Daegu City Selects 25 Promising Growth Star Companies ... "We Will Help Them Become Global Enterprises"

Sangyeok Government Complex, Daegu City.

[Asia Economy Yeongnam Reporting Headquarters Reporter Koo Dae-sun] Daegu City, Daegu Technopark, and Daegu Center for Creative Economy and Innovation have newly selected 7 Star Companies, 13 Pre-Star Companies, and 5 Star Venture Companies that will illuminate Daegu's economy for the next 50 years.

The 2022 New Star Company Certificate Award Ceremony will be held on the 7th at 3 PM in the main auditorium of the Sangeok Building, Daegu City Hall.

About 60 people will attend the event, including Daegu Mayor Hong Joon-pyo, Do Geon-woo, Director of Daegu Technopark, Lee Jae-il, Director of Daegu Center for Creative Economy and Innovation, and 24 representatives of the selected companies.

The Pre-Star Companies and Star Venture Companies selected this year were chosen through a multi-stage evaluation process including document review, presentation evaluation, on-site evaluation, and comprehensive evaluation by a panel of experts in each field, starting from recruitment announcements in May and February respectively, overcoming high competition rates.

The competition rates were 3.57 to 1 for Star Companies, 5.23 to 1 for Pre-Star Companies, and 10.2 to 1 for Star Venture Companies.

The newly selected Star Companies are CL Co., Ltd. (ABB), Bluesen Co., Ltd. (Machinery), Korea Electric Wire Co., Ltd., Bando Co., Ltd., Mirae Advanced Materials Co., Ltd., CGF Co., Ltd., and Agricultural Corporation Youngpoong Co., Ltd. As of last year, their average sales were 31.9 billion KRW, and the average number of employees was 60.

The newly selected Pre-Star Companies include Mocon Co., Ltd. (Robotics), ACIS Technology Co., Ltd. (Semiconductors), Denstar Co., Ltd., MRI Innovation Co., Ltd., JM Biotech Co., Ltd., TG Biotech Co., Ltd., DG Entertainment Co., Ltd., Dream Ace Co., Ltd., ALI Co., Ltd., Insol M&T Co., Ltd., Branded Industry Co., Ltd., G-Clo Co., Ltd., and Shinsung Hightech Co., Ltd. (Future Mobility). As of 2021, their average sales were 4.4 billion KRW, and the average number of employees was 21.

The newly selected Star Venture Companies are Bringco Co., Ltd., ALI Co., Ltd., Blossom Cloud Co., Ltd., Conext Co., Ltd., and Power Player Co., Ltd. (IoT). As of 2021, their average sales were approximately 3.7 billion KRW, and the average number of employees was 29.

Daegu City has established a ‘growth ladder corporate nurturing system’ that supports company growth from Star Venture Companies to Pre-Star Companies to Star Companies, promoting regional economic revitalization through this support.

Started in 2007 and now in its 16th year, Daegu City's ‘Star Company Nurturing Project’ is a regional representative corporate development policy that discovers promising companies with growth potential and innovation capabilities and supports them with customized assistance at each growth stage to scale up into global small giants leading the regional economy.

Yoon Seung-hwan, CEO of Mirae Advanced Materials Co., Ltd., selected as a Star Company, said, “Along with being selected as a Star Company, we will accelerate the development of next-generation technologies in line with Daegu City's next-generation battery industry nurturing policy to become a leading company in battery material components.”

Daegu Mayor Hong Joon-pyo said, “The growth of small and medium-sized enterprises is directly linked to regional economic development and will be a pivotal driving force leading Daegu's economy for the next 50 years. We will spare no effort to actively support their growth into powerful companies of global standards beyond the region.”

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