Korea Environmental Industry & Technology Institute Selects 12 Outstanding Environmental Companies... Supporting Strengthening of Corporate Competitiveness

[Asia Economy Reporter Kim Bo-kyung] The Korea Environmental Industry & Technology Institute announced on the 25th that it has designated 12 environmental companies, including Yucheon Enviro, as "Excellent Environmental Companies of 2020."

The Excellent Environmental Company designation system has been implemented since 2012 to foster companies with outstanding business performance and technological capabilities, which have high growth potential in overseas markets, as representative companies in the environmental sector.

Among the companies selected this year, six companies?Yucheon Enviro, PPI Peace, Three AC, E& D, Deoksan Industrial, and IK?were re-designated as excellent environmental companies after a review process following the expiration of their five-year validity period since their initial designation in 2014 or 2015.

Green Tech INC, Daeyang Enviro, The Opo, Plasmatech, Ceracom, and NSV were newly selected this time.

Companies designated as excellent environmental companies receive support from the Ministry of Environment and the Korea Environmental Industry & Technology Institute to enhance their competitiveness through promotional activities, financial and export capacity strengthening, among other supports.

In particular, companies designated this year will receive support for technology and product modeling for market development, production of corporate promotional videos, and participation fees for overseas expansion-related events.

Additionally, companies applying for environmental technology development, policy fund loans, and overseas expansion support projects conducted by the Korea Environmental Industry & Technology Institute can receive additional points during the selection review process.

An analysis of the changes in business performance of 89 companies designated as excellent environmental companies from 2012 to last year, comparing the year before and after designation, showed that average sales increased by 24%, from 31.9 billion KRW to 39.5 billion KRW; employment rose by 12%, from 86 to 96 employees; and operating profit grew by 18%, from 1.97 billion KRW to 2.33 billion KRW.

Yoo Je-cheol, President of the Korea Environmental Industry & Technology Institute, stated, "Through the Excellent Environmental Company designation system, we will strengthen support so that outstanding environmental companies can grow into unicorn companies with a corporate value exceeding 1 trillion KRW, establishing them as a model for the success of the Green New Deal."

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