The nation’s first maker of stainless cold-rolled steel plates
Hyundai BNG Steel dates back to 1966 when Samyang Special Steel Co., Ltd., started to produce 30,000 tons of stainless cold-rolled steel plates a year. Samyang took over Korea Special Steel Co. from Sammi Specialty Steel in 1974. One year later, Samyang and Korea Special Steel merged into KISCO, which was incorporated into the Hyundai Motor Group in 2002 with the new name of BNG Steel.
The manufacturer is preparing another take-off to be reborn to match the status of the business group’s global position, after being renamed in 2011.
Hyundai BNG Steel, which has sought diverse products of high quality by continuously investing in facilities and technology development, was the first to develop bright annealing (BA) products and embossed plates in Korea. It built a plant of a rolling mill capable of producing plates that are 0.01mm thick and of a sheet rolling mill producing ultra-thin BA plates of 0.03 mm in thickness in 2010. These experiences have made it possible for Hyundai to possess all necessary production skills ranging from precision electronic parts to industrial facilities.
“Prosperity with clients, bright future with the company”
Hyundai BNG Steel has set up its vision of “happiness with clients, future with the company” with an aim of sustainable management through maximized value for clients and environment-friendly “green management.” Hyundai has been making double efforts to be reborn as environment-friendly business, achieving harmony among human beings, technology and nature.
Such vision has well been reflected in the name of the corporation BNG of Hyundai BNG Steel, “Belief & Growth,” containing its determination to grow based on clients’ trust.
With the aim of stabilized quality and efficient management, Hyundai BNG Steel advanced the enterprise resource planning (ERP) system, an integration of internal and external management information across an entire organization in 2011. Hyundai has been making every effort to achieve a 50 percent growth in both turnover and profits by 2016, the 50th founding anniversary, with the campaign slogan of “Renovation & Takeoff 5050.”
Growth base on cooperative advanced labor-management relations
Hyundai BNG, which introduced three levels of workers in 2007, reclassified them into five _ part manager (PM), expert (EP), specialist (SP), technician (TE) and rookie workers — to enhance the treatment of experts and skilled workers.
Besides these, the company has provided a variety of welfare benefits, probably the highest level in the industry, to employees to instill pride in them and encourage them to remain committed. The welfare benefits include financial support to those moving to houses offered by the company, full scholarship for up to three children of workers, and financial support for automobile and medical services. In particular, some 30 model workers selected every year are given opportunities to tour foreign steel makers in China, Japan and other countries.
Such corporate efforts have resulted in an advanced labor-management culture of no labor strikes for the past 11 years. Hyundai has become a model of other corporations, as it was selected as one of the best companies in labor-management culture in 2010, following a same recognition in 2006.
Friendly with regional residents
Hyundai BNG Steel marks its 36th anniversary since it opened a general specialty steel plant in Changwon, in 1975. It also moved its main office to Changwon from Seoul in 2001.
Hyundai workers have great affection for Changwon, the capital of South Gyeongsang Province.
Currently, six volunteer corps are active, including in-house and family volunteer groups. The volunteers have continued to contribute to the regional society, offering a variety of services, such as home repairs for one senior citizens living alone and low-income households, provision of daily necessities to bread earning children and needy households, distribution of coal briquettes and rice to needy households. As a result, Hyudai has been recognized as a model contributor to the regional community in Changwon.