The Federation of Middle Market Enterprises of Korea (FOMEK) held the 11th middle market entrepreneurs' day ceremony on Dec. 1 at Lotte Hotel Seoul in partnership with the Ministry of Trade, Industry and Energy.
This year's ceremony, held under the theme "Middle market enterprises, gathering as one for a greater tomorrow," was organized to recognize the efforts of middle market entrepreneurs who have continued to grow through sustained innovation.
Middle market entrepreneurs' day is the largest annual event for the middle market sector, held under the Middle Market Enterprise Act enacted in Jan. 2014.
About 200 people attended the ceremony, including Prime Minister Kim Min-seok, First Vice Minister of Trade, Industry and Energy Moon Shin-hak, other key government officials, representatives and employees of middle market corporations, and officials from related organizations.
In his congratulatory remarks, Kim said, "The most important axis of the 'zero-point shift' policy befitting the stature of the Republic of Korea is the middle market enterprises, the backbone of the economy," adding, "We will communicate broadly with the middle market sector so that middle market enterprises can stand tall through real innovation."
Choi Jin-sik, head of the middle market federation, said, "The 5,868 middle market corporations, based on top-tier technological prowess, are steadily laying the foundation for the future growth engines of our industries that the world is enthusiastic about—not only traditional manufacturing, but also K-defense, bio, beauty, food, and content—and are the core driving force of Korea's 'real growth.'"
At the ceremony, 57 middle market entrepreneurs and contributors to the fostering of middle market enterprises who helped advance Korea's economy and industry—including OSANG Healthcare Chairman Lee Dong-hyun and Shinsung ENG CEO Lee Ji-seon—received honors such as the Order of Industrial Service Merit, Gold Tower.
The "middle market growth tower," established by the middle market sector in 2019, was also presented to 11 outstanding corporations that elevated from small to middle market status through strong performance and technological competitiveness.
As a core driver of "real growth," the middle market sector, through the "middle market, greater growth" ceremony declaring its resolve and vision, announced key action targets for middle market enterprises: creating 350,000 new jobs by 2026, investing 35 trillion won domestically, achieving $130 billion in exports, and leading in win-win cooperation.
Choi Jin-sik said, "External and internal economic uncertainty remains high, but entrepreneurship is a flower that blooms more splendidly in adversity, 'Angst Blüte,'" adding, "We will do our utmost to lay the groundwork for sustainable 'real growth' by continuously strengthening technological competitiveness through research and development, spreading a leading corporate culture in which labor and management develop together, and creating many more good jobs full of vision where young people can bet on their future."