쌍용건설

- The Labor Union Operation Committee made a courageous decision in the first year after graduation from the workout process.
- The decision was made in consideration of the ongoing recession and in return for the trust in it by the management. Thus, the management can devote itself to business operation.
- The management resolves to show its appreciation through outstanding management results.

On May 18, Ssangyong Engineering & Construction’s labor union said that it entrusted all decisions concerning this year’s wage negotiations to the management in the first year after the graduation of the workout procedure.

Labor union representative Yoo Jin-tae said, “We made such a decision out of a desire for the management to pour all-out efforts into business operations amid the drawn-out recession and in return for the management’s faithfulness in keeping promises made with us despite various difficulties.” The management, on its part, expressed appreciation for the labor union’s cooperative gesture and said it would show its appreciation through outstanding management results.

Ssangyong Engineering & Construction (President: Kim Suk-jun) graduated from the 5-year and 8-month workout procedure last October through intensive restructuring and wage reduction, and in 2004 it posted 1,222.4 billion won in sales, 58.7 billion won in ordinary profit. In 2005, it plans to win 1,515 billion won worth of orders, post 1,159.8 billion won in sales and 55.8 billion in ordinary profit.