Chairman Choi Young-soo built it as a top company with ‘responsible management’, “We will do all our corporate social responsibility”
The fund scheduled to be used for constructing educational infrastructure for the School of Mechanical Engineering... Interest in fostering human resources
[July 15, 2021]
Korea’s largest industrial tool distribution company, Cretec (Chairman Choi Young-soo/Daegu Saemaul Association Chair) donated 1 billion KRW in development funds to YU (President CHOI Oe-chool).
Cretec recently donated 500 million KRW to YU in development funds and is scheduled to donate 50 million KRW a year for the next 10 years.
At 11 a.m. on the 15th, Crete Chairman Choi Young-soo who attended the development fund donation ceremony held at the YU President's Reception Room said, “As a local businessman, I am well aware of the importance of fostering local human resources.Since 50 years ago when I first started this company, our motto was responsible management. In addition to unlimited responsibility for customers, corporate social responsibility is another thing that the owner should pay attention to. As a local businessman, I will do my best in my position to develop and coexist together with the local community. I ask YU to do its best to foster human resources that will be the next leaders of Korea.”
YU President CHOI Oe-chool responded, “I feel a grave sense of responsibility as the president that manages the university because of this generous donation of development funds. There are many difficulties surrounding the university, but the support from people like Chairman Choi for our school is very encouraging.” He added, “Just as how Chairman Choi built Cretec to what it is today through ‘responsible management’, YU will also do its best to fulfill its social responsibility as champions for fostering human resources who will lead the future.”
Cretec has been continuously engaged in social contribution activities to foster future human resources such as elementary, middle and high school students by donating 100 million KRW to a local high school in Daegu recently, in addition to its donation to YU. YU plans to use the development funds donated by Chairman Choi for education and research activities and constructing educational infrastructure for the School of Mechanical Engineering.
Cretec, which was founded in 1971, is Korea’s largest industrial tool distribution company that is based in Daegu. It imports over 13,000 different items from about 1,200 brands all around the world, and distribute it to distribution companies and industrial sites in Korea. Crete is analyzed to have contributed to developing the domestic tools industry into world-class levels by categorizing and systemizing massive amounts of industrial tool product information, and constructing a scientific distribution network. It was the first in the tool industry to implement standard pricing and a bar code system, and it also offers online orders, while realizing digitalization of product information, thus making non-face-to-face business possible for industrial tools. In particular, the “Korean Industrial Tool Handbook’ that Cretec has been publishing since 1989 has been serving as an encyclopedia for tools, and it has become a standard book for tool distributors and manufacturers. Last year, Cretec was recognized for its contributions to the development of the industry, and thus received the ‘Korean Distribution Awards Presidential Medal,’ which is the highest honor in the domestic distribution sector.
