Hyundai Engineering "Selected as Best Company for 3 Consecutive Years in Win-Win Growth Index Evaluation"

[Asia Economy Reporter Yuri Kim] Hyundai Engineering announced on the 8th that it was selected as a top-tier company for three consecutive years in the '2019 Win-Win Growth Index Evaluation' announced by the Win-Win Growth Committee.

Hyundai Engineering stated, "We have been selected as a top-tier company in the Win-Win Growth Index for three consecutive years from 2017 to 2019, and this time we have been crowned as an 'Excellent Honorary Company.'"

The Win-Win Growth Index evaluation is conducted by the Win-Win Growth Committee since 2011 by equally combining the results of the small and medium-sized enterprises' perception survey by the Win-Win Growth Committee and the Fair Trade Commission's fair trade agreement compliance evaluation. It classifies the level of win-win growth of large companies into four grades: top-tier, excellent, good, and average. Companies selected as top-tier receive benefits such as a two-year exemption from the Fair Trade Commission's subcontracting authority investigation, 2 points added in the Public Procurement Service's pre-performance capability evaluation (PQ) for public bidding, and preferential selection as exemplary taxpayers by the National Tax Service.

Hyundai Engineering explained that it is conducting win-win growth activities based on two pillars: 'compliance with fair trade' and 'support for win-win growth.' To ensure the financial stability of partner companies, it established a 60 billion KRW scale win-win growth fund with commercial banks so that partners can use it at low interest rates, and also operated a 12 billion KRW scale interest-free direct loan, helping stabilize the finances of about 50 partner companies last year.

At the overseas expansion training for partner companies held at the end of last year, about 80 executives and employees from partner companies attended lectures prepared by Hyundai Engineering on overseas construction market trends and prospects, and the Fourth Industrial Revolution in the construction industry. In addition, it operated various educational programs necessary for job duties, contributing to the improvement of partners' own competitiveness. Hyundai Engineering added that it complies with the four major fair trade guidelines: ▲ desirable contract conclusion ▲ establishment and operation of an internal review committee for subcontract transactions ▲ proper issuance and preservation of documents ▲ selection and operation of partner companies, and operates by introducing a standard subcontract contract.

Meanwhile, Hyundai Engineering was also selected as a top-tier company for seven consecutive years in the 'Mutual Cooperation Evaluation' selected by the Ministry of Land, Infrastructure and Transport in June. A Hyundai Engineering official said, "As the COVID-19 pandemic prolongs, all industries are experiencing a downturn, making close cooperation and communication with partner companies more necessary than ever," and added, "We will continue to implement win-win growth policies that grow together with our partners."

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