Hoban Signs 'Innovation-Driven Wage Gap Reduction Agreement' for Win-Win Cooperation with Partners

Hoban Group announced on the 30th that it signed the "Innovation-Driven Wage Gap Resolution Agreement" together with the Win-Win Growth Committee (Win-Win Committee) and partner small and medium-sized enterprises at Hoban Park Building 2 in Umyeon-dong, Seocho-gu, Seoul. From the left: Jinwon Kim, President of Hoban Industry; Jongmin Song, President of Hoban Construction; Kihong Kwon, Chairman of the Win-Win Committee; Seongjun Lee, CEO of Uchang Construction. (Photo by Hoban Group)

[Asia Economy Reporter Lee Chun-hee] Hoban Construction will invest 45 billion KRW over three years to eliminate wage gaps in cooperation with its partner companies.

On the 30th, Hoban Group announced that it signed the 'Innovation-driven Wage Gap Elimination Agreement' together with the Win-Win Growth Committee (Win-Win Committee) and partner small and medium enterprises (SMEs) at Hoban Park Building 2 in Umyeon-dong, Seocho-gu, Seoul.

About 20 people attended the signing ceremony, including Song Jong-min, President of Hoban Construction; Kim Jin-won, President of Hoban Industry; Kwon Ki-hong, Chairman of the Win-Win Committee; and Lee Sung-jun, CEO of partner company Uchangg Construction.

According to this agreement, Hoban Group will operate a win-win cooperation program to eliminate wage gaps. This program, focused on strengthening the technological competitiveness of partner SMEs, will be carried out over the next three years with a total budget of 45 billion KRW targeting partner SMEs and their employees. Starting this year, Hoban Group will provide emergency wage support to overcome COVID-19, health checkups and tuition support for employees, new technology development, startup company nurturing, and support for opening overseas sales channels to partner SMEs.

The wage gap elimination movement has been a project led by the Win-Win Committee since 2018 to resolve polarization between large corporations and SMEs. Large corporations, public enterprises, mid-sized companies, SMEs, and the Win-Win Committee sign agreements to comply with the three principles of 'proper payment': paying the right price, paying on time, and paying through win-win settlement. They autonomously implement gap-elimination win-win programs suitable for the size and industry characteristics of the companies.

Kwon Ki-hong, Chairman of the Win-Win Committee, said, "This agreement with Hoban Group includes direct wage support to overcome the COVID-19 crisis and incentives for excellent partner companies, serving as a model for win-win growth to overcome difficult times together." He added, "I hope this agreement will serve as a stepping stone for the construction industry, which holds a significant portion of our economy, to overcome the crisis threshold and lead the post-COVID era."

Song Jong-min, President of Hoban Construction, also said, "We believe that the growth of our partner companies is directly linked to the growth of Hoban Construction." He added, "Hoban Construction will continue to strive to provide various support and efforts for win-win growth with partner companies."

This content was produced with the assistance of AI translation services.