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Title ‘2016 Convention for Shared Growth’ Held Date 2016-05-31





‘2016 Convention for Shared Growth’ Held


The company held the ‘Hyundai Elevator 2016 Convention for Shared Growth’ on March 4 at the Banyan Tree Seoul.

The convention drew more than 300 people including representatives of 270 partner companies in such fields as purchasing,
installation, service, and system solutions, as well as company employees.

The event highlights included the conferring of appreciation plaques and benefit-sharing
awards, and a signing ceremony for a fair trade and shared growth agreement.
In May 2013, Hyundai Elevator entered into an agreement to introduce a system for shared growth with its partner companies.
Under the agreement, Hyundai Elevator has introduced programs for financial assistance,
better payment conditions, technical support, and support for recruitment/training and productivity enhancement.

It also adopted a ‘benefit-sharing system for programs proposed by partner companies’ through which
a portion of cost reductions stemming from their voluntary efforts is refunded to them.

At the convention, the company paid about US$97,000 to three partner companies and signed long-term,

two- to three-year contracts with three vendors.