Fire Door Manufacturing Industry Worth 1 Trillion Won, Large Corporations Prohibited from Entering for 3 Years

Dongbanwi Holds Plenary Session to Designate Suitable Industries for SMEs
Recommends Restraint on New Entry, M&A, and Production Facility Expansion

The fire door manufacturing market, valued at around 1 trillion won, has been designated as a suitable industry for small and medium-sized enterprises (SMEs).

On the 14th, the Korea Commission for Corporate Partnership held a plenary session at the 63 Convention Center in Yeouido, Seoul, and made this decision.

On that day, the Commission resolved to recommend the fire door manufacturing industry as a suitable industry for SMEs. Fire doors are used to block flames and smoke during building fires to reduce damage, and the domestic market size is approximately 1 trillion won. About 140 SMEs are engaged in fire door manufacturing.

Recently, mid-sized companies such as Kyungdongwon, Dongkuk Steel, and Aju MCM have entered the fire door manufacturing industry, prompting the SME sector to request designation as a suitable industry.

The Commission recommended that, for the next three years, large corporations refrain from entering the fire door manufacturing market and from mergers and acquisitions (M&A) of fire door companies, and that existing large corporations also refrain from expanding production facilities.

Additionally, it recommended forming a win-win council between large and small-medium enterprises to discuss cooperation plans for the fire door manufacturing industry and necessary discussions on the agreement regarding suitable industries. The recommendation period is from April 1, 2024, to March 31, 2026.

Furthermore, on the same day, the Commission set strategic goals through this year's business promotion plan, including ▲ spreading comprehensive win-win cooperation models ▲ expanding the base of a new culture of mutual growth ▲ and establishing a sustainable innovation ecosystem, and began full-scale activities.

Oh Young-gyo, Chairman of the Commission, stated, "We will innovatively promote a new mutual growth policy that proactively identifies and alleviates conflicts between companies, thereby easing the difficulties faced by our enterprises."

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