Chokwang Paint Selected as '2021 Busan-type Hidden Champion' Company

Development of Chemical Solutions for Drones, Challenge by Global Chemical Company

At the Busan-type Hidden Champion Company Certification Ceremony, Yang Seong-a, CEO of Jokwang Paint, posed with Park Hyung-jun, Mayor of Busan (left).
[Photo by Jokwang Paint]

[Asia Economy Reporter Kim Jonghwa] Chemical and materials specialist company Jokwang Paint Co., Ltd. has been selected as a '2021 Busan-type Hidden Champion' company by Busan Metropolitan City.

The Busan-type Hidden Champion certification is awarded by Busan Metropolitan City and the Busan Technopark Foundation to outstanding companies that combine growth potential and innovation to become global enterprises. This project supports companies that can lead innovative growth in Busan's economy and regional development, driving the creation of high-quality jobs.

Jokwang Paint, selected as a hidden champion company, plans to develop chemical solutions to enhance the performance of industrial drones, which are considered a core part of the 'future transportation equipment industry,' one of Busan's seven strategic industries. To this end, last month, the company signed a joint development agreement with P&U Drone Co., Ltd., a high-performance drone developer, and began developing a cooling solution to reduce heat generation in the internal engine block and battery of industrial hybrid drone bodies.

The Hidden Champion certification ceremony was held on the afternoon of the 15th at the Crystal Ballroom of Lotte Hotel Busan, attended by Park Hyung-joon, Mayor of Busan, Kim Moon-hwan, Director of Busan Small and Medium Business Administration, and Kim Hyung-gyun, Director of Busan Technopark.

Yang Sung-ah, CEO of Jokwang Paint, said, "Based on Jokwang Paint's unique eco-friendly management that considers the happiness of future generations, we will strive to become a global chemical company that contributes to humanity and cares for the environment."

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