Chairman Kang Ho-kap of the Association of High Potential Enterprises of Korea (Photo: AHPEK)

Chairman Kang Ho-kap of the Association of High Potential Enterprises of Korea has been reappointed to serve a second four-term until February 2019. The appointment was made at the association’s general meeting on Feb. 23 at Hilton Hotel in Yeouido, Seoul. His first term began in February 2013.

Members at the general meeting resolved to work for reform of the laws and regulations on medium-sized business firms in Korea and attract more medium-sized firms to join AHPEK, and broaden communication among the members as key management objectives for AHPEK. AHPEK also decided to strengthen its lobby arm for the government and the National Assembly for policies to support the growth of its members through the reform of various laws and regulations governing its members’ business activities. 

AHPEK will take charge of running the M&A Support Center and the Center for Renowned Long-Life Enterprises and hold a session to explain the need for the establishment of a Medium Enterprise Global R&D Multiple Center in the Magok District in Seoul at the end of this month. AHPEK unveiled its AHPEK app to collect information on what’s going on among its members and the issues it is faced with, in particular, the problems that its members have, ideas and opinions to solve those problems through the mobile app. From next month, AHPEK will announce the news concerning hiring by its member firms.

Chairman Kang said the position of medium-sized firms has been upgraded, but laws and regulations are more favorable for large firms because they are richer and larger, employing more people than the medium-sized ones. He said the laws need to be changed so that the playing field can be leveled so that smaller firms can do more for the national economy and the country by further globalizing their operations. Chairman Kang said he will go any lengths to support them to this end.

The first High Potential Enterprise Businessmen's Day, hosted by Small and Medium Business Administration and the Association of High Potential Enterprises of Korea, was held at the 63 Building in Yeouido, Seoul, on July 22. The main theme was “Economic Growth and Power for Creation of Jobs. Up High Potential Enterprises, the Hope for Korean Economy.”

Some 200 participants, led by Prime Minister Hwang Kyo-ahn, legislators and executives of medium-sized enterprise took part.

The major significance of the event has been that it was the first meeting held since the promulgation of the Medium Enterprise Special Law to boost the spirit of those working for medium-scale business companies around the country and building up pride in their business firms.

The event included a ceremony for the first High Potential Enterprise Businessmen's Day and a seminar on the social responsibility for those working for the medium-scale business firms.

About 300 people led by Prime Minister Hwang Kyo-ahn, Chairman Choi Soo-kyu of the Small and Medium Business Administration, and Kang Ho-kap of the Association of High Potential Enterprises of Korea, attended the ceremony.

Prime Minister Hwang, in his congratulatory speech, said the government understands that medium-sized enterprises play a major role in the Creative Economy, so they legislated the Medium Enterprise Law in July. He said the government will try to build ladders for growth for small, medium and large businesses together and streamline various laws and regulations governing their operations.

In his opening speech, Chairman Kang Ho-kap said he would like to let the country know that medium-sized business firms are prepared to be a bridge for growth, employment and social responsibility with the economy down, worsened job situation for youths and other problems due mostly to MERS.

In the meantime, the Special Committee for Small and Medium-sized Enterprises of the ruling Saenuri Party held a meeting to exchange opinions on providing policy support and ideas to reform the systems to help small and medium-scale firms with some 30 members of the committee and party leaders led by Chairman Rep. Kim Moo-sung attending.

Also on July 22, a business association representing South Korean mid-sized firms made its debut as the Also Association of High Potential Enterprises of Korea following the enforcement of a special law for cultivating mid-sized firms.

“We expect that mid-sized firms, which have long been isolated in the big business-driven Korean economy, will be able to work in an improved business environment to make more aggressive advancements into globally competitive enterprises,” AHPEK Chairman Kang Ho-gap said at a ceremony last week to mark the launch of the association.

Kang is currently the chairman of automotive parts supplier Shin Young Metal, a mid-sized firm with sales of 800 billion won ($780 million) last year.