▲Hwang Jang-seon, CEO of Power Automation (left), is taking a commemorative photo with Shin Sung-sik, Head of the Chungnam Regional Small and Medium Venture Business Administration, after the selection ceremony as a 'Kibo-Star Valley Company' by the Korea Technology Finance Corporation under the Ministry of SMEs and Startups.
[Asia Economy Reporter Kwon Jae-hee] Power Automation announced on the 26th that it was selected as a 'Kibo-Star Valley Company' by the Korea Technology Finance Corporation under the Ministry of SMEs and Startups and held an award ceremony.
The 'Kibo-Star Valley Company' program is designed by the Korea Technology Finance Corporation to identify and support excellent technology companies with high future growth potential from the early stages, nurturing them into companies that provide good jobs.
The system selects venture or Inno-Biz companies within 12 years of establishment, or innovative growth industry companies with a technology evaluation grade of B or higher and a growth grade of G6 or higher, providing phased support linked to business performance up to 5 billion KRW. It was created to select and nurture Korean-style hidden champions with global competitiveness.
Power Automation, a company that develops and supplies insertion robot equipment for detachable parts essential for unmanned processes in smart factories, was recognized for its technological capabilities and future growth potential in the related industry and was selected as a 'Kibo-Star Valley Company' by the Korea Technology Finance Corporation.
Hwang Jang-seon, CEO of Power Automation, stated, "The insertion robot equipment for detachable parts that we developed and supplied has been successfully applied to the unmanned processes of mass production lines in domestic large corporations and is expanding its application to overseas mass production factories of domestic large corporations, currently exporting over 3 million USD overseas in the first half of 2022."
He added, "Based on our competitiveness in automated solutions for insertion and detachable parts, Power Automation will grow as a leading company in the automation of manufacturing processes in the important fields of smart factories and reshoring in manufacturing."
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