Selected as the Best Company for Seven Consecutive Years in the Win-Win Growth Index Since 2017
Focused on 'Fair Trade Compliance' and 'Win-Win Growth Support'
Providing Substantial Support and Win-Win Policies to Partners
Hyundai Engineering announced on the 8th that it received the highest rating in the ‘2023 Win-Win Growth Index Evaluation’ announced by the Win-Win Growth Committee, being selected as a top-tier company for seven consecutive years.
Hyundai Engineering has been selected as the top company in the Win-Win Growth Index for seven consecutive years from 2017 to 2023, externally proving the systematic and sustainable win-win growth policies pursued by Hyundai Engineering.
The ‘Win-Win Growth Index Evaluation’ is conducted by the Win-Win Growth Committee since 2011, combining the SME perception evaluation by the Win-Win Growth Committee and the Fair Trade Commission’s fair trade agreement compliance evaluation results at an equal ratio to classify the win-win growth level of large companies into five grades: top, 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 capability evaluation), and preferential selection as exemplary taxpayers by the National Tax Service.
Hyundai Engineering is conducting various win-win growth activities based on two pillars: ‘compliance with fair trade’ and ‘support for win-win growth.’
To comply with fair trade, Hyundai Engineering has introduced and operates a standard subcontract agreement and encourages Hyundai Engineering and partner company employees to sign an ethics pledge, striving to establish a culture of compliance. To eradicate unethical behavior by employees, it operates a cyber audit office and has a system in place to continuously report violations of the Fair Trade Act and ethics, such as unfair joint acts, unfair trade practices, and unfair subcontracting transactions.
For win-win growth, Hyundai Engineering provides various support in areas such as finance, funding, and technology to partner companies. First, to stabilize the finances of partner companies, it has established a 120 billion KRW win-win growth fund with commercial banks, allowing use at low interest rates, and also supports advance loans secured by future construction claims.
This year, Hyundai Engineering signed a comprehensive business agreement with the Korea Technology Finance Corporation under the Ministry of SMEs and Startups, the first in the construction industry, to support guarantees for operating funds and investment funds of overseas subsidiaries of partner companies entering overseas markets together.
It also supports the Tomorrow Filling Deduction program to induce long-term retention of key personnel in partner companies and attract excellent talent. For 180 key personnel from 32 partner companies enrolled in the Tomorrow Filling Deduction, Hyundai Engineering supports a corporate burden of about 200,000 to 240,000 KRW per person monthly. 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.
Hyundai Engineering provides various educational programs, offers patents free of charge, and has introduced a performance-sharing system. In addition, it is committed to technology support by thoroughly securing technology protection systems for technologies owned by partner companies.
A Hyundai Engineering official stated, “Hyundai Engineering will communicate and cooperate with all stakeholders including shareholders, customers, partner companies, employees, and local communities, and grow together based on mutual trust,” adding, “We will continue efforts for mutual growth through multifaceted support in management, finance, education, and technology for stakeholders.”
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