Hyundai Doosan Infracore CEO Cho Young-cheul (left) and Hanyang Precision CEO Shin Dong-kuk taking a commemorative picture after singing an MOU on mutual cooperation for ESG management consultations held on Tuesday Jan 31, at Hanyang Precision’s Kimpo factory located in the Gyeong-gi province.

Hyundai Doosan Infracore (CEO Cho Young-cheul, Oh Seung-hyun), a subsidiary of HD Hyundai’s construction equipment business sector, has started taking action to strengthen ESG competence of its partners.

Hyundai Doosan Infracore (HDI) announced Tuesday, Jan 31 that it signed a business agreement with one of its key partners, Hanyang Precision, on mutual cooperation for ESG management consultations. Hanyang Precision is a key partner of HDI which trades excavator frames, boom, buckets and other canning parts and an OEM for small sized excavators.

The signing was held while HDI CEO Cho Young-cheul, Purchasing Dept. Head Kim Gwang-bo, and Hanyang Precision CEO Shin Dong-kuk, Vice Chairman Yoo Seung-yeol, President Shin Yoo-seob and other members of both parties were attending.

HDI has been carrying forward the ‘ESG Management Support Project for Supply Chains’ led by the CEO since January, stating that it will directly engage in activities that will enhance ESG management of its partners and ultimately contribute in building a sustainable supply chain.

This MOU with Hanyang Precision is the first step of such efforts. Hanyang Precision agreed to participate in this project as they too were trying to find ways to better human resources and procedures for the EU supply chain inspection which is to be held before making investments on facilities to improve production capacity and introduction to a robot welding system.

Based on the agreement, HDI will work with the Korea Productivity Center (KPC) to provide Hanyang Precision with ▲ Online ESG management diagnosis and improvement guidelines, ▲ On/offline training courses for executives and working level employees, ▲ Site diagnosis and analysis on ESG management, consultations for improvements and more.

Hanyang Precision will be providing data required for ESG management diagnosis and site inspection cooperation, along with active participation in training courses for employees.

HDI CEO Cho Young-cheul mentioned that “While interest and requirements for better ESG management is continuing to rise, in reality, this can be a burden for small-to-mid, and middle sized enterprises,” while adding, “We will support partners to prevent any disadvantages they may experience when exporting their products.”

Meanwhile, CEO Cho Young-cheul and other executives of both parties visited the main production lines of Hanyang Precision and discussed ways to coexist while checking its facilities and security system. <EOD>