Hyundai Motor plans closer relationship with suppliersHyundai Motor Group said yesterday its executives will visit first- or second-tier suppliers to listen to their difficulties and find solutions for shared growth.
Hyundai said a total of 10 affiliates will join the program. Starting from today until Dec. 18, executives from affiliates will visit 10 suppliers per month for a total of 80 visits in 2013.
Hyundai said that in order to boost shared growth in the automobile industry, it is crucial to secure quality suppliers. Since 2010, its executives have visited suppliers as a regular annual event, and they have visited more than 100 suppliers as of last year.
Hyundai opened a shared growth fund earlier this year for its second-tier suppliers and established a more organized system to manage suppliers.