the construction industry to receive the highest grade for three consecutive years in the Win-Win Growth Index evaluation hosted by the Win-Win Growth Committee in June last year.

President Lim said, "Due to the difficulties in the management environment this year caused by COVID-19 and the global economic downturn, cooperation with business partners is more urgently required," adding, "We plan to implement various support measures to establish a culture of fair trade and strengthen the competitiveness of our business partners."

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