Hyundai Engineering, Awarded 'Best Win-Win Growth Company' for 5 Consecutive Years

Hyundai Engineering Headquarters Building.

[Asia Economy Reporter Kim Hyemin] Hyundai Engineering announced on the 22nd that it has been selected as a top-tier company for five consecutive years in the '2021 Win-Win Growth Index Evaluation.'

The Win-Win Growth Index Evaluation is conducted by the Win-Win Growth Committee, which since 2011 has combined the results of a small and medium-sized enterprise (SME) perception survey and the Fair Trade Commission's fair trade agreement compliance evaluation in equal proportions to classify the level of win-win growth of large companies into five grades. Companies selected as top-tier receive benefits such as a two-year exemption from the Fair Trade Commission's subcontracting authority investigation, additional points in the Public Procurement Service's public bidding PQ (Pre-Qualification Evaluation), and preferential selection as exemplary taxpayers by the National Tax Service. Hyundai Engineering has been selected as a top-tier company for five consecutive years since 2017.

Hyundai Engineering conducts its activities based on two pillars: compliance with fair trade and support for win-win growth. First, to stabilize the finances of partner companies, it established a win-win growth fund worth 120 billion KRW with commercial banks, allowing partners to use it at low interest rates. Subcontracting payments are made 100% in cash within 10 days from the date of issuing the tax invoice.

Last year, Hyundai Engineering signed a business agreement with the Small and Medium Business Corporation to strengthen the competitiveness of excellent small and medium partner companies and also supported the Tomorrow Filling Deduction program to encourage long-term employment of key personnel at partner companies. Currently, it supports 34 partner companies and 190 individuals enrolled in the Tomorrow Filling Deduction program by providing a corporate contribution of approximately 200,000 to 240,000 KRW per person per month. Hyundai Engineering is the first company to fully support the deduction payments borne by the company.

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