190 Businesspeople Receive Government Awards and Ministerial Commendations
[Asia Economy Reporter Moon Chaeseok] Lee Dong-chae, CEO of EcoPro, Lee Sang-won, CEO of Sang-A Frontec, and Geum Chun-soo, Vice Chairman of Hanwha, received the Gold Tower Order of Industrial Service Merit in celebration of Commerce and Industry Day.
On the 18th, the Ministry of Trade, Industry and Energy and the Korea Chamber of Commerce and Industry announced that they would commemorate the '47th Commerce and Industry Day' from 2 p.m. at the Korea Chamber of Commerce and Industry building in Jung-gu, Seoul.
Due to the impact of the novel coronavirus disease (COVID-19), instead of holding a ceremony, a presentation event for awardees of orders and medals will be held. Minister Sung Yun-mo will personally present awards to 18 recipients.
Government awards, Minister of Trade, Industry and Energy commendations, and Korea Chamber of Commerce and Industry chairman awards will be given to 190 businesspeople who contributed to national economic development.
CEO Lee Dong-chae was selected as a recipient of the Gold Tower Order of Industrial Service Merit for fostering the national strategic materials industry through air pollution control and cathode material business. He localized equipment and improved the environment.
CEO Lee Sang-won received the Gold Tower Order for growing his company into Korea's largest fluororesin firm through technological innovation and achieving import substitution. This was recognized for enhancing national competitiveness.
Vice Chairman Geum expanded Hanwha's major businesses such as aerospace parts, defense, and chemicals into the global market and strengthened business competitiveness, contributing to national economic development, for which he received the order. He also devoted efforts to the solar power business.
This year, many entrepreneurs who made bold investments and achieved excellent results in new growth sectors such as materials and components industry, secondary batteries, renewable energy, and manufacturing innovation received awards. Small and medium-sized enterprises accounted for 72% of government awards (national commendations or higher).
Additionally, 22 overseas businesspeople including Kim Ki-wan, head of LG Electronics India branch, and Woo Young-mae, CEO of New Huacheng International Travel Agency (China), a foreign businessperson residing in Korea, were also named among the awardees.
Minister Sung encouraged in his speech, "Recently, due to COVID-19, public concerns have increased and companies are facing many difficulties. The government recognizes this as a more serious crisis than ever and plans to resolve difficulties on behalf of companies and citizens by preparing for the worst-case scenario."
He quoted Albert Einstein's words, "In the middle of difficulty lies opportunity," encouraging businesspeople to demonstrate 'entrepreneurial spirit' to overcome the crisis and create new opportunities.
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