Ministry of SMEs and Startups Seeks Prestigious Long-Established Companies Spanning Generations

Issuance of Plaques and Certificates to Small and Medium Enterprises Operating for Over 45 Years
Additional Points Awarded When Applying for SME Support Programs

The Ministry of SMEs and Startups announced on the 28th that it is recruiting prestigious long-established companies expected to achieve continuous growth across generations.

The application period is from the 29th of this month until May 31. Afterward, company evaluations and reputation verifications will be conducted until August, and the prestigious long-established companies of the year will be selected in September.

Prestigious long-established companies are small and medium-sized enterprises (SMEs) and mid-sized companies that have operated soundly for over 45 years and have made significant contributions to our society and economy. To promote a culture of respect for exemplary companies that present desirable corporate models and fulfill social responsibilities, a total of 43 companies were selected from 2017 to 2023.

Applications can be submitted directly by companies or recommended online by any member of the public. Applicants must prepare the prestigious long-established company confirmation application form, business registration certificate, and other required documents, and submit them both by email and postal mail. SMEs should submit to the Korea Federation of SMEs, and mid-sized companies to the Korea Federation of Mid-sized Enterprises by May 31.

To be selected as a prestigious long-established company, there must be no corporate tax arrears, legal violations, or social controversies. Evaluation criteria include ▲ business longevity ▲ economic and social contributions ▲ corporate capabilities and technological innovation, with a minimum score of 80 points required. In particular, for mid-sized companies, the previous exclusion criterion of transactions with mutual investment-restricted groups exceeding 10% of sales has been significantly relaxed to 70% or more.

Companies selected as prestigious long-established companies will be issued a certificate and provided with a plaque, and may use the prestigious long-established company symbol (mark) to promote their products. Additionally, they can receive benefits such as extra points when applying for Ministry of SMEs and Startups support projects related to funding and exports.