Government Selects 8 Leading Companies in the Sports Industry

Winikoni, Mulla, Hollywood, Climb Korea, Ghana, Hanshin Shoes, S-Build, etc.
840 million KRW support over 3 years for business advancement, overseas market development, and international marketing

The Ministry of Culture, Sports and Tourism and the Korea Sports Promotion Foundation announced on the 17th that they have newly selected eight leading companies in the sports industry. These include Winiconi, a manufacturer of competitive sports equipment; Ghana, a swimwear manufacturer; Mulla, a manufacturer of leggings and yoga wear; and Hollywood, a manufacturer of billiard supplies. Also named were Hanshin Shoes, a sports shoe manufacturer; S-Build, a developer of artificial turf systems; Climb Korea, a designer of artificial climbing walls; and 4D Replay Korea, a developer of video replay systems. They will receive up to 840 million KRW in support over three years until 2023 for business advancement, overseas market development, and international marketing.

The Leading Sports Industry Companies project supports domestic sports companies with excellent capabilities to demonstrate competitiveness in overseas markets. It has been producing steady results since 2018. According to the Ministry of Culture, Sports and Tourism, the total sales of the selected companies increased by 9.4% in 2018 and 6.28% in 2019. Last year, when COVID-19 spread, sales decreased by 0.8%, maintaining the previous year's level. Total exports rose by 7.9% in 2018 and 5.43% in 2019, but decreased by 8.8% last year due to the impact of COVID-19.

Successful companies include Dirax, a manufacturer of exercise equipment, which saw a 12% increase in sales last year despite the spread of COVID-19. Exports also exceeded 7 million USD. W-Peak, an operator of sports amusement parks, continued its expansion by hiring all employees as full-time staff and opening new branches. Hongjin HJC, famous for producing the Ironman helmet for skeleton athlete Yun Sung-bin, has also enhanced its technological capabilities and is dominating the global market. A Ministry of Culture, Sports and Tourism official stated, "These companies will complete their three-year support period and become the first cohort of leading companies," adding, "To commemorate this, a graduation ceremony will be held on the 5th of next month."

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