President Park Jung-guk of Hyundai Motor Company Awarded the Silver Tower Order of Industrial Service Merit

19th Automobile Day Ceremony Held
"Contribution to the World's First Ultra-Short-Range Radar Sensor Development"
Park Gwang-tae, CEO of Gwangju Global Motors, Awarded the Silver Tower Industrial Medal
"Contribution to the Launch of Korea's First Win-Win Job Model Company"

[Asia Economy Reporters Kiho Sung and Hyunseok Yoo] Park Jung-guk, President of Hyundai Motor Company, and Park Kwang-tae, CEO of Gwangju Global Motors, received the Silver Tower Industrial Medal in celebration of the 19th Automobile Day. Additionally, the government announced plans to actively support the future mobility industry, including the automotive parts sector, through infrastructure development and regulatory reforms.

The Korea Automobile Manufacturers Association and the Korea Automobile Industry Cooperative held a ceremony on the 15th at the Novotel Ambassador Hotel in Gangnam to award medals and honors to 33 contributors to the development of the automobile industry in commemoration of the 19th Automobile Day. Automobile Day has been celebrated annually since 2004 to mark May 12, 1999, when cumulative automobile exports surpassed 10 million units.

At the awards ceremony, President Park Jung-guk was awarded the Silver Tower Industrial Medal for contributions to the development of the world's first ultra-short-range radar sensor, rear emergency automatic braking technology, and Korea's first independent engine technologies (Alpha, Beta, Delta). Park Kwang-tae received the same medal for his role in launching Korea's first win-win job creation company. Kim Young-tae, Director of Dongbo, and Cho Joon-saeng, Technical Manager at Ssangyong Motor, received Industrial Medals. Additionally, four individuals received Presidential Citations, five received Prime Minister Citations, and twenty received Minister of Trade, Industry and Energy Citations.

Park Kwang-tae, Mayor of Gwangju Metropolitan City
[Photo by Irum Film Company]

Jung Manki, Chairman of the Korea Automobile Manufacturers Association and the Automobile Federation, requested in his commemorative speech that the National Assembly introduce a ‘regulatory reform system within the Assembly’ and urged the government to prepare ‘special measures to overcome short-term crises.’ He also called on companies to make ‘all-out efforts by executives, workers, and partner companies to overcome the crisis.’ He stated, "When creating new regulations through legislative action, the UK-style ‘One in Two or Three Out’ system should be adopted, which requires abolishing two or three existing regulations for every new one introduced. To this end, I ask that a ‘Regulatory Reform Special Committee’ be promptly established within the National Assembly."

Alongside this, the government promised support for fostering the future mobility industry. At the ceremony, First Vice Minister of Industry and Energy Jang Young-jin said, "If the private sector leads growth, the government will actively support private activities through deregulation and tax incentives."

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