In Recognition of Performance Excellence

Doosan Corp. Chairman Park, Hyosung Corp. President Jung, Samil Spinning Co. Chairman Ro receive the Order of Industrial Service Merit, Gold Tower

Doosan Corp. Chairman Park Yong-man, Hyosung Corp. President Jung Yun-taek, and Samil Spinning Co. Chairman Ro Hee-chan were awarded the Order of Industrial Service Merit, Gold Tower, at the Commerce Day anniversary ceremony in Seoul on March 21.
The three were among 247 people who won orders and other diverse awards in recognition of their contributions to the development of commerce and industries at the 39th anniversary ceremony for Commerce Day at Kyoyukmunhwahoegwan in Yangjae-dong, Gangnam-gu. Approximately 1,000 people including Prime Minister Kim Hwang-sik, Minister of Knowledge Economy Hong Suk-woo, and Korea Chamber of Commerce & Industry (KCCI) Chairman Sohn Kyung-shik were present at the ceremony.
Doosan Chairman Park has been credited with restructuring the Doosan Business Group’s consumer product-intensive business portfolios into ones focusing on heavy industries and equipping the business group with a global competitive edge by securing proprietary technologies through M&As. He has been praised for his role in the resurgence of the Group by growing Hankoo Heavy Industries, which Doosan Business Group acquired in 2000, into Doosan Heavy Industries & Construction Co., which saw its sales jump four-fold in 10 years. He was also noted for transforming Daewoo Heavy Industries Machinery, acquired by the business group in 2005, which ranked 17th globally, into the world’s No. 5 machinery maker, Doosan Infracore.
Hyosung President Chung was acclaimed for his roles in making Hyosung Corp. a global No. 1 maker of spandex and tire cord while serving as a member of Hyosung Business Group’s management committee and for transforming the company into an exporting industry leader with 54 operations around the world.
Samil Spinning Chairman Ro was acknowledged for his role in catapulting the textile spinning company into the global No. 2 spot in the high-tension rayon sector through constant investments and R&D activities while serving as the company’s chairman for 39 years. He has also been serving as the chairman of the Korea Federation of Textile Industries (KOFOTI).
Ro announced a vision calling for having Korea join the ranks of the global top four by 2020 through shared growth, expanded exports, and the systematic nurturing of industrial textiles.
The Order of Industrial Service Merit, Silver Tower, went to Hyundai Motor Co. President Kim Chung-ho, who was given high marks for exploring automobile sales markets, while Gyeongnam Steel CEO Choi Choong-kyung and Hyundai Steel Vice President Hong Seung-soo each were awarded the Order of Industrial Service Merit, Bronze Tower. Choi has been credited with translating shared management activities such as the Mecenat movement in Korea into action, while Hong has been praised for successfully constructing an eco-friendly integrated steel mill fitted with the world’s first enclosed raw materials processing system.
Shin Chang Medical Co. CEO Kim Yong-chang and Seun Steel CEO Shin Jong-taek received the Order of Industrial Service Merit, Iron Tower, while Guyoung Tech CEO Lee Hee-hwa and Uju Electronics CEO Noh Young-back were honored with the Order of Industrial Service Merit, Tin Tower, respectively.
KCCA Chairman Sohn said in a congratulatory speech, “During this year, companies will have to expand investments and create more jobs by making the most of opportunities, such as the implementation of the Korea-U.S. Free Trade Agreement.” He also called for the government to ensure policy consistency and lessen uncertainties so that companies can devote themselves to doing business without apprehension.

Korea Chamber of Commerce and Industry Chairman Sohn Kyung-shik joins Doosan Corp. Chairman Park Yong-man, Hyosung Corp. President Jung Yun-taek, Samil Spinning Chairman Ro Hee-chan and other order and prize winners at the Commerce Day anniversary event in Seoul on March 21.