Sustainability
Performance Sharing Program
In compliance with Article 8 of the Act on the Promotion of Collaborative Cooperation Between Large Enterprises and Small-Medium Enterprises, Hyundai Steel has adopted a performance sharing program on its partnerships. The performance sharing program is to make sure that entrusted and consignment companies share performance results by helping the entrusted company to accomplish the joint objectives agreed between the two parties beforehand. This can be applied to all sorts of partnerships, including cost reduction, product localization, and/or development of substitutes or improved products. Hyundai Steel has a suggestion page for these categories on its procurement portal site for partner companies at http://hpro.hyundai-steel.com/spmainpage.do. All suggestions received on the webpage are reviewed following procedures and any ideas adopted are fairly rewarded with incentives, such as long-term supply contracts on development results, as a means of sharing the performance results with our partner companies.
Large Corp-SME Energy Partnerships
As part of our commitment for our shared growth initiative, Hyundai Steel imparts its energy control know-how to its SME partners, especially when it comes to energy technology diagnosis.- Sponsor : Greenhouse Gas Reduction Team at the Ministry of Trade, Industry and Energy, Business Institute for Sustainable Development, and the Green Business Association
- Contact : Environmental & Energy Management Team at Hyundai Steel at +82-2-3464-6223
| Large Corp-SME Energy Partnership Project | ||
|---|---|---|
| Energy Management and Business Administration Training | 1 session | - Working-level staff of partner companies |
| Energy Diagnosis and Technological Support | 5 sessions per company |
- Due diligence on energy management status (once) - On-site energy diagnosis (4 times) - Technological review of diagnosis results and economic efficiency evaluation |
Management Doctor System
HYUNDAI STEEL is performing a Management Doctor Program organized by a management advisory group at the Federation of Korean Industries for enhancing competitiveness of SME partners and for the sake of shared growth between large and small-medium enterprises. The tripartite cooperative network between the KFI management advisory group, large corporation and SME partners collaborates on business consulting to the SME partners for a six-month period to help them improve business management and develop mid- to long-term growth platforms.-
- Eligibility
- SME partners of HYUNDAI STEEL
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- Areas
- Business strategy, technology/production/quality, marketing, HR/labor, funds/finances
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- Period
- 6 months (counseling fee is free)
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- Contact
- HYUNDAI STEEL Sustainability Management Team
| Partner Company | FKI Management Advisory Group | Large Enterprise |
|---|---|---|
|
Application for consultation → Large enterprise -Application for business consulting on business issues and strategy-building |
Consultation matching → Notification to the large enterprise & SME partners -Selection of advisory member in charge (Matching) -Planning and organization of consultation program |
Recommendation of company → FKI -Identifying the demand of partner companies and recommending the beneficiary of the Management Doctor Program |
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Consultation Cooperation -Participation of CEO in business consulting -An exclusive TFT on the implementation of consulting details (recommended) |
Consulting service (within 6 months) -General management diagnosis, SWOT check -Suggesting competitiveness improvement plans on marketing and other areas -Free-of-charge business consulting and imparting business management know-how to the partner company -Providing customized training sessions (1 or 2 times) |
Support/Checkup -Identify difficulties of a partner company and supporting them with joint technology R&D or new market advance by the partner company -Performance review of the Management Doctor Program and preparing improvement plans on weak points -Interim review through reporting sessions to participant companies |
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Analysis of consulting results - Performance review on the implemented details |
Follow-Ups - Follow-ups and monitoring such as performance review presentation and business mentoring |
Follow-Up Management - Progress report presentation on the Management Doctor Program and continued support to the partner company |
Shared Growth Agreement between Large and Small-Medium Enterprises for a Co-prosperous Business Ecosystem
In cooperation with related parties, HYUNDAI STEEL enters into shared growth agreements with its partner companies specialized to the specific needs of each region to establish co-prosperity and spread the culture of shared growth through its entire business ecosystem.
