Hyundai Engineering said on the 6th that it will push ahead with a project called the "industry safety and quality focused support collaborative mutual aid" with the Korea SMEs and Startups Agency (KOSME) to support long-term service by safety and quality personnel at partner companies.
The project will provide about 2.52 billion won over three years for 250 workers employed by partner companies with strong safety and quality performance. It will be operated with 200 participants in the Tomorrow Filling Mutual Aid and 50 in the Preferred Savings Mutual Aid.
Workers dedicated to safety and quality duties are eligible for the Tomorrow Filling Mutual Aid, and those who hold those duties concurrently are eligible for the Preferred Savings Mutual Aid.
If a Tomorrow Filling Mutual Aid participant saves 1 million won per month for three years, totaling 36 million won, the participant can receive 158.4 million won and compound interest at maturity by adding 36 million won in government support and 86.4 million won from Hyundai Engineering.
If a Preferred Savings Mutual Aid participant saves 36 million won over the same period, the government and Hyundai Engineering will each provide 7.2 million won, and the participant will receive 50.4 million won and compound interest at maturity.
Hyundai Engineering is responsible for supporting partner company contributions, recruiting and selecting participating corporations, and funding the win-win cooperation fund. The Korea SMEs and Startups Agency (KOSME) will jointly support partner company contributions, review eligibility, and handle mutual aid management and payments.
A Hyundai Engineering official said, "This project is meaningful as the construction industry's first safety and quality specialized win-win cooperative mutual aid project linked to government support," and added, "We expect the project will provide real help in securing outstanding talent at partner companies and encouraging long-term service, leading to enhanced on-site safety and quality competitiveness."