Kim Hwa-man, New Chairman, "Will Strive to Develop Domestic and Overseas Markets for Domestic Furniture Manufacturing Companies"
[Asia Economy Reporter Kim Cheol-hyun] The Korea Furniture Industry Cooperative Federation announced on the 1st that Kim Hwa-man, CEO of Geumhwa Furniture, a hotel furniture manufacturing company, was elected as the 26th president of the federation at the 58th regular general meeting.
President Kim Hwa-man won 2nd place in the furniture category at the 1971 Seoul-Gyeongin Skills Competition and has been engaged in the furniture industry for over 40 years since founding Geumhwa Furniture in 1979. He served as chairman of the Seoul-Gyeongin Furniture Industry Cooperative, vice president of the Seoul Regional Headquarters of the Korea Federation of Small and Medium Business, and currently concurrently serves as chairman of the Corporate Succession Committee of the Korea Federation of Small and Medium Business.
Among domestic furniture companies, especially small and medium enterprises, they are currently facing crises due to the spread of the novel coronavirus disease (COVID-19), the entry of imported furniture into the domestic market, the burden of overseas certification costs for domestic export companies, and rising prices of raw materials and parts. In response, President Kim stated, "We will strive to overcome the current difficulties and enable the furniture industry to grow together by developing new support projects for small and medium furniture companies and revitalizing joint projects between cooperatives and cooperative member companies."
Meanwhile, the Korea Furniture Industry Cooperative Federation was established in 1962 to promote the sound development of the furniture industry and currently has 11 local member cooperatives nationwide and 612 cooperative member companies, making it a representative furniture specialized organization. It carries out projects such as joint purchasing and sales of raw materials and parts necessary for furniture production, establishment and operation of joint furniture brands, establishment of group standards and direct production certification for small and medium enterprises, hosting domestic furniture specialized exhibitions and operating the Korean pavilion at overseas furniture specialized exhibitions, and proposing government policies to revitalize the furniture industry.
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