A special attention is being paid to Hyundai E&C labor and management’s pledge to join hands with each other and create winwin effects to overcome crisis as the recession is getting deeper in the construction market. A preliminary meeting for this year’s wage negotiations between labor and management was held in the conference room on the 15th floor of the main building on June 20, with Hyundai E&C CEO Jung Soo-hyun, union leader Lim Dong-jin and bargaining agents in attendance. This is the first wage negotiation since Korea’s primary builder became a family member of Hyundai Motor Group in April. Hyundai E&C labor union announced that day that its decision right to wage increases and collective bargaining would be delegated to the management. The labor union decided to entrust the management with full powers concerning wage negotiations without a struggle, which marks the first time since the establishment of Hyundai E&C labor union and also sets an unprecedented example for labormanagement relations in the industry. Against the backdrop, the labor union’s decision draws considerable attention as a good example of win-win and harmonious relations between both sides. It has been reported that with the concern about construction economic downturn and market slowdown heightening, the labor union determined to entrust the management with its full authority in an aim to help the company stabilize operations and achieve business goals.