Ministry of SMEs and Startups Seeks Prestigious Long-Established Companies with Over 45 Years of Operation... Sales Revenue Limit Criteria Abolished

[Asia Economy Reporter Kim Bo-kyung] The Ministry of SMEs and Startups is recruiting prestigious long-established companies expected to achieve continuous growth across generations from April 29 to May 13.

Since 2017, the Ministry has selected a total of 30 companies as prestigious long-established companies. This year, after company evaluations and reputation verification from May to July, the prestigious long-established companies of the year will be selected around August.

Applicants must be small and medium-sized enterprises (SMEs) or mid-sized companies with over 45 years of business experience, excluding construction, real estate, finance, and insurance industries. From this year, the previous sales limit criterion (less than 300 billion KRW) for mid-sized companies has been abolished, allowing applications regardless of sales volume.

Applications can be submitted directly by companies or recommended online by any citizen. SMEs should submit by mail or visit the Korea Federation of SMEs, and mid-sized companies should submit to the Korea Federation of Mid-sized Enterprises by May 13.

To be selected as a prestigious long-established company, there must be no corporate tax arrears, legal violations, or social controversies. Additionally, applicants must score 80 points or higher based on evaluations of business longevity, economic and social contributions, corporate capabilities, and technological innovation.

Selected prestigious long-established companies will receive a certificate and a plaque, and may use the prestigious long-established company mark to promote their products. They will also receive benefits such as additional points when applying for Ministry of SMEs and Startups support projects including funding and export assistance.

A Ministry official stated, "We plan to publicize the growth factors and secrets to longevity of the selected companies through various channels such as social networking services (SNS) and the media to serve as good examples for SMEs."

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