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Win-Win Growth

Hyundai Engineering’s policies and activities of shared growth

Implementation of regular sub-contractor conferences and site visit

Hyundai Engineering is listening to the voice of subcontractors and trying to resolve their problems as visiting the main sites by the management staffs and holding conferences among the outstanding subcontractors.
HEC, the council of subcontractors established in September 2013 will play a vital role for mutual growth of Hyundai Engineering and subcontractors as well as contribute to solve pending problems and activating joint participation in social issues.
Also, Hyundai Engineering is striving to upgrade the quality of constructions through cooperating activities with subcontractors as running the HEC council in domestic public construction projects which is a part of an effort of site-focused management.

Improvement in proportion of payment of subcontract fee and date of payment release

Hyundai Engineering is consistently trying to improve the payment condition of subcontract fee to enhance subcontractors’ management. We have lowered the threshold for cash payment amount of subcontract fee from 50,000,000 won at a minimum in 2013 to 100,000,000 won at a minimum in 2014 in order to increase the cash payment ratio of subcontract fee and to make the payment release date earlier.

Financial support

Hyundai Engineering helps subcontractors get access to low-interest loans through operating shared growth fund and contracting the network-loan with IBK.
In addition, we are contributing to reinforcement of subcontractors’ financial health by funding management support fee at no interest for those who are in financial difficulties.

Education & Training Support

Hyundai Engineering puts efforts to increase productivity of staffs of subcontractors by providing them with various training programs such as mutual cooperation education in construction industry, cyber education, safety training, technical training for temporary facilities, etc. Furthermore we are supporting small or medium sized subcontractors in pioneering their way into the global market as passing on our know-hows about foreign market entry strategy.

Joint research development and technical support

Hyundai Engineering is continually expanding its research cooperation with subcontractors and technical support. In 2013, we have performed three cooperation researches- performance evaluation of modular test housing construction, invention of Korean root-proofing concrete, and structural analysis of noise between floors in apartment houses-and two of them ended up with conclusion of contracts with the subcontractors as resulting in mutual value creation through joint efforts.
In addition, we are fully supporting small businesses to strengthen their technical capability by offering sites for their evaluation of new technology such as HIPC and V beam and by making a contract which enables the small businesses to obtain 100% of their patent fee except the patent technology is applied in project sites of Hyundai Engineering.