Ilhwa Co., Ltd. designated an outstanding company for labor and management relations in 2013

▲Photo of all staff at Ilhwa Co., Ltd. who took part in the Seoul Citizens Marathon for Cancer Support for Children on May 5th 2013

Ilhwa Co., Ltd. has received high reviews for its various

welfare policies and hands-on management.

On June 27^th, it was announced that Ilhwa Co., Ltd. (CEO Lee Seong-gyun) was selected by the Ministry of Employment and Labor as an ‘outstanding company for labor and management relations in 2013.’

Outstanding companies for labor and management relations have been selected and presented by the Ministry of Employment and Labor since 1996 to spread an outstanding culture of labor and relations and to boost national competitiveness. This year, a total of 65 companies have been selected, including Ilhwa Co., Ltd., from among 12 public institutions, 22 large companies and 31 SMEs.

After getting out of court receivership in 2005 Ilhwa Co., Ltd. grew into a steady company after both the company and workers cooperated and compromised with one another in a joint effort to reorganize the company. The company received top marks for a being a model for implementing many labor and management cooperative efforts to maintain employment through instituting transparency, participatory management and bringing former employees back from retirement in a short time, through various channels.

Furthermore, the ministry was deeply impressed with the various welfare facilities that have been secured for the workers and the company. They also created various events to promote a healthy work/life balance making efforts to boost employee quality of life and enable their employees to assume responsibility as a contributing member of an improving society.

Ilhwa Co., Ltd. CEO Lee Seong-gyun said “Ilhwa and its employees have been working hard to become one as part of efforts to become a company that pursues the health and happiness of mankind. From now on we will fulfill our mission as a trustworthy corporation upon which consumers can rely on based on our cooperative labor and management culture."