┃ Co-hosted by Maeil Shinmun and Gyeongsangbuk-do Province
┃ 7 companies selected out of 27 applicants after evaluation

Gyeongsangbuk-do Province held the 33rd Gyeongbuk Small and Medium Enterprise (SME) Awards Ceremony on the 26th at the Multipurpose Hall of the Provincial Government Office. The ceremony honored outstanding SMEs that achieved excellent performance and contributed to regional economic development despite ongoing domestic and global economic uncertainties.

The Gyeongbuk SME Awards were first launched in 1993, the earliest such initiative nationwide, and have been jointly hosted by Gyeongsangbuk-do Province and Maeil Shinmun every year since 1997.

This year, a total of 27 companies across four categories were nominated through recommendations from cities, counties, and SME-related organizations. Following a rigorous evaluation process—including document screening, on-site inspections, and deliberation by a judging committee—seven companies were ultimately selected.

The Grand Prize was awarded to HONEST Co., Ltd. (Gyeongsan).
Category winners included Powon System Co., Ltd. (Gyeongsan) for Management Innovation, JY Autotech Co., Ltd. (Gyeongju) for Technology Development, LCTech (Gumi) for Job Creation, and Seowoo Co., Ltd. (Chilgok) for Women-Owned Enterprise.
The Excellence Awards were presented to Wolsan Co., Ltd. (Chilgok) and The Road to the East Sea Co., Ltd. (Yeongdeok).

Award-winning companies are granted various benefits, including:
▷ Preferential access to Gyeongbuk SME development funds (increased from KRW 300 million to up to KRW 500 million)
▷ Discounts on SGI Seoul Guarantee insurance fees and expanded guarantee limits
▷ A three-year exemption from local tax audits
▷ Promotional video screenings on the provincial government media wall and exhibition of the “Gyeongsangbuk-do Excellent Company” plaque
▷ Priority consideration for various SME support programs

HONEST Co., Ltd., the recipient of the Grand Prize, is a global export-oriented cosmetics manufacturer leading the K-beauty industry, producing natural haircare and skincare products. The company also serves as an official sponsor of the 2025 APEC Summit in Gyeongju. With a global supply network spanning over 50 partners across 21 countries, HONEST has achieved steady growth through an export-driven sales strategy. The company received high evaluation scores across all categories, including technological patent acquisition, next-generation cosmetics technology development, job creation, and employee welfare.

Other award recipients—Powon System Co., Ltd., JY Autotech Co., Ltd., LCTech, Seowoo Co., Ltd., Wolsan Co., Ltd., and The Road to the East Sea Co., Ltd.—were also recognized for their outstanding technological capabilities and production excellence, playing a pivotal role in strengthening the regional economy.

Governor Lee Cheol-woo of Gyeongsangbuk-do stated,
“Small and medium-sized enterprises account for 99% of the approximately 400,000 businesses in Gyeongbuk and serve as the backbone of our regional economy. We will continue to focus our administrative efforts on supporting not only the award-winning companies but all local enterprises so they can grow into globally competitive leaders.”

Photo caption: The 33rd Gyeongbuk SME Awards Ceremony, jointly hosted by Maeil Shinmun and Gyeongsangbuk-do Province (Provided by Gyeongsangbuk-do).