Korea Minting and Security Printing Corporation Wins 'Win-Win Honors' Hosted by Ministry of SMEs and Startups... Recognized for Export Achievements

Korea Minting and Security Printing Corporation (KOMSCO) announced on the 14th that it has received the ‘2024 1st WIN-WIN HONORS’ award organized by the Ministry of SMEs and Startups.

WIN-WIN HONORS is a project initiated by the Ministry of SMEs and Startups last year to discover and spread excellent cases of growth through cooperation between large corporations and small and medium-sized enterprises (SMEs).

KOMSCO received the WIN-WIN HONORS jointly with Gwangmyeong Ink Manufacturing Co., Ltd. as a successful case of co-entry into the overseas minting market for K-special security ink.

Gwangmyeong Ink is a representative partner company of KOMSCO.

Mok Jin-kwan, Vice President of the Korea Minting and Security Printing Corporation (first from the left), is taking a commemorative photo after receiving a plaque from Kim Sang-seop, Vice Minister of the Ministry of SMEs and Startups (second from the left), at the 'Win-Win Honors Selection Ceremony' on the 13th. Photo by Korea Minting and Security Printing Corporation

Previously, after developing security ink with its own technology, KOMSCO discovered Gwangmyeong Ink and transferred banknote pigment manufacturing technology. In this process, Gwangmyeong Ink quickly acquired the technology and manufactured K-special security ink through additional facility investments and hiring production personnel.

Through these efforts, both parties succeeded in entering (exporting to) the global banknote printing ink market, which has high entry barriers, leaving an excellent case. The ink used in banknotes requires advanced technology and specialized facilities, and the Swiss company SICPA, the world’s number one company, almost monopolizes the market with an 85% share.

The entry of KOMSCO and Gwangmyeong Ink into the global banknote printing ink market is significant in that it demonstrates competitiveness in price while maintaining quality equal to that of SICPA.

Sung Chang-hoon, President of KOMSCO, said, “The overseas market entry of K-special security ink is a meaningful achievement made possible through collaboration between KOMSCO and Gwangmyeong Ink. KOMSCO will continue to strive to enhance Korea’s technological capabilities and status in the global market through co-growth with SMEs.”