Lotte Construction, Asea General Construction and 56 Others Selected as '2020 Excellent Partners'

[Asia Economy Reporter Donghyun Choi] Lotte Construction has selected 56 outstanding partner companies this year.

According to the industry on the 31st, Lotte Construction has annually selected outstanding partner companies and held award ceremonies along with win-win growth agreement ceremonies. This year, due to the novel coronavirus infection (COVID-19), all award ceremonies and agreement ceremonies were canceled, and plaques awarded to outstanding partner companies and information on support measures were delivered by mail.

Through this regular evaluation, Lotte Construction awarded three top partner companies, including Asea General Construction, with a prize of 30 million KRW each and plaques. Dusong Construction and Woojin INS, which contributed to safe construction and building, were selected as the safest and outstanding partner companies. The safest companies received a prize of 20 million KRW and plaques, while the outstanding safety companies received a prize of 10 million KRW and plaques.

Lotte Construction provides benefits to the selected outstanding partner companies, including 100% cash payment of progress payments, expanded contract opportunities (priority bidding opportunities), exemption and reduction of contract performance bonds, financial support such as loans and win-win growth funds, and customized management consulting.

A Lotte Construction official stated, "Lotte Construction has established various communication channels for win-win growth through the Win-Win Growth website and the Outstanding Partner Council (Lotte Partners)," adding, "We are making efforts for win-win growth by sparing no support to strengthen partner companies' technological capabilities, such as joint new technology development and joint patent applications."