Korea Federation of SMEs and Home&Shopping Hold 'This Year's HIT SME Product Awards Ceremony'

Commendations for Outstanding SMEs and Local Governments... 139 Companies Launched This Year, Total Cumulative Sales of 14.7 Billion KRW

[Asia Economy Reporter Kim Cheol-hyun] The Korea Federation of Small and Medium Business (Chairman Kim Ki-moon) announced that it held the 'HIT Small and Medium Enterprise Product of the Year Awards Ceremony' on the 22nd at the Korea Federation of Small and Medium Business in Yeouido, jointly with Home&Shopping (CEO Kim Ok-chan).

Since 2012, the Korea Federation of Small and Medium Business and Home&Shopping have been discovering excellent small and medium enterprises annually and supporting their entry into TV home shopping broadcasts. As of the end of October this year, 139 companies have achieved a total cumulative sales amount of 14.7 billion KRW through the support program.

This awards ceremony was held to encourage outstanding small and medium enterprises that have grown through the support program this year and local governments that have worked to expand sales channels for SMEs located in their regions. In the excellent SME category, ▲Pure Lab CEO Park Han-young ▲K&C Food CEO Kim Yong-tae ▲JS Korea CEO Go Jang-seok received the Chairman’s Commendation from the Korea Federation of Small and Medium Business. ▲Ariul Market CEO Yoon Hyun-sik ▲Kang Soonui Myeongga CEO Lee Jeom-hee ▲Andong Matjaban CEO Kim Seong-nyeon received the CEO’s Commendation from Home&Shopping.

The company that achieved the highest cumulative sales among broadcasters this year was Ariul Market, which recorded sales of 2.4 billion KRW through Home&Shopping broadcasts alone with its 'Non-hardening Rice Cake' item, accounting for 80% of the company’s total sales last year (approximately 3 billion KRW).

In the excellent local government category, Gyeonggi Province received the Chairman’s Commendation from the Korea Federation of Small and Medium Business. Since 2012, Gyeonggi Province has consistently participated in this project and launched a total of 23 companies this year, which was highly evaluated as it supported significantly more SMEs compared to the average of other local governments (7.2 companies).

Kim Ki-moon, Chairman of the Korea Federation of Small and Medium Business, said, "As non-face-to-face and untact consumption have become daily life due to COVID-19, sales channels through TV home shopping are gaining more attention for SMEs," adding, "the Federation will continue to support SMEs struggling to develop sales channels so that they can create more success stories through TV home shopping."

Kim Ok-chan, CEO of Home&Shopping, also said, "Since 2012, we have launched over 860 SME products through the support program, which is recognized as a model case for private sector SME sales channel support," adding, "we will strive to lower the entry barriers for SMEs into TV home shopping by expanding support programs and diversifying distribution channels such as mobile live broadcasts."