Hyundai Mipo Dockyard (HMD) and its seven shipbuilding and machinery business partners signed a Fair Trade and Mutual Growth Agreement with about 5.000 subcontractors.
Under the agreement, HMD will help subcontractors enter overseas markets and localize ship and machinery parts through a variety of methods such as a mutual growth fund, mutual raw material procurement support, and co-development of new technology. HMD introduced the Fair Trade Voluntary Observation Program in 2006. HMD was also selected as one of ‘The Best Companies for Cooperating with Partners’ in June 2010.
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Source: hmd, June 17, 2011;