Hyundai Motor Vice President Lee Gyuseok Awarded Silver Tower Industrial Medal for Win-Win Growth Contributions

2023 Dongbansangjang Week Commemoration Ceremony Held

The Ministry of SMEs and Startups (Minister Lee Young) announced that it held the '2023 Win-Win Growth Week Commemoration Ceremony' on the 29th at the S-Plex Center in Seoul in collaboration with the Win-Win Growth Committee (Chairman Oh Young-gyo). The Win-Win Growth Week Commemoration Ceremony is an event jointly organized by the government and the private sector to promote win-win growth between large and small and medium-sized enterprises (SMEs) and to enhance public understanding and interest in mutual cooperation.

This event, marking its 20th anniversary, was held under the theme "20 Years of Win-Win Growth, A Korea Growing Together," and awards (a total of 87) were presented to individuals who contributed to win-win growth. Lee Gyu-seok, Vice President of Hyundai Motor Company, received the Silver Tower Order of Industrial Service Merit; Kim Byung-soo, LG Electronics official, received the Bronze Tower Order of Industrial Service Merit; and Oh Hyun-sik, Vice President of CJ CheilJedang, was awarded the Industrial Service Merit.

Lee Gyuseok, Vice President of Hyundai Motor Company

Lee Gyu-seok, Vice President of Hyundai Motor Company, was recognized for actively leading the operation of the delivery price linkage system, which helped reduce the burden of raw material price increases for small and medium-sized partner companies. In addition, he contributed to stabilizing the management of partner companies through programs for future vehicle transition, cash liquidity support, and competitiveness enhancement. Kim Byung-soo of LG Electronics, who received the Bronze Tower Order of Industrial Service Merit, was acknowledged for his contributions to alleviating financial burdens on small and medium-sized partner companies by early adoption of the delivery price linkage system and promoting the activation of win-win payment systems.

Oh Hyun-sik, Vice President of CJ CheilJedang, who received the Industrial Service Merit, actively participated in the delivery price linkage system and contributed to securing cash liquidity through financial support such as the win-win fund for partner companies. The Presidential Citation was awarded to individuals including Lee Jung-yoon, Executive Director of Korea Seven, Choi Nam-soo, Head of LG Household & Health Care, and Kim Hyun-tae, Executive Director of Hyundai Transys. In the group category, Korea Hydro & Nuclear Power, Korea Agricultural Technology Promotion Agency, Lotte Shopping E-commerce Business Division, and E-Land World were recognized.

Minister Lee Young emphasized in his encouragement speech, "Now, SMEs have emerged as the center of the economy, accounting for nearly 50% of Korea's total exports and total sales," and added, "in their relationship with large corporations, they have become economic actors leading innovation in the corporate ecosystem beyond merely being simple parts suppliers." He continued, "The Ministry of SMEs and Startups will implement new win-win growth policies that enable large and small enterprises to form a one-team partnership as equal economic actors and grow together."

Chairman Oh Young-gyo of the Win-Win Growth Committee stated, "Autonomous win-win growth activities in the private sector serve as a solid foundation for resolving conflicts between companies and advancing Korea's economy," and added, "we will continue to work with local governments to spread the culture of win-win growth nationwide by carrying out various win-win growth projects and activities tailored to regional characteristics, thereby promoting the regional expansion of the win-win growth culture."