- First in Korea to introduce CP

- DI will be providing financial support and consultation to participating partners

- DI targets to increase the number of partners from 10 to 50 by 2011

Doosan Infracore’s Vice-Chairman, Mr. Sungchul Choe is laying the foundation for mutual growth with partner companies by introducing the Compliance Program (CP).

On 29 July 2009, Doosan Infracore (DI) unveiled its plan to introduce its CP Program to its partner companies at a ceremony held at Ramada Songdo in Yeonsu-Gu, Incheon. In attendance were Mr. Keysun Han, COO of Doosan Infracore, Mr. Hakhyeon Kim, Chief of the Competition Policy Bureau of the Fair Trade Commission, Mr. Youngseop Han, President of The Korea Fair Competition Federation and representatives of partner companies and their employees. Amongst the 10 partners that attended the declaration ceremony included Seojin Tech, Topmetal Works and Jinsung T.E.C., a company with a staff strength of 50 employees and with a reported annual turnover in sales of more than 10 billion won.

As part of this CP Program, Doosan Infracore has committed that it will be providing financial support, consultation and conducting annual training on related laws to its 10 participating partners. Doosan Infracore is also targeting to increase the number of participating partners to 50 companies by 2011. When the program is implemented, Doosan Infracore can expect to receive a stable parts supply system in place while trading fairly with both primary and secondary partners. The program is also advantageous for these partners because it can lower any possibility of these companies violating the law as they will be recognized as competent companies observing international practices when they extend their business overseas.

“To survive the fierce global competition, especially when individual companies have their own limits, it is essential to strike a win-win partnership between big companies and SMEs as well as to strengthen mutual competitiveness,” said COO Han.

He added, “With the introduction of the CP, not only will it serve as a cornerstone in achieving transparent management, both parent companies and their partners can also enjoy and reap in mutual benefits with such a partnership.”

* Compliance program: a supervisory system of a company to observe fair trade laws voluntarily. By introducing the program, individual companies can clearly understand the related laws applicable to their working practices and also to prevent possible violations of these laws.