Selecting the '100 Strong Small and Medium Enterprises in Materials, Parts, and Equipment' Together with the Public

[Asia Economy Reporter Moon Hyewon] The Ministry of SMEs and Startups announced that it will recruit a public evaluation panel from the 23rd of this month until the 31st of next month to select the ‘Top 100 Small and Strong Companies in Materials, Parts, and Equipment (hereinafter referred to as SoBuJang)’ representing the Republic of Korea together with the public.

In response to Japan’s export regulations, the Ministry of SMEs and Startups selected 55 strong companies leading the localization of the SoBuJang industry in the first round last year. This year, applications are being accepted until the 25th of this month to select the remaining 45 companies in the second round.

This year’s selection evaluation for strong companies is expected to proceed over about three months in the order of the first round written evaluation, the second round on-site and in-depth evaluation, and the third round public evaluation.

The public evaluation panel will play a role in directly monitoring the presentations and evaluation process of candidate companies during the third and final public evaluation stage and providing evaluation opinions on the presenting companies.

Anyone who meets certain requirements such as experience in the materials, parts, and equipment field can participate in the public evaluation panel.

Last year, a total of 865 people (competition rate 8.7:1) participated in the application for the first round Top 100 Small and Strong Companies public evaluation panel over ten days, showing strong interest.

Won Youngjun, Director of Technology Innovation Policy at the Ministry of SMEs and Startups, said, “In order to respond to changes in the global value chain due to Japan’s export regulations and the spread of COVID-19, the technological innovation performance and growth potential of small and strong companies in materials, parts, and equipment are receiving more attention,” and added, “As government support is focused on strong companies representing the Republic of Korea, we plan to actively reflect the opinions of the public evaluation panel in the evaluation to ensure transparent and fair selection.”

This content was produced with the assistance of AI translation services.