We are currently living in an era where more emphasis is paid to the value of ‘together’. Cooperation between conglomerates and small/mid-sized enterprises has also become important in economic activities as well. On March 16, we met with win-win growth managers and representatives of partner companies to hear about Hyosung’s win-win management including the ‘Power & Industrial Systems PG Win-win Growth Partner Meeting’.
‘Relationship’ and ‘communication’ to ensure quality competitiveness
Since 2011, Hyosung has been making various efforts for coexistence and win-win growth by signing agreements with partners. Under the philosophy that ‘competitiveness of partners leads to the broader competitiveness of Hyosung,’ the company listened attentively to the difficulties faced by partners, and willingly provided support in all aspects such as technology, system, market and finances.
The ‘Power & Industrial Systems PG Win-win Growth Partner Meeting’ that was held for two days on March 15 and 16 was to strengthen partnerships with partners and share ideas about how to make improvements in pursuit of win-win growth. “Amid times with such a tough business environment, the most important thing is to mutually cooperate in order to overcome the crisis, through putting greater emphasis on aspects such as ‘relationships’ and ‘communication’,” said Senior Vice President of Purchasing, Kim Seok-ki. “The only way to win against the competition with Chinese products in the global market is quality. To this end, cooperation with partners is more important than anything. I hope 2018 proves to be a year in which Hyosung can achieve win-win growth with partners.”
Everyone must make efforts for win-win growth
Hyosung discussed ethical purchasing, coexistence purchasing and quality purchasing policies to maintain our status as a global company. The Changwon Plant will dedicate its utmost attention to determining the status of defects and making improvements by pursuing a state of ‘zero defects’ this year as well, and is supporting activities to eliminate factors that may lead to defects.
In addition, Hyosung is also carrying out various activities based on the ‘common destiny spirit’ to emphasize win-win management. We are actively participating in exhibitions with small and mid-sized partners in Korea that have relatively less chance to exhibit their products, in addition to undertaking volunteer work for the community. In October 2017, Hyosung built the biggest booth in history with 18 partners at the world’s biggest textile fair, Intertextile Shanghai 2017, and supported joint marketing.
“We will strive for win-win growth in unison”
(From the left) Changwon Plant Management Division Purchasing Support Team Deputy Department Head Son Yeong-jun, Win-win Growth Promotion Team Deputy Department Head Moon Chang-soo, Shinhwan Special Steel Department Head Lee Won-il
Hyosung obtained the highest grade for the 2016 Win-win Growth Index announced by the Korea Commission for Corporate Partnership under the Ministry of SMEs and Startups. Deputy Department Head Moon Chang-soo, in charge of internal and external communication related to win-win growth and response to win-win growth index evaluation, won the Hyosung Employee Award last year for his contributions.
Moon is communicating with outside agencies related to win-win growth such as government departments like the Ministry of Trade, Industry and Energy, Ministry of SMEs and Startups, and Fair Trade Commission, as well as in-house PG purchasing departments and partners so that win-win growth activities operate smoothly. He emphasizes that mutual understanding with partners based on communication is the most vital thing in the process.
“We visit 30-50 partners every year to meet their representatives and deliver our company’s directives realizing for win-win growth. We also listen carefully to their difficulties and requests, and try to reflect them as much as possible. We also attend partner meetings held by the PG to increase opportunities for communication. We were able to obtain the highest grade at the 2016 Win-win Growth Index because we actively responded to the survey conducted on partners. Win-win growth can only develop when we work hard in the field and communicate often.”
Naturally, there were some difficulties due to lack of understanding. But now there has been a change in perception so that partners are using win-win growth as an opportunity for development. Hyosung also knows how crucial win-win growth is and thus is working feverishly to achieve it. Moon particularly feels most rewarded by this change.
“I sensed that if we agree with each other through proper communication, the results are sure to be spectacular. Win-win growth is not some grand and splendid activity one pursues, but all activities based on communication. We will build a better future to bring a high level of happiness to all, with the attitude that our partners and us are in the same boat.”
Moon pledged to put forth efforts for Hyosung to become a leader in win-win management. Hyosung will be able to produce excellent results in win-win growth thanks to Moon who carries out his responsibility to the fullest.
Written by | Han Yul
Photographed by | Jeon Moon-sik (Day40 Studio)