Construction Guarantee (CG) has hit the gas to conduct sales activities with relationship manager (RM) branches and Overseas Business Teams taking the initiative.
Integration of sales departments and restructuring, designed to promote cost saving and efficiency, is expected to bring about profitability in a long-term perspective.
CG has restructured sales departments. In the new format, they take the structure of a financing center, consisting of three branches and three compensation centers. The headquarters remains unchanged.
Branches in Seoul and Gyeonggi-do have been integrated into Seoul Financing Center, Gyeonggi Financing Center and Seoul Compensation Center.
Branches in Chuncheon, Yeongdong and Wonju have merged into Gangwon Financing Center.
Provincial branches were divided into Incheon Branch, Ulsan Branch, Jeju Branch, Jungbu Compensation Center and Yeongnam Compensation Center.
CG has inaugurated the Strategy Business Office, responsible for customer services and sales activities, the Business Support Team under the jurisdiction of the Strategy Business Office, and the Overseas Business Team in keeping with the restructuring of business departments.
The Overseas Business Team established a sales regime. It has been reinforced with expertise manpower. The team plans to back up member companies’ efforts to win orders from areas such as Ukraine, Turkey and the United Arab Emirates.
Currently, CG operates overseas branches in Jakarta and Dubai and offers guarantee products in conjunction of overseas construction projects, being implemented there.
CG plans to secure guarantee routes based on high international credit ratings, such as Moody’s “A2” rating, Fitch’s “A” rating and AM Best’s “A+” rating and expand contracts with 24 Korean and foreign financial institutions.
The latest restructuring comes in context of CG Chairman Park Young-bin’s aggressive sales trends. Chairman Park served as president of Kyongnam Bank.
The introducing of the new RM regime is designed to raise duty’s efficiency by touring major customer companies, departing from passive sales activities.
Earlier, Chairman Park had inaugurated the Financing Business Group to raise asset operation profit and investment profitability and hired outside experts since he took office.
A view of Construction Guarantee’s 125th regular shareholders’ session at the Construction Hall in Nonhyeon-dong, Seoul, on April 26.
CG Spearheads ‘Shared Value’ with Local Communities
Construction Guarantee has been continuously putting into practice “shared value” to provide support to those in the low-income, vulnerable brackets, buffeted by hardships, caused by an economic crisis.
CG’s emblematic social contribution activity is the “Hope Dream Project” CG has been implementing in cooperation with Korean Red Cross since 2011.
Through the initiative, CG has been sharing hope with about 40 households across the nation by improving houses of needy neighbors and offering assistance to children raised by their grandparents.
In order to expand social contribution activities, concentrated on the Seoul metropolitan area, to other regions, CG has designed county and other lower local governments with an outstanding record of volunteer activities achievements to provide support since 2017.
CG has also continued to conduct a social contribution activity related to Surong-ri, a village in Chungju City in which CG has maintained a one company-on-one village sisterhood relationship. Chungju is the city in which CG Management and Training Center is located.
CG has offered assistance by improving and opening regional children’s centers with an insufficient education environment under a deal, struck with Plan Korea in 2018 to diversify social contribution activities.
CG plans to implement shared value by designating two regional children centers this year.
Starting with 2010, CG executives and staffers began to chip in a tiny portion of their salary on a voluntary basis, to be used for conducting social contribution activities.
A staffer who has joined in the donation said, “It is meaningful to send hope and encourage to those in the vulnerable bracket of the regional society through money donated by staffers who make joint efforts.”
A CG official said, “The year 2023 is a significant year for celebrating the 60th anniversary, so we’ll do our utmost to fulfill social responsibilities of the construction industry so shared value and shared growth can make the 60th anniversary year more meaningful.”
CG Holds Visiting Session to Explain Cooperative Guarantee Products
Construction Guarantee has launched a series of outreach sessions for the first half of 2023, targeting CG members, to explain its cooperative guarantee products.
CG held a session in the first half of 2023, targeting CG members in the Seoul metropolitan area to explain its cooperative guarantee products at the Construction Hall in Nonhyeon-dong, Seoul, on May 15.
During the session, CG gave a short briefing on special strengths on guarantee products according to each construction stage.
CG explained risk management and the necessity for signing up for CG by demonstrating major compensation cases against major worksite accidents.
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