Dongbu Construction to Support 82.8 Billion KRW to Resolve Wage Gap with Partner Companies

Heo Sang-hee, CEO of Dongbu Construction (from the right), Kwon Ki-hong, Chairman of the Win-Win Growth Committee, and Kim Dae-sik, CEO of Minji Construction, are posing for a commemorative photo after signing the "Innovation-Driven Wage Gap Resolution Agreement" on the 26th at Dongbu Construction headquarters in Gangnam-gu, Seoul. (Photo by Dongbu Construction)

[Asia Economy Reporter Moon Jiwon] Dongbu Construction will support 82.8 billion KRW over three years for the welfare of employees of its partner small and medium-sized enterprises (SMEs).

On the 26th, Dongbu Construction announced on the 27th that it signed an agreement at its headquarters in Gangnam-gu, Seoul, with the Win-Win Growth Committee and representatives of partner companies to promote a culture of mutual growth and to reduce wage gaps.

At the signing ceremony, Dongbu Construction promised to provide 82.8 billion KRW over three years to partner SMEs.

First, to improve the liquidity issues of partner companies, it allocated 58.8 billion KRW in emergency operating funds to prepay construction payments for a certain period. Additionally, it secured 11.1 billion KRW for profit-sharing and performance-sharing systems, and 120 million KRW to support the welfare of employees of partner companies.

Furthermore, Dongbu Construction plans to support the introduction of the Win-Win Growth Mall, management and security diagnosis consulting, subcontracting law and Construction Industry Basic Act trend education, and safety management training.

This year, Dongbu Construction contributed 100 million KRW to the Foundation for Large, Small, and Medium Enterprises and Agriculture-Fishery Cooperation, and based on this fund, it is conducting various win-win growth projects such as rewarding excellent partner companies and supporting quarantine supplies.

Dongbu Construction received an excellent grade in the '2019 Win-Win Growth Index Evaluation' announced by the Win-Win Growth Committee last September, and in June, it received the highest grade for three consecutive years in the mutual cooperation evaluation hosted by the Ministry of Land, Infrastructure and Transport.