A general view of a session to .designate and nurture companies with excellent growth potential at Seoul LW Convention on Nov. 8. (Photos: KICOX)

President Hwang Kyu-yeon of Korea Industrial Complex Corp. (KICOX) speaks at a session to .designate and nurture companies with excellent growth potential.

Korea Industrial Complex Corp. (KICOX) held a session at Seoul LW Convention on Nov. 8 to designate and nurture companies with excellent growth potential.

During the session, a plan to designate and nurture companies with good growth potential was unveiled, and support practices for building consensus were shared.

An expert gave a lecture on structural change within the industry and new businesses, and each subcommittee had a meeting.

KICOX plans to designate 50 companies with excellent growth potential, annually through public contests and evaluations, and nurture 200 companies with excellent growth potential for the next five years.

The designated companies are offered diverse support packages from the Corporate Growth Support Team for two years. Eleven teams, each comprising of experts in the financing, export, customs and technology sectors, are operated across the nation to provide support companies accommodated at state-run industrial complexes.

KICOX said the move is designed to explore additional support steps to designate, support and nurture promising companies with growth potent, which could create greater spillover effects, such as production and job creation through leading industries at state-run industrial complexes with the ultimate goal of developing them into global leaders.

KICOX President Hwang Kyu-yeon said, “The project to nurture companies with excellent growth potential is expected to play a pivotal role as part of the government’s vision and strategies of resurrect the manufacturing industry.” The session is intended to serve as a precious time for businessmen across the nation to forge consensus at one place, he added.

KICOX Hosts 2019 Industry Site Location Conference

KICOX and the Ministry of Trade, Industry and Energy (MOTIE) hosted the 2019 Industry Site Location Conference at Daegu Grand Hotel on Nov. 27.

The event was designed to discuss ways of fleshing out the government’s plan to transform industrial complexes, announced on Nov. 11, which is part of the government’s strategies to resurrect the manufacturing industry.

About 150 people from industry, academia and research circles participated in the conference. The event was held under the theme “Domestic and Overseas Environment Changes and the Path of Korean Industrial Complexes.”

Prof. Park Hee-jae of Seoul National University gave a keynote speech under the theme “Era of the 4th Industrial Revolution and Innovation & Entrepreneurs’ Spirit.”
Participants had lively discussions on five themes related to greater transformation of industrial complexes.

KICOX President Hwang said, “As industrial complexes and the manufacturing industry are now faced with a crisis, I feel a sense of heavy responsibility and mission.” KICOX will make all-out efforts to lead innovation of the Korean industry through the greater transformation of industrial complexes in cooperation with the government and local autonomous bodies, he added.