On the 19th, Certificate Award Ceremony for Prestigious Long-Established Companies Held
Comprehensive Evaluation Among Domestic Companies with Over 45 Years of Operation
The Ministry of SMEs and Startups announced on the 19th that it held the ‘9th Certificate Award Ceremony for Prestigious Long-Established Companies’ at the Korea Federation of SMEs in Yeouido, Seoul.
This year, a total of 82 companies applied for the prestigious long-established company designation, and 10 companies were selected. As a result, the number of prestigious long-established companies increased from 6 in 2017 to a total of 53.
Prestigious long-established companies are selected through a comprehensive evaluation of social responsibility, economic contribution, research and development (R&D), etc., from among domestic companies with over 45 years of business history (16,743 companies) that apply.
This time, ‘Geumseong Publishing’ became a prestigious long-established company. It is a leading domestic textbook publishing company. It developed edutech programs such as the learning paper ‘Purunet’ and the English program ‘English Buddy,’ and has been selected as the best education brand chosen by parents for 19 consecutive years.
‘Daeyang Electric Industry’ started with the localization of lighting equipment for ships and developed the 6000m-class unmanned submersible technology capable of exploring 97% of the ocean, becoming the first in Korea and the fourth in the world. This has contributed to Korea’s rise as a maritime powerhouse.
‘Dongmi Electric Industry’ started with general-type pole transformers and now produces all types of transformers as a key partner of Korea Electric Power Corporation, helping to provide stable power supply. Following its entry into the U.S., it is preparing for a greater leap through expansion into Europe.
‘Sempio Foods,’ the number one soy sauce company with 77 years of history, is promoting Korean food culture overseas by launching independent brands such as ‘Yorinessence Yeondu’ and ‘Fontana’ through research on Korean sauces and fermentation.
Along with these, ‘Seongil SIM,’ agricultural corporation ‘Cheonyeon Food,’ ‘Geumyong Machinery,’ ‘Rino Industry,’ ‘CTR,’ and ‘KPF’ were also named prestigious long-established companies.
They will be provided with exclusive plaques that can be used for corporate promotion. Support will also be given for promotional activities through planned reports and video production about their longevity secrets and social contributions. Additionally, they will receive benefits such as extra points in various government support programs including policy funds, market access, exports, and industrial technical personnel selection.
Oh Young-joo, Minister of SMEs and Startups, said, “Prestigious long-established companies that have sustained growth by continuing family businesses through numerous hardships such as the oil shock, foreign exchange crisis, and global financial crisis will serve as role models for many companies.” He added, “We will strengthen support for business succession and discover incentives for prestigious long-established companies so that small and medium-sized enterprises and mid-sized companies can grow into long-established companies across generations.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
