Hyosung hosts Win-Win Growth Meeting of Construction PG for the first half 2014

Hyosung Construction PG (Performance Group), which consists of three companies - Hyosung Construction PU, Hyosung Ebara Engineering and Chinhung - announced on the 27^th that they hosted a ‘Win-win Growth Meeting’ for the first half of 2014 at Seoul Palace Hotel, with over 50 outstanding partners invited to discuss win-win-cooperation, fair transactions in subcontracting, joint technology development and educational support.

Hyosung and the partners were divided into four branches ----- win-win growth branch, fair trade branch, technological cooperation branch, and educational cooperation branch ----- and exchanged ideas about ways to achieve ‘win-win.’ In the meeting, Hyosung and the partners decided to promote mutual technology development to reduce the noise between floors, develop environment-friendly materials, and use various apartment spaces, and also to expand support for business consulting and education for outstanding partners.

Having formed the Win-Win Growth Council last year to enhance win-win growth with partners in the construction sector, Hyosung decided to host Win-Win Growth Meetings twice a year to discuss win-win-cooperation, fair transactions in subcontracting, joint technology development and educational support. This was the third meeting after April and July 2013.

There was also a ceremony awarding outstanding partners during the meeting. Dae Myong Civil (earthworks) was selected as the Best Partner, while Excellent Partners included Hwaeung Construction (for the erection of frameworks), Jinmyoung Engineering and Construction (for electric work), and Samwoo Safety Facilities (for equipment work). The four selected companies will be provided with an optional contract opportunity as a reward.

Hyosung sees the Win-Win Growth Meeting as a way to achieve win-win cooperation. At the same time, Hyosung has operated the Integrated Procurement Department under the direct control of the Construction PG (Performance Group) Head since July 2012, increasing opportunities for bidding and profitable orders of over 600 selected partners.

By integrating the volume orders of three construction companies in the group, Hyosung can now enhance its cost competitiveness while partners can expect an increase in profitable orders due to more bidding opportunities. The supply of orders sent out by the three companies through the Integrated Procurement Department in 2013 is worth approximately 800 billion KRW.

The Construction PG of Hyosung hosts various events such as hiking with employees from partner companies in pursuit of informal and casual interactions across its business ecosystem.