Government Selects 63 New World-Class Products and 73 Companies

[Sejong=Asia Economy Reporter Haeyoung Kwon] On the 18th, the Ministry of Trade, Industry and Energy held the 2021 'World-Class Product Certification Ceremony' at Lotte Hotel Seoul, selecting 63 new items and 73 companies as world-class products and enterprises, and awarding certificates.

The World-Class Product Development Project is a program that selects promising export companies to diversify export products and expand future export engines, providing preferential support such as additional points when participating in overseas marketing, research and development (R&D), and financial support projects. It was introduced in 2001 and marks its 20th anniversary this year.

Currently ranked within the top 5 in the global market share, newly selected world-class products include 20 items and 26 companies such as printed circuit board (PCB) surface treatment process equipment (TCK), stacking equipment (Uwontechnology), and Suezmax crude oil carriers (Daehan Shipbuilding Co., Ltd.). Next-generation world-class products, which are highly likely to enter the top 5 within the next 7 years, include 43 items and 47 companies such as polarfil staple fiber (Huvis), reactor remote dismantling devices (Doosan Heavy Industries & Construction), and HVAC blower motors (Hyosung Electric).

By sector, the healthcare industry led with 16 items including super antibiotics and manual defibrillators, followed by 12 items in the electrical, electronics, and semiconductor sectors, and 11 items in the industrial machinery and plant sectors. By company size, small and medium-sized enterprises accounted for 49 companies, and mid-sized companies for 11, making up 82% of the total.

Additionally, to commemorate the 20th anniversary of the World-Class Product project, the Ministry of Trade, Industry and Energy selected world-class product manufacturing companies that contributed to pioneering overseas markets and increasing exports, awarding commendation certificates and presenting plaques of merit to three companies that have maintained world-class product status for a long time: Siseon Biomaterials, Gastron, and Eotechnics.

Park Jin-gyu, Vice Minister of the Ministry of Trade, Industry and Energy, stated, "World-class products are the fruits of the efforts and passion of entrepreneurs who have continuously strived based on outstanding technological capabilities in an increasingly competitive global market. We will further expand and develop the world-class product system so that our strong small and medium-sized enterprises and mid-sized companies can grow into global specialized companies through overseas market expansion."

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