Businesses honored for product innovation

The 37th Korea National Quality Awards were held Tuesday at COEX Auditorium in Samsung-dong, southern Seoul, with Vice Economy Minister Yoon Sang-jik and representatives of some 1,600 company in attendance.

The event, hosted by the Korea Agency for Technology and Standards and organized by the Korean Standards Association, honors entrepreneurs and businesses that have shown achievements through quality management.

Eighty-one individuals received awards, with WOORY Industrial Company CEO Kim Myung-joon receiving the Gold Tower, also known as the Order of Industrial Service Merit, the country’s highest decoration for a businessman.

The company, which has manufactured automobile parts for 40 years, entered the European and U.S. markets and has seen more than 30 percent growth in sales every year.

Its innovation and quality control have been recognized globally as companies such as DaimlerChrysler and Visteon have selected it as one of their best contractors.

A Silver Tower, the second prize, was given to Shim Jae-seol, president and CEO of LG Mtron, a machinery and electronic manufacturer and Lee Kae-jae, former vice president of Korea Minting, Security, Printing and ID Card Operating Corp.

Thirty companies were also honored. Automobile parts manufacturer Sungwoo Hightech was one of 17 companies honored with a presidential citation

The company was recognized for its competitiveness in product quality both in 2009 and 2010. It also earned the highest points in quality control from its key clients Hyundai Motor and its affiliate Kia Motors, while Global GM offered the company the contractor of the year award for third consecutive year.

In his speech, Prime Minister Kim Hwang-sik emphasized innovation for the purpose of better adapting to the global industrial trend and urged participants to join efforts to produce world-class products.

By Lee Ji-yoon (jylee@heraldcorp.com)