HYUNDAI WIA establishes mutual growth culture by expanding partner support.
On March 18, HYUNDAI WIA held ‘Partnership Day’ in Hwaseong, Gyeonggi Province, and announced to provide extended support to partners. HYUNDAI WIA aims to lay a ‘mutual growth’ culture within the company. Partnership Day was organized to share management philosophy and mutual development plans with 120 key partners. Due to COVID-19, the event was in a hybrid form of combining online and in-person activities.
HYUNDAI WIA has set a goal to ‘move beyond crisis with mutual growth management’ and will drastically reinforce partnership support programs. COVID-19 underlines the need for strong global and local partnerships to overcome ‘supply chain collapse’ and ‘inflation concern’ and build a future growth engine. Hence, HYUNDAI WIA will help partners keep pace with new businesses in ‘integrated thermal management solution’, ‘e-TVTC’, and ‘smart manufacturing solution’. Codeveloping new technologies and distributing earnings from suggested ideas through a ‘benefit sharing program’ will encourage partners to give preemptive suggestions for new technologies.
HYUNDAI WIA will come together around the shared goal of beating raw and subsidiary material run-out risk. Before the outbreak of the supply shortage situation, companies will work together by promptly exchanging related information. Also, the company will cooperate with partners to check and secure raw and subsidiary material supply systems in advance. Localization of raw and subsidiary materials and the part unit will prevent production shortfall amid a global supply chain crisis.
HYUNDAI WIA will also continue to run partner programs for mutual growth. Firstly, KRW 68 billion mutual growth fund is given to partners undergoing financial difficulty. KRW 170 billion will be invested in technology development and protection. Furthermore, the job fair will be opened to help recruit talented personnel. HYUNDAI WIA will also provide around 400 technical training curriculums for partner staff members through Hyundai Motor Group's Global Partnership Center (GPC)’.
HYUNDAI WIA plans to persist in laying a sustainable growth foundation with its partners. “To confront the post-pandemic world, promoting mutual growth with partners is one of the principal challenges.” “To overcome a crisis and gain a competitive edge in the future mobility industry, we will strive to work with all the partners”, said an official of HYUNDAI WIA.