Hyundai Motor Company Awarded 'Top Export Tower' on the 60th Trade Day Ceremony

The Korea International Trade Association announced on the 4th that it will hold the '60th Trade Day Ceremony' on the 5th at COEX in Samseong-dong, Gangnam-gu, Seoul. Trade Day was originally established as 'Export Day' on November 30, 1964, to commemorate the achievement of $100 million in exports, and was renamed Trade Day in 1990. After reaching $1 trillion in trade on December 5, 2011, becoming the ninth country in the world to do so, Trade Day has been celebrated on December 5 since 2012.

This year's ceremony slogan is '60 Years of Export-Driven Nation, Korea Leaps Again!' Hyundai Motor Company received the highest Export Tower award for $30 billion. The KITA explained, "Hyundai Motor has increased its export volume by about 30% compared to the previous year as a result of continuous efforts to expand export markets."

Kia received the $20 billion Export Tower, LG Innotek the $10 billion, and Samsung SDI the $6 billion Export Tower awards respectively. A total of 1,704 companies were honored with Export Tower awards this year. Among the Export Tower awardees, 91% (1,555 companies) were small and medium-sized enterprises. By industry, the automotive sector (7.2%, 122 companies) and secondary battery sector (8.2%, 140 companies) showed significant progress.

Genesis GV80. [Photo by EPA Yonhap News]

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The Export Tower is awarded when a corporation achieves a new record by surpassing a specific export performance threshold. There are a total of 49 categories. For example, a company awarded the $30 million Export Tower is one that has never before recorded annual exports exceeding $30 million and sets a new record in that year.

In the export merit category, Son Bo-ik, CEO of LX Semicon; Jeon Se-ho, Chairman of Simtek; Oh Seok-song, CEO of Meta Biomed; and Yoon Jong-chan, CEO of BMT, received the Gold Tower Industrial Medal. A total of 596 individuals received government awards and commendations. The Korea International Trade Association President's Commendation was awarded to 80 people.

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