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Hyundai promotes shared growth

Automaker hosts events to support business partners
May 20,2017
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Hyundai Motor Group organized the R&D Cooperative Tech Festival, which allowed Hyundai’s business partners to share technological information and learn about the newest trends in R&D. [HYUNDAI MOTOR GROUP]
Hyundai Motor Group has established three goals to promote shared growth among its business partners: cultivating global competitiveness, strengthening foundations for continued growth and establishing a shared growth system.

The automaker has been offering various programs to help achieve these targets in a number of areas - including fair trade, energy solutions and technological support - in order to help its business network navigate a volatile environment.

The group hosted a job fair to help its associates recruit new talent and led culture and education programs for their staff and families. The company organized the R&D Cooperative Tech Festival, which publicized new technologies developed by the businesses. The event allowed companies to share technological information and learn about the newest trends in R&D.

The automaker regularly sends officials to visit the companies, hear about the problems facing the business and work to solve these issues together, ensuring the group and its business partners grow together.

Last year, Hyundai Motor signed a fair trade agreement with its 2,380 business partners. The agreement presents guidelines for fair trade and promotes healthy coexistence among conglomerates and their business partners. The group has been renewing its agreement since 2008, and 11 subsidiaries of Hyundai Motor signed a memorandum of understanding with the companies.

The group and its associates have also been concentrating on solving energy problems. Last September, Hyundai Motor hosted a discussion on energy saving with 38 of its business partners. The event was part of its project to reduce energy consumption and greenhouse gas emissions. Participating companies gave presentations on energy-efficient operational methods and machinery alongside relevant case studies.

Hyundai Motor is the first company in the motor industry to collaborate with its partners to save energy. Its programs and events have been especially helpful for business partners that previously did not have the knowledge and technology to reduce energy consumption. The automaker plans to continue to work with small- and mid-sized companies as it responds to climate change.

Last July, the group signed a memorandum of understanding with the Ministry of Trade, Industry, and Energy, the Korea Institute for Advancement of Technology and various small- and mid-sized companies. Through the MOU, Hyundai Motor agreed to share its technology with 29 companies.

In 2016, Hyundai Motor’s sister company Kia Motors hosted job fairs in five cities throughout Korea. The events, much like the job fairs held by Hyundai Motor, gave Kia’s small- and mid-sized business partners the opportunity to recruit talented job seekers.

Kia Motors cooperated with local governments and organizations to utilize their career information network. Local companies also joined the job fairs, alongside the 325 participating business partners, offering more opportunities for local candidates.

At the event, Hyundai operated a booth for internship opportunities and education programs, which helped young job seekers gain experience in their prospective careers. The group’s business partners hired 16,000 people in 2012, 17,000 in 2013 and 2014, and 18,000 in 2015 and 2016. In total they offered jobs to 86,000 people, expanding the job market in the domestic auto industry.


BY KIM KYU-EUN [kim.kyueun@joongang.co.kr]