Hanhil Cement Provides 1.9 Billion KRW to Secure Talent from Partner Companies

From the left in the photo are Kim Hak-do, President of the Small and Medium Business Corporation, Jeon Geun-sik, CEO of Hanil Cement, and Kim Young-hwan, Secretary General of the Foundation for Cooperation between Large, Small, and Medium Enterprises and Agriculture and Fisheries, posing for a commemorative photo after the 'Win-Win Cooperation and Mutual Growth Agreement Ceremony.' [Photo by Hanil Cement]

[Asia Economy Reporter Kim Jong-hwa] Hanil Cement has expanded its win-win management programs, including the introduction of the 'Tomorrow Filling Deduction' to secure talent from partner companies.

On the 14th, Hanil Cement announced that on the 10th, it held a 'Win-win Cooperation and Mutual Growth Agreement Ceremony' through the win-win cooperation type Tomorrow Filling Deduction at its headquarters in Seocho-dong, Seoul, together with the Small and Medium Business Corporation and the Foundation for Cooperation between Large, Small, and Medium Enterprises and Agriculture and Fisheries.

The win-win cooperation type Tomorrow Filling Deduction is a system where the primary contractor and the partner company’s workers jointly accumulate deduction funds for five years, and upon maturity, the workers receive the funds with compound interest. A distinctive feature is that the deduction funds accumulated by the partner company’s business owner are supported by the primary contractor. Through this system, Hanil Cement plans to provide support funds amounting to 1.9 billion KRW to about 100 partner company workers and intends to expand the support target so that more workers can benefit in the future.

In addition, Hanil Cement’s win-win management continues steadily. Since 2014, it has operated a 11 billion KRW scale win-win cooperation fund to allow partner companies to borrow funds at low interest rates, and it implements a fuel price linkage system that adjusts contract payments according to fuel price fluctuations. Sharing management performance through awards for excellent partner companies and additional contract payments, and providing consulting in specialized fields such as labor are also part of Hanil Cement’s win-win management efforts. To ensure partner companies are not excluded from a safe working environment, it has allocated a budget of more than 1.4 billion KRW this year to invest in achieving accident-free workplaces.

Jeon Geun-sik, CEO of Hanil Cement, said, "Mutual growth with partner companies is an important task corresponding to social responsibility, one of the core values of ESG management," and added, "Just as we introduced the win-win cooperation type Tomorrow Filling Deduction for the first time in the cement industry, we will continue to lead a corporate culture of coexistence."

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