61st Trade Day... Kia, $25 Billion Highest Export Tower

Kia Awarded $20 Billion Export Tower Last Year... Receiving Again This Year
Total 1,545 Companies Receive Export Tower
597 Meritorious Persons Including Hwashin Bolt, SK Hynix, and Kia

On the occasion of the 61st Trade Day this year, 1,545 companies including Kia will be awarded the 'Export Tower'. Kia, following last year's $20 billion Export Tower award, will receive the $25 billion Export Tower this year as well.

The green light is on at the traffic signal in front of the Hyundai-Kia Motors headquarters in Seocho-gu, Seoul. Photo by Kang Jin-hyung

The Korea International Trade Association announced on the 4th that it will hold the '61st Trade Day Ceremony' on the 5th at COEX in Samseong-dong, Gangnam-gu, Seoul. To encourage the trade industry that has achieved positive export growth for 14 consecutive months despite difficult external conditions, awards will be given to Export Tower-winning companies and government commendation recipients.

The Export Tower is an award given when a corporation sets a new annual export record (based on July 1 to June 30). For example, the $10 billion Export Tower is awarded to a company that has never recorded annual exports exceeding $10 billion before but sets a new record in that year.

The government established 'Export Day' on November 30, 1964, to commemorate Korea's achievement of $100 million in exports, and renamed it 'Trade Day' in 1990. After achieving $1 trillion in trade on December 5, 2011, as the ninth country in the world to do so, the date was changed from November 30 to December 5 starting in 2012.

Kia received the highest Export Tower award at $25 billion. Through efforts such as new car launches and supply chain expansion, Kia received the $20 billion Export Tower last year and will receive the $25 billion Export Tower this year.

POSCO Future M received the $2 billion Export Tower, HD Hyundai Electric and Deokyang Industry received the $1 billion Export Tower, and a total of 1,545 companies will be awarded Export Towers. 93% of the awarded companies are small and medium-sized enterprises. Among the 55 companies awarded Export Towers for exports exceeding $100 million, 17 companies (30.9%) were in the automobile, auto parts, and secondary battery sectors.

There are 597 commendation recipients. These recipients receive government awards and commendations for their contributions to pioneering overseas markets and expanding exports. The number of Gold Tower Industrial Medals awarded this year increased from 4 to 5 for the first time in three years since 2021. The KITA Chairman's Commendation will also be awarded to 80 people.

The Gold Tower Industrial Medal recipients are Jung Soon-won, CEO of Hwashin Bolt Industry; Lee Sang-rak, Vice President of SK Hynix; Yoon Seung-gyu, Vice President of Kia; Abraham Ungar, Chairman of Ray Shipping Group; and Cho Ki-jun, CEO of Shinchang FA.