Nexen Group's Kang Byung-jung and Sewoon Steel's Shin Jeong-taek Receive Dongmyung Award

Chairman Kang Byung-jung of Nexen Group and Chairman Shin Jeong-taek of Sewoon Steel have been selected as recipients of the '14th Dongmyeong (東明) Award.'

Dongmyeong University announced on the 1st that Chairman Kang Byung-jung of Nexen Group and Chairman Shin Jeong-taek of Sewoon Steel were unanimously chosen by the judging panel as the grand prize winners in the industrial sector of the 14th Dongmyeong Award.

The award ceremony will be held at 2 p.m. on the 10th at the Busan Chamber of Commerce and Industry, with prize money of 10 million KRW each.

14th Dongmyung Award recipients: Kang Byung-jung, Chairman of Nexen Group (left), Shin Jeong-taek, Chairman of Sewoon Steel.

Chairman Kang Byung-jung received high praise for ▲ revitalizing local industries through transparent and open management since the company's founding ▲ growing into a global tire manufacturer through continuous investment and technological development ▲ pioneering overseas markets by diversifying exports ▲ efforts to develop trustful labor-management relations and create jobs ▲ actively returning corporate profits to society (operating cultural scholarship foundations).

He has also consistently engaged in various social welfare activities, including operating cultural scholarship foundations such as the Wolseok Busan Leading Scholarship Foundation, Nexen Wolseok Cultural Foundation, and KNN Cultural Foundation, promoting academic, cultural, and artistic development in the local community, supporting youth scholarships, and distributing rice to low-income families. He also served as the 15th, 16th, and 17th president of the Busan Chamber of Commerce and Industry.

Chairman Shin Jeong-taek was highly regarded for ▲ achieving the first 1 trillion KRW in sales at a domestic processing center ▲ possessing the largest processing capacity in the country ▲ enhancing customer satisfaction through linked sales systems and JIT systems ▲ reducing costs by defending against the inflow of imported goods and improving logistics flow ▲ practicing social return of corporate profits through various leadership and donation activities.

He has also received numerous awards, including the 32nd Trade Day 10 Million Dollar Export Tower, the 2008 Korea’s Most Respected CEO Award, the 2010 Korea Social Responsibility Management Award, the 13th Busan Culture Award, the 2014 Hyupsung Social Contribution Award, the 2015 Ministry of Justice Crime Prevention One Heart Competition National Medal of Moran, and the 2022 Ministry of Health and Welfare Korea Sharing National Award Ministerial Commendation. Chairman Shin also served as the 19th and 20th president of the Busan Chamber of Commerce and Industry.

Established jointly by Busan City and various sectors in 2008, the Dongmyeong Award is a public commendation honoring individuals who have built achievements by practicing challenge, creativity, and service in the spirit of the late Chairman Kang Seok-jin of Dongmyeong Lumber, a local Busan company that led Korea’s export and industrial modernization in the 1960s and 1970s (founder of the Dongmyeong Cultural Academy school foundation).

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