Hanon Systems Hosts Partners Day Event to Promote Collaborative “Win-Win” Engagement with Suppliers

Event focuses on enhancing competitiveness through joint development of innovative technology and mutual growth

Promotes protection of technical information, and rights and interests of partners

SEOUL, South Korea, March 7, 2019 – Global automotive supplier Hanon Systems (KS: 018880) hosted its annual Partners Day event on March 6 in Seoul with representatives from 90 partner companies. The event involves information-sharing and engagement with supplier partners to ensure fair trade among companies and to promote a collaborative “win-win” approach to deliver shareholder value. 

This year’s event also highlighted the work by subcommittees, which is composed of members from Hanon Systems as well as various supplier partners focused on a specific topic. The session Coexistence and Innovation was honored for its outstanding efforts, as well as the team focused on training courses for candidates of next-generation executives and officers to strengthen the competitiveness of the supply base. The courses also focus on bolstering future partnerships, and strengthening the transparency and communication between companies with a focus on technical strategies and know-how, similar to what Hanon Systems offers its employees. 

With a focus on collaboration and information sharing, event participants also had a chance to hear about trends and challenges in the automotive industry, and ways companies are addressing such challenges through operational improvement plans. 

“As a leading global automotive supplier, our business partners play a critical role in the competitiveness and overall success of Hanon Systems,” said Min Sung, chief operating officer of Hanon Systems. “We are determined to maintain a high priority on this ‘win-win’ approach by actively listening to supplier inputs, and collaborating to create value that will result in mutual growth for all parties.” 

Since the company’s foundation in 1986, Hanon Systems has grown into a leading global automotive solutions company. A key contributor to the company’s success has been the implementation of programs with supplier partners that include technical, financial, management and training programs. The company aims to continue this approach to develop core talents, improve manufacturing competitiveness and construct a win-win growth system with suppliers that will deliver sustainable growth.

Core to a supplier’s ability to deliver value to Hanon Systems surrounds manufacturing efficiency and cost competitiveness. Hanon Systems currently provides oversight and counsel to certain suppliers in need of support. Company experts in the areas of continuous improvement programs and lean manufacturing work with suppliers in need to help identify process- and productivity-related improvement actions. In addition, the company supports supplier efforts in developing mid- to long-term R&D strategies, and shares its own technology roadmaps and new product development plans, and encourages joint development of new technologies based on insights into industry trends. 

The company’s partnership programs with suppliers have grown over the years to strengthen the collaboration and level of support Hanon Systems provides to its business partners. In some cases, direct capital assistance has been made available to help suppliers suffering from financial shortfalls. The company currently operates various programs designed to offer early capital funding, which is in addition to 2.5 billion KRW to support the “win-win” growth fund. Other projects include a focus on protecting technical information that helps suppliers establish a system, as well as to encourage and promote fair and transparent collaboration across the Hanon Systems global supply base.