NEWS

On May 31, HD Hyundai XiteSolution, HD Hyundai Construction Equipment, and HD Hyundai Infracore were bestowed the Minister’s Award in recognition as excellent companies in the supply price linkage system at the ‘Impetus for Widespread Acceptance Contest’ held by the Ministry of SMEs and Startups at the POSCO Center in Seoul.

The ‘Impetus for Widespread Acceptance Contest’ is an event held by the Ministry of SMEs and Startups to drive and facilitate the widespread acceptance of the supply price linkage system. Following ‘season one’, which successfully legislated the supply price linkage system, it is poised to embark on ‘season two’, which establishes the linkage system as a single transaction practice.

The day’s event consisted of the first session, the Widespread Acceptance Task Force (TF) meeting, and the second session, the main event of the contest at hand.

In attendance at the event were not only SME-related organizations such as the Korea Federation of SMEs, but also large and medium-sized business-related economic organizations, such as the Korea Enterprises Federation, the Korea Chamber of Commerce and Industry, the Federation of Korean Industries, and the Korea Federation of SMEs, and from the three HD Hyundai Construction Equipment affiliates, in attendance were Purchase Planning Team Senior Manager Baek Jong-woo of HD Hyundai XiteSolution, Purchasing Department Head Yang Gyeong-shin of HD Hyundai Construction Equipment, and Purchasing Department Head Kim Gwang-bo of HD Hyundai Infracore.

The three HD Hyundai Construction Equipment affiliates won the Minister’s Award for their exceptional performance in stably establishing the supply price linkage system during the pilot operation of the supply price linkage system and expanding its application wider. In particular, HD Hyundai Infracore scored high marks for signing a linkage agreement with 119 business partners.

Currently, there are 621 companies participating in the supply price linkage system. The Ministry of SMEs and Startups has set a goal of 6,000 companies participating, which is 10-fold more than the existing figure. The revised enforcement ordinance for the supply price linkage system is scheduled to be legislated in early June, and will take full effect from October 4 after being proclaimed in September.