Hyundai 2001 Annual Report Download - page 28

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Chung Mong-Koo heads the 2010 World Expo
organizing committee which is bidding to bring
this global event to Yosu, a major city of South
Cholla Province. Improving the quality of
cultural and social life that unites us as human
beings is something that will always be a matter
of keen interest to Hyundai Motor.
EMPLOYEE WELFARE
It goes without saying that our human
resources are our most valuable asset and at
Hyundai, we cultivate talent with a steadily
expanding range of training, education and
welfare programs so that everyone within the
Hyundai family feels rewarded and fulfilled. In
Korea, our domestic employees enjoy a variety
of unique fringe benefits such as company-
paid travel to visit their hometowns on national
holidays and financial assistance for child
education, household moves and for the
purchase and maintenance of automobile.
In addition, the company offers additional
financial assistance towards retirement
pension plans and covers medical bills. Such a
carefully considered and well-designed
employee welfare system has played a big
part in maintaining a productive and mutually
respectful labor-management relationship.
Hyundai is adopting a systematic global
approach to the management of its human
resources in order to raise the quality of its
employees’ lives so that they feel well
rewarded and proud to be members of the
Hyundai family.
Because the company’s success hinges
on the skills and performance of our
employees, we not only offer job and skills
training programs but also fund overseas
education programs for our employees
including the opportunity to pursue post-
graduate studies at company expense. These
programs stimulate innovation and raise
creativity to a globally competitive level as well
as enhance individual and teamwork
capabilities.
In addition, the company operates a
variety of in-house education programs where
prominent college professors are invited as
guest lecturers on a wide range of topics which
help employees earn education credits that
improve their work and inter-personal
communication skills. The company operates
and funds cultural centers and summer
vacation facilities in an effort to support a
broad range of leisure activities for the benefit
of its employees and their families. Employees
can take advantage of a number of housing
assistance programs including company
subsidized dormitories and low interest home
financing which significantly improve
motivation and job performance as a result.
The company will do its best to continue to
improve its employee welfare system so that
all 50,000 workers can devote heart and soul
to their jobs and feel proud and
rewarded in their careers with Hyundai.
27
2001 Annual ReportHyundai Motor Company