New Customer Experiences and Services Provided Despite 3 Highs Economic Crisis

2023 Asia Consumer Awards Judging Review
Professor Seoyonggu, Department of Business Administration, Sookmyung Women's University

The ‘2023 Asia Consumer Awards’ is an award that evaluates and selects companies and brands whose products and services, sold with a focus on consumer rights and benefits over the past year, have received the highest evaluations from Korean consumers. The judging panel consisted of a total of six members, including experts in the consumer field and officials from relevant government departments.

The judging panel prioritized ‘consumer evaluation’ in their assessment. From late last year to early this year, Asia Economy conducted an online survey, and companies that received the highest evaluations from consumers were initially recommended as award candidates. Additionally, the panel reviewed the candidates’ overall management activities beyond consumer satisfaction, including product and service safety, consumer protection, and social contribution, to evaluate the appropriateness of the awards. As a result, seven companies that received the highest evaluations from the judges were selected.

Among the four grand prizes, Coupang was awarded the Minister of Trade, Industry and Energy Award, KGC Ginseng Corporation and Daesang received the Minister of Health and Welfare Award. The Ministry of Food and Drug Safety Award went to Shinsegae Co., Ltd., and the Korea Food Industry Association President’s Award was given to CJ CheilJedang. For the special award, Dongseo Foods, which is engaged in social contribution activities supporting growth in the culture and arts sectors such as the Dongseo Literary Award and Dream Library, was selected. In addition, a total of 38 companies won the highest awards across 10 categories.

Currently, we are facing an economic crisis characterized by the ‘three highs’?high inflation, high interest rates, and high exchange rates?once again after three years of the COVID-19 pandemic. This year, uncertainties such as economic recession are greater than ever. Despite these ongoing difficulties, we express deep respect and great applause for the award-winning companies that continue to provide new customer experiences and services to consumers and create continuous customer value, thereby supporting the Korean economy.

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