Future Bonus Points Benefits for Public Construction Bids
Jinhung Enterprise, a construction affiliate of Hyosung Group, announced on the 4th that it has been selected as the top construction company for three consecutive years in the ‘2024 Mutual Cooperation Evaluation among Construction Contractors’ conducted by the Ministry of Land, Infrastructure and Transport.
The Mutual Cooperation Evaluation among Construction Contractors conducted by the Ministry of Land, Infrastructure and Transport is a system implemented to promote balanced development and efficient execution of the construction industry through the establishment of close mutual cooperation relationships among construction contractors.
Every year, companies are evaluated separately as large enterprises and small and medium enterprises based on items such as joint contracting and subcontracting performance with partner companies, financial support for partner companies, joint technology development and mutual activities with partner companies, and credibility, with scores assigned accordingly.
Jinhung Enterprise received positive evaluations for strengthening the review of the appropriateness of subcontract contract amounts and timely fund execution for partner companies to promote mutual growth and cooperation with partner companies.
It also received high additional points in safety evaluation items such as safety reinforcement measures related to accident prevention following the enforcement of the Serious Accident Punishment Act.
Jinhung Enterprise holds a Safety and Health Management Activity Meeting every month with the participation of safety officers, safety and health organizations, site managers, employees, and external expert inspection agencies to create a safe site with the goal of ‘Zero Serious Accidents (ZERO).’ They practice safety reinforcement measures such as delivering safety messages, sharing on-site risk factors, and preparing countermeasures.
High-risk tasks are selected on a weekly and daily basis. They identify high-risk factors through a smart app and carry out improvement activities company-wide to promote practical accident prevention activities.
A total of 20 large construction companies, including Jinhung Enterprise, received the highest grade. They will receive preferential benefits such as additional points in future public construction bids and penalty reductions under the Construction Industry Basic Act.
A representative of Jinhung Enterprise said, "We will continue to strengthen competitiveness through steady communication with partner companies and strive to become a company that pursues mutual growth together with partner companies."
Jinhung Enterprise stated, "In the ranking of the ‘2023 Construction Capability Evaluation Amount’ announced by the Korea Construction Association, we rose five places from the previous year to 47th," adding, "Although the construction market is challenging, we are maintaining solid performance and financial stability."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
