Dongkuk Steel Signs 'Fair Trade Agreement' with Partners

[Asia Economy Reporter Hwang Yoon-joo] Dongkuk Steel held the '2021 Fair Trade Agreement Signing Ceremony' with its partners at the Incheon plant on the 12th.

The 'Fair Trade Agreement' is a system in which companies and their partners agree on detailed measures to prevent unfair trade practices and strengthen mutual competitiveness. At this ceremony, Dongkuk Steel and its partners pledged to implement detailed tasks to spread a culture of win-win cooperation.

Through this agreement, Dongkuk Steel strengthened communication and support with its partners. A new clause was added to hold 'communication forums' where the Win-Win Growth Promotion Office directly visits partners to listen to their opinions. Additionally, a clause was included to provide legal consultation support in labor matters to assist partners' management activities, and it was agreed to offer safety and health programs to prevent safety accidents among employees.

Furthermore, Dongkuk Steel agreed to continue efforts previously undertaken for win-win cooperation, including ▲ monitoring subcontracting contracts and expanding the application of standard contracts ▲ providing training to enhance the capabilities of partner employees ▲ improving payment approval conditions.

At the event, Kim Ji-hoon, Chairman of the Win-Win Growth Committee at Dongkuk Steel, stated, "Expanding win-win cooperation and collaboration with our partners will ultimately lead to strengthening the competitiveness of our industry," adding, "We will do our best to realize the value of win-win growth."

Since the proclamation of the Fair Trade Agreement in 2017, Dongkuk Steel has signed the agreement annually and received the 'Best' grade twice consecutively in 2018 and 2019 in the 'Fair Trade Agreement Implementation Evaluation' conducted by the Fair Trade Commission.