KCCI and Ministry of Industry Hold Awards Ceremony
Prime Minister's Award Goes to Kumho Tire and Ricoh
The Korea Chamber of Commerce and Industry and the Ministry of Trade, Industry and Energy held the '31st Corporate Innovation Awards' ceremony on the 3rd at the Chamber of Commerce and Industry building in Jung-gu, Seoul.
Jo Wook-je, CEO of Yuhan Corporation (right), is taking a commemorative photo after receiving the Presidential Award. Photo by Korea Chamber of Commerce and Industry
On this day, the highest honor, the Presidential Award, was given to Yuhan Corporation, and the Prime Minister's Award was given to Kumho Tire and Ricoh, respectively.
Yuhan Corporation strengthened its research and development (R&D) investment for global new drug development and actively adopted external ideas and technologies through its 'Open Innovation' strategy. In 2021, its lung cancer treatment drug, Rexarza, was approved as the 31st domestic new drug. In August, Rexarza obtained approval from the U.S. Food and Drug Administration (FDA) for combination therapy with Johnson & Johnson's Libtayo, achieving the milestone of being the first domestic anticancer drug to enter the U.S. market. Kumho Tire proactively implemented an eco-friendly business transformation by establishing solar power generation at its global sites and successfully developing tires using 80% eco-friendly materials to execute carbon neutrality. Ricoh introduced the waste collection service 'Upbox' to the market and launched the data-driven integrated waste management platform 'Upbox Cloud,' achieving digital innovation in the waste industry.
The Corporate Innovation Awards recognize exemplary companies leading management innovation and Environmental, Social, and Governance (ESG) management practices. The Minister of Trade, Industry and Energy Award was given to eight companies: Dongsung Chemical, Dong-A ST, BNK Financial Group, Sinsung ENG, CJ ENM, HDC Hyundai Development Company, Korea South-East Power, and Hanwha Systems. The Korea Chamber of Commerce and Industry Chairman's Award was presented to 21 companies, including SM Entertainment, SK Securities, and Hanssem.
Park Il-jun, Executive Vice Chairman of the Korea Chamber of Commerce and Industry, said, "The remarkable achievements of small and medium-sized enterprises that have achieved groundbreaking innovation through a shift in mindset turning crises into opportunities and bold investments stood out in particular. I hope that more of our companies will lead the global market with continuous innovation and a spirit of challenge amid the wave of change called the digital transformation."
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