Hyundai Engineering Selected as Best Partner Growth Index Company for 4 Consecutive Years

Selected as the Best Company in the Win-Win Growth Index for 4 Consecutive Years Since 2017
Support for Partners and Win-Win Policies Centered on 'Fair Trade Compliance' and 'Win-Win Growth Support'

The appearance of the Hyundai Engineering office building.

[Asia Economy Reporter Kangwook Cho] Hyundai Engineering announced on the 15th that it was selected as a top-tier company in the ‘2020 Win-Win Growth Index Evaluation’ announced by the Win-Win Growth Committee. With this, Hyundai Engineering has been ranked as a top-tier company in the Win-Win Growth Index for four consecutive years from 2017 to 2020.

The ‘Win-Win Growth Index Evaluation’ is conducted by the Win-Win Growth Committee since 2011 by equally combining the results of the SME perception survey by the Win-Win Growth Committee and the fair trade agreement compliance evaluation by the Fair Trade Commission, categorizing the level of win-win growth of large companies into five grades: top-tier, excellent, good, average, and poor. Companies selected as top-tier receive benefits such as a two-year exemption from the Fair Trade Commission’s subcontracting authority investigation, 2 points added to the Public Procurement Service’s public bidding PQ (Pre-qualification, prior business performance evaluation), and preferential selection as exemplary taxpayers by the National Tax Service.

Hyundai Engineering, under the awareness that the capabilities of its partners are directly linked to Hyundai Engineering’s competitiveness, has a strong commitment to win-win growth and carries out various win-win growth activities based on two pillars: ‘compliance with fair trade’ and ‘support for win-win growth.’

To ensure the financial stability of its partners, Hyundai Engineering established a 60 billion KRW Win-Win Growth Fund with commercial banks so that partners can use it at low interest rates. It also pays subcontracting fees 100% in cash within 10 days from the issuance date of the tax invoice and fully supports contract-related performance guarantee fees, subcontract contract stamp duties, and labor cost.com transfer fees, contributing to improving the financial condition of partners struggling to secure funds due to the prolonged COVID-19 pandemic.

In addition, in June, Hyundai Engineering signed a business agreement with the Small and Medium Business Corporation to strengthen the competitiveness of excellent small and medium partners and implemented support for the Tomorrow Filling Deduction program to induce long-term retention of key personnel and attract talented individuals. Over the next five years, it will support a monthly corporate burden of about 200,000 to 240,000 KRW per key personnel for 190 employees from 34 partner companies enrolled in the Tomorrow Filling Deduction. This is the first case of fully supporting the deduction payment borne by the company, actively contributing to government job policies and being recognized as an effort to strengthen ESG management through win-win cooperation between large and small-medium enterprises.

Furthermore, Hyundai Engineering contributed to enhancing the competitiveness of its partners by operating various educational programs necessary for their job functions.

A Hyundai Engineering official said, "Now, when all industrial sectors are experiencing a downturn due to the prolonged COVID-19 crisis, close cooperation and communication with partner companies are more necessary than ever," adding, "We will continue to implement win-win growth policies that grow together by actively listening to the difficulties and suggestions of our partners and providing the support they truly need."