The National Productivity Awards are run by the Korean government and executed by the Korean Productivity Center. They recognize companies and organizations that have achieved exemplary productivity.
Volvo Construction Equipment Korea was awarded the ‘Presidential Prize’, the highest accolade in the ceremony. Volvo was praised for its efficient global production methods, innovative technology and skilled employees, which all worked together to raise productivity levels at its plant in Changwon, Korea. Volvo also received credit for contribution to the Korean economy by employing up to 18,000 employees, including 180 subcontractors.
Volvo Construction Equipment established its Korean presence in 1998, when it took over the construction equipment arm of Samsung Heavy Industry. Since then, Volvo has increased its exports from 20% to 80%.