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SsangYong wins prize in Employee Stock Ownership Award
2006-12-20
SsangYong Engineering & Construction was awarded a runner-up award in the Employee Stock Ownership Award, presented by the Ministry of Labor at the aT Center in Yangjae-dong, Seocho-gu in Seoul on December 20, 2006.
The awards ceremony was attended by Labor Minister Lee Sang-Soo, Senior Vice President Kim Sung-Soo of SsangYong and Lee Won-Hyuk, the chief of the employee stock ownership cooperative at the Company. The ceremony started with a congratulatory speech, which was followed by the awarding of the Labor Culture Award, the Employment Stock Ownership Award, and the Labor-Management Cooperation Award.
The Employment Stock Ownership Award has been introduced this year to present a model of labor-management cooperation in workplaces, and bolster the employment stock ownership system, by discovering and promoting companies which enhanced labor-management partnership, and contributed to productivity improvement.
The winners of the award are recognized as model companies in labor relations by the government for three years. They are also entitled to special interest rates when negotiating loans from the Korea Securities Finance Corporation.