Gyeongbuk Province Selects 'Buseong TFSC' as Comprehensive Award Winner for Small and Medium Enterprises

On the 4th, Gyeongbuk Province held the ‘2023 Gyeongsangbuk-do Small and Medium Enterprise Awards’ ceremony at the Gyeongbuk Provincial Government Multipurpose Hall, selecting seven local SMEs that achieved outstanding results despite the economic crisis.

Now in its 31st year, the ‘Gyeongsangbuk-do Small and Medium Enterprise Awards’ is an award that selects and honors excellent SMEs leading the regional economy. It was first implemented nationwide in 1993 and has been jointly hosted with Maeil Shinmun since 1997, making it a prestigious and honorable award.

Gyeongbuk Provincial Government Office

After receiving recommendations from city and county governments and SME-related organizations, 22 companies applied. The applicants underwent a rigorous evaluation process including document screening, on-site assessment, and a judging committee, resulting in seven companies being selected for the ‘Gyeongsangbuk-do Small and Medium Enterprise Awards.’

The Grand Prize was awarded to Buseong TFC Co., Ltd. (Gumi-si), the Management Innovation Award to J& S Co., Ltd. (Chilgok-gun), the Technology Development Award to Neotech Co., Ltd. (Gimcheon-si), the Women’s Enterprise Award to Jungwoo High Tech Co., Ltd. (Yeongcheon-si), and Excellence Awards to Taesan Co., Ltd. (Yeongcheon-si), H Energy Co., Ltd. (Pohang-si), and DSS Co., Ltd. (Gimcheon-si).

In particular, Buseong TFC Co., Ltd., a company producing functional fibers and tire cords, manages all production processes in-house and maintains strict quality control. The company is steadily growing and making bold facility investments, including expanding its third plant, the world’s largest wet coating factory in Gumi, earning high scores in all categories and being selected for the Grand Prize.

Lee Cheol-woo, Governor of Gyeongbuk Province, said, “Despite the global economic downturn and increasing uncertainties about the future, I am always grateful to the businesspeople who steadfastly dedicate themselves to corporate management activities and serve as a strong pillar of the regional economy. I hope today’s award will be a stepping stone for greater leaps and growth, and Gyeongbuk Province will be with you on that path.”

Awarded companies will receive preferential benefits such as priority support for Gyeongsangbuk-do SME development funds (general 300 million KRW → up to 500 million KRW), discounts on SGI Seoul Guarantee insurance fees and expanded guarantee limits, a three-year exemption from local tax audits, promotional video screenings on the media wall inside the provincial government building, and various SME support programs.