Top in Job and Added Value Creation! ... 15 Gyeongnam Star Companies Born in 2022

The 2022 Gyeongnam Regional Star Company Designation Certificate Award Ceremony was held on the 18th at Gyeongnam Technopark.

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Seryeong] On the 18th, Park Wan-su, Governor of Gyeongnam Province, presented the 2022 Gyeongnam Regional Star Company designation certificates to 15 companies in the province.

The awarding ceremony held at Gyeongnam Technopark was attended by Governor Park, Choi Yeol-su, Head of the Gyeongnam Regional Small and Medium Venture Business Administration, and Noh Choong-sik, Director of Gyeongnam Technopark.

The Star Company Development Project is a policy to systematically nurture companies selected for their high growth potential and excellent job creation and added value capabilities among the province's key industries, aiming to grow them into global strong small and medium enterprises.

This year, the selected companies were Daegyun, Daejin HS, Banseok Industries, Samdo Industry, Samjin Precision, Seongho Electronics, Segye Chemical Industry, Synswin, Arasoft, ANH Structure, Yoosung, Giant Chemical, Jungok, GTC, and Hanra Industry.

Once designated as a Star Company, in the first year of selection, each company receives support up to 30 million KRW for establishing company-specific growth strategies through corporate diagnosis, research and development planning, and dedicated manager consulting.

From the second year, companies can participate in the Small and Medium Venture Business Administration’s exclusive Star Company public projects, and if finally selected, can receive research and development funds up to 200 million KRW annually.

Gyeongnam Province has designated 76 companies from 2018 to this year, and through customized support according to the growth stage of companies, has fostered 14 global strong small and medium enterprises and 3 regional innovation leading companies.

Company A, selected as a Star Company in 2020, localized the valve spool, a core part of automobile transmissions that had been entirely dependent on imports, and is exporting to overseas automobile companies such as Volkswagen and Audi.

Company A received support for growth strategy consulting and research and development, achieving an average annual export growth rate of 18%, and in 2021, exports accounted for more than 50%, completely transforming from a domestic market-centered company to an export-oriented company.

Governor Park said, “The Star Companies selected this time are excellent companies that have steadily grown despite difficulties such as the prolonged COVID-19 pandemic and rising raw material prices. Our province will do its utmost to help local Star Companies provide good jobs, lead the regional economy, and leap forward as global companies.”

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