Hyundai Heavy Industries was selected as the recipient of the grand prize of Labor-Management Culture 2009. HHI reconfirmed its position as an exemplary employer in terms of labor management culture by winning the 2009 Labor-Management Culture Award co-hosted by the Ministry of Labor and the Korea Labor Foundation.

On September 28, the Ministry of Labor announced winners of the prize after thoroughly evaluating all 61 eligible corporations in cooperation with the judging panel consisting of experts from various circles such as academia, labor and the media.

Between 1987 and 1999, HHI was infamous for its labor disputes every year since its labor union’s establishment. In the evaluation, HHI’s 15 years of dispute-free partnership between labor and management was recognized.

Especially, HHI labor union’s disciplined responses to management, efforts to improve the quality of life of its employees and to pursue employment security, were highly praised.

Moreover, HHI’s outstanding sales performance of 20 trillion won in 2008 and its continuing competitive edge in the global heavy industries field were also favorably received.

In March this year, labor union showed determination to cooperate with management by agreeing to freeze wage increases in 2009 in an effort to weather the economic crisis. The company responded in kind by distributing treasury shares to its employees in return for their commitment to mutual trust. Now, HHI is serving as a role model for harmonious labor management relations.