Ministry of Trade, Industry and Energy and KOTRA Award Commendations to 10 Individuals for Outstanding Contributions to Overseas Investment Expansion

by Han Yeju

Published 30 Dec.2024 11:00(KST)

The Ministry of Trade, Industry and Energy and KOTRA announced on the 30th that they have selected 10 individuals for the 2024 Overseas Investment Advancement Merit Awards and presented commendations in the name of the Minister of Trade, Industry and Energy.

The Overseas Investment Advancement Merit Awards aim to commend the achievements of Korean companies in overseas investment, encourage investment intentions, and promote awareness of CSR (Corporate Social Responsibility). The selection criteria include contributions to local market development, social contribution activities, and enhancement of national competitiveness by overseas investment companies and supporting organizations.

The awardees were selected through submissions via KOTRA and the Korean Commercial Arbitration Board, reviewed by the KOTRA Awards Review Committee, and finally decided by the Ministry of Trade, Industry and Energy’s Merit Review Committee.

KOTRA Headquarters Exterior. KOTRA

For 2024, a total of 10 awards were given: 7 for overseas investment merit and 3 for CSR merit. The recipients include four individuals from large corporations such as LG Energy Solution, Hyundai Rotem, LS Metal, and Hyundai Capital; two individuals from mid-sized companies including Hankook Tire & Technology and Daesang; one individual from a small business, Rucotec; and three from supporting organizations including KOTRA. By category, in overseas investment, there were 2 large corporation recipients, 2 mid-sized company recipients, and 3 supporting organization recipients; in CSR, 2 large corporations and 1 small business employee were selected.

Kim Tae-hyung, CEO of KOTRA Invest Korea, stated, "Our companies’ overseas investment advancement brings various benefits such as contributing to domestic exports, industrial cooperation with foreign companies, and entry into global supply chains. We hope that this Overseas Investment Advancement Merit Award serves as an opportunity to reflect on the valuable significance of overseas investment advancement."