13th Dongmyeong Awards Industry Sector Ceremony Held … Chairman Choi Geumsik and Ryu Gwangji Receive Awards, 10 Million Won Prize Each

Choi Geumsik, Chairman of Seonbo Industrial, the 13th Dongmyeong Award (Industry Category) winner (left), and Ryu Gwangji, Chairman of Geumyang.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] The 13th Dongmyung Awards in the industrial sector will be held at 2 p.m. on the 4th at the Busan Chamber of Commerce and Industry.

Dongmyung University will present awards to Choi Geum-sik, Chairman of Sunbo Industrial, and Ryu Gwang-ji, Chairman of Geumyang, at a ceremony attended by key figures from various fields including Park Hyung-joon, Mayor of Busan, Kang Byung-jung, Chairman of Nexen Group, and Kim Ji-wan, Chairman of BNK Financial Group, awarding each a prize of 10 million KRW.

This year’s awardee, Choi Geum-sik, Chairman of Sunbo Industrial (age 70), introduced the world’s first modular UNIT concept for ships and established health, safety, and environmental standards at shipyards, contributing to the development of the local industrial sector.

He has engaged in volunteer activities caring for socially vulnerable groups, including making side dishes for charity, distributing briquettes, sponsoring child abuse prevention, volunteering at free meal services, donating supplies to medical institutions, and providing daily necessities to patients without family support.

Through the Seonjae Scholarship Foundation, he has also greatly supported nurturing local talents by providing educational opportunities to underprivileged groups in education.

In 2013, he established the nonprofit public interest corporation ‘Sunbo Lighthouse’ to support educational projects annually in impoverished countries overseas. He is also active as the chairman of the Busan Community Chest of Korea.

Another awardee, Ryu Gwang-ji, Chairman of Geumyang (age 56), was recognized for leading a 67-year-old local Busan company, contributing to economic development, and growing Geumyang into a global enterprise.

He significantly contributed to the growth of Busan’s footwear industry by domesticating the first foaming agent in Korea. Managing a specialized foaming agent company supplying global brands such as Nike, he developed it into a leading eco-friendly foaming agent and footwear material company in Busan.

He established state-of-the-art equipment at the company’s headquarters research institute and annually hires local research talents, building a research and production base centered in Busan.

He leads talent development through various industry-academic collaborations with local universities and supports youth self-esteem enhancement and dropout prevention programs through donations to social cooperatives.

The Dongmyung Award is a representative public service award in Busan, given to individuals who have built achievements by continuing the spirit of challenge, creativity, and service of the late Kang Seok-jin, former chairman of the old Dongmyung Lumber, who led exports and economic development during the industrialization era.

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