Daewoong Pharmaceutical, selected as a distinguished company of favorable labor-management relations

‘Win-win labor-management relations’ by making a company which encourages enthusiasm for work with its focus on employee - Growing as a global health care group by unlimited cooperation between the labor and the management based on trust and collaboration.

Only Daewoong pharmaceutical (CEO: Jong-wook Lee) has been selected as the ‘2007 Best Practice Company in Labor-management Relations’ out of all the firms in the field of pharmaceutical industry.

The designation system of the best practice company in labor-management relations has been implemented by the government annually since 1996 in order to enhance the competitive edge of companies and create a cooperative atmosphere in the workplace by supporting and discovering companies that are striving to make win-win labor-management relations a reality. The selected company receives financial, administrative and other benefits with the reputation of the best practice company

“We have put every ounce of our energy to offer fair and reasonable compensation to the employees for the achievement they have made and to help employees’ self-development through their work with the principle of giving the top priority to employees’ growth.” Especially, we have made an effort to make employees feel pride and connected to the company through the sense of achievement by working together. Naturally, the ‘win-win labor-management relations’ got settled down in the company’s culture”, said Jong-wook Lee, the CEO of Daewoong Pharmaceutical Co., Ltd. He also added, “Daewoong will become a global health care company through unrestricted cooperation based on the trust and cooperation between the labor and the management by taking this opportunity.”

The leading pharmaceutical company has created an environment where employees are able to seek self-development through a program of upbringing talented employees, four-day workweek, book- reading day and internal competition system. It has supported employees institutionally to ascertain the balance between work and living through weekend programs, health stairs and fitness facilities in the company. Moreover, the company has tried to build up family-friendly culture through flexible working hour system and nursing support and it pursued an open management through company innovation movement initiated by employees and production management committee.

Since 1973 when Daewoong Pharmaceutical began the employee stock ownership association, it has taken the initiative of win-win labor-management relations in pharmaceutical industry through such achievements as ▶ being selected as the successful company in industrial relations in 1983, ▶ being awarded the Order of Industrial Service Merit Iron Tower in 1987 for the first time among companies in the field of the pharmaceutical industry, ▶ initiating the movement of voluntary return of bonuses, vacation pay and working one more hour a day in 1997 during Asian Financial Crisis and ▶ being selected as a family-friendly company in 2006