Gyeongbuk Development Corporation Receives Minister of Trade, Industry and Energy Award at the Korea Value Management Awards
Gyeongbuk Development Corporation announced on the 29th that it received the Minister of Trade, Industry and Energy Award in the public sector at the 2023 'Korea Value Management Awards' held at the Anyang Chamber of Commerce and Industry in Gyeonggi-do.
The 'Korea Value Management Awards' is jointly hosted by the Korea Value Management Association and the American VE Association (SAVE International). It evaluates the achievements of VEM (Value Enhancing Methods) performed in public and private companies and awards organizations and individuals to raise the core competencies through sharing excellent cases.
The selection process was conducted through document and presentation evaluations targeting value engineering projects. The judging panel consisted of 10 related experts who assessed the value improvement effect, step-by-step execution content, and execution system according to evaluation criteria, including value enhancement and creativity, followed by on-site evaluations. A total of 20 teams from the corporate sector and 11 teams from the individual sector participated from local governments, public institutions, and the private sector, competing to determine the final winners.
Gyeongbuk Development Corporation participated with a case of saving a total budget of 5.1 billion KRW in six areas including complex development, landscaping, agricultural drainage channels, retention ponds, reservoirs, and electricity in the phase 2 detailed design VE of the Gyeongbuk Provincial Government New Town construction project, winning the Minister of Trade, Industry and Energy Award.
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Lee Jae-hyuk, president of Gyeongbuk Development Corporation, said, “We will continuously strive to become a public enterprise for the residents that realizes value engineering focused on performance and value improvement through the application of economical and efficient new technologies and new construction methods in line with the recent paradigm of value engineering.”
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