[2021 Asia Construction Awards] Daewoo E&C Establishes Dedicated Department for Win-Win Growth, Practices Fair Trade with Partners

Daewoo E&C, which received the Asia Economy Grand Prize in the Win-Win Cooperation category, has been consistently supporting its partners based on the philosophy that "the growth of partners is the growth of Daewoo E&C."

Daewoo E&C established the Procurement Planning Team, the first dedicated department for win-win growth in the construction industry last year, to support the establishment of a fair trade order culture with partner companies. By faithfully reflecting the "Four Major Fair Trade Practices" proposed by the Fair Trade Commission in internal procedures, it is also fundamentally preventing the occurrence of unfair trade practices.

Earlier in 2019, to exclude unfair special agreements in transactions with partner companies, Daewoo E&C standardized the use of site explanation documents and revised guidelines to require prior issuance of work instructions for changes or additional work. Through this, it has achieved the effect of preventing potential losses for partner companies and maintaining transactions on an equal footing.

Daewoo E&C operates a win-win growth fund to create a smooth cash liquidity environment for partner companies with relatively weak financial bases. The fund amounts over the past five years were KRW 27.2 billion in 2016, KRW 28 billion in 2017, KRW 28 billion in 2018, KRW 28 billion in 2019, and KRW 14 billion in 2020, and as of 2021, it is managing funds worth KRW 20 billion.

Daewoo E&C employees are participating in the social contribution activity "Repairing Houses of Hope," performing wallpapering work.

Daewoo E&C also carries out social contribution activities together with partner companies. The company changed the existing excellent partner company group to the "Win-Win Council" and launched a new council in 2019 with 22 excellent partner companies.

As its first external activity, the Win-Win Council jointly donated sponsorship goods worth approximately KRW 11 million, including diapers and thickeners, to Ilsan Holt Welfare Town, a facility for children with disabilities located in Gyeonggi-do, in July 2019.

Although social contribution activities faced restrictions due to the reduction of face-to-face activities caused by COVID-19, Daewoo E&C has actively introduced non-face-to-face programs and continues support activities in local communities.

A representative social contribution program is the "Repairing Hope Houses" campaign in collaboration with Habitat for Humanity Seoul Chapter. Leveraging the characteristics of the construction industry, this is a social contribution activity that Daewoo E&C can do best. It visits households struggling with aging housing that are difficult to repair on their own and carries out improvement work such as wallpapering, flooring, and sink replacement. To date, over 2,000 employees have participated in more than 100 sessions of the "Repairing Hope Houses" campaign.

A Daewoo E&C official said, "Corporate social contribution activities should not be simply donations but should create social value linked to the company's core competencies," adding, "All Daewoo E&C employees will continue to strive to build a company that fits the vision of 'Build Together, a company that realizes the best value with customers.'"

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