‘100 companies designated as small giant companies’ including Wavice, RPS, IT Chem, and Poongwon Chemical Co. Ltd.
Ministry of SMEs(Small and Medium Enterprises) and Startups will support small giant companies producing parts, materials and equipment with 18.2B KRW at most.
[inews24 Sang-kook Choi] 55 local companies have been designated as small giant companies including air bearing spindle manufacturer Wavice, RPS, monomer for transparent polyimide film developer IT Chem, metal mask producer Poongwon Chemical, eco-friendly fuel cell vehicle part developer Boogook industries to lead localization of parts, materials and equipment.
Ministry of SMEs and Startups announced on the 9th, result of 1st selection of ‘100 small giant parts, materials and equipment companies project (100 small giant companies) who would increase technology independence of parts, materials and equipment sector and contribute to new industry creation in the future.
‘100 small giant companies’ is the first project among government driven parts, materials and equipment specialized company development road map namely ‘100 startups, 100 small giant companies, 100 leading specialized companies project.’
For selection of 100 small giant companies, total 1064 companies applied and went through document assessment) field & technology evaluation and lastly, public evaluation by public evaluation jurors held on the 5th. The finalists were chosen by ‘100 parts, materials and equipment small giant company selection review Committee (Committee Chairperson Yongmaan Park, Chairman of Korea Chamber of Commerce and Industry (KCCI)).
Looking at the 55 chosen small giant companies by category, it consists of 22 parts companies(40%), 17 materials companies(31%) and 16 equipment companies(29%). Distribution by technology is as follows: 16 electrical & electronics(29.1%), 10 semi-conductor(18.2%), each 8 machinery & metal, display(each 14.5%), 7 automotive(12.7%), 6 basic chemistry(10.9%). The finalists are composed of 38 unlisted companies and 17 listed(KOSDAQ 16, KONEX 1) of which innovative SMEs unrevealed to the stock market accounting for 70%. 44 selected companies(80%) were recommended as its technologies were acknowledged by customer.
The selected companies have an average of 14.7 R&D resources which is 4.5x greater than small & medium sized manufacturer’s average of 3.3 person. In addition, they have outstanding technology innovation competency by holding average 42 patents which is 7.9x greater than the S&M manufacturer average of 5.3. The average annual income is 43.5M KRW which is also 20% higher than the SME average of 35.95M KRW.
The chosen small giant companies will be aided with up to 18.2B KRW over five-year period for R&D, venture investment, business funding, research resources, export, marketing, etc. 45 openings of ‘100 small giant companies’ will be filled up with additional contest to be held next year.
Ministry of SMEs and Startups also informed that among the shortlisted 80 applicants but not selected companies will receive preferential support from the Ministry for technology innovation as they are excellent companies who have been evaluated by the public. Moreover, they can freely apply in the future for small giant selection process.
◇ 55 Companies designated as Small Giant Company (Listed by technical field in Korean alphabetical order)
▲Machinery(8) : Dawon Friction, Daesung Hitech, Samyoung Machinery, RPS, Ilshin Autoclave, Panasia, Flotron, Tokimec Korea
▲Semi-conductor(10) : Wavice, Nextin, DNF, Microfriend, AMT, ATI, MAT Plus, Youngchang Chemical, Will Technology, Park Systems
▲Display(8) : Base, Sunje Hi-tek, S&S Tech, SMS(Special Materials Source), Enjet, Econy, Cowin DST, Poongwon Chemical
▲Basic Chemistry(6) : IT Chem, ANYGEN, EVERCHEMTECH, FTC Korea, Enchem, Korea Bio-Gen
▲Automotives(7) : Kyerim MIM, Daeyang Electric, Boogook Industries, Seowoo Industry, Sunglim Group, Sensortec, AMOGREENTECH
▲Electrical & Electronics(16) : Gigavis, Daejoo Electronics Materials, Dongwoo Electric, VINATech, VITZROCELL, Semisysco, SEC, RS Automation, MK CHEM & TECH, OE Solutions, YM Tech, Innopia Technologies, Intellian Technologies, ChemOptics, PNE Solution, Hanla IMS