Growing with SMEs
Korea Midland Power Co. (KOMIPO) has received the “excellent” rating at the evaluation on public companies’ small and mid-size companies support plans and implementation run by the Ministry of Trade, Industry and Energy (MOTIE).
The company has received the highest rating for two years in a raw. Only three out of 25 public companies, including KOMIPO, had the “excellent” rating at the shared growth evaluation.
KOMIPO successfully pushed ahead with “'K-Jang Bogo Project,” a specialized brand to push into the global market together with small and mid-size companies, and achieve 227.2 billion won (US$197.14 million) of cumulative exports of partner companies, which was the highest, from 2010 and 2016. With its effort to continuously and systematically pursue its shared growth strategies with small and mid-size companies, the company was able to receive the rating.
KOMIPO also visited Malaysia and Europe with 20 partner companies last month and help them register as vendors and hold export consultation meetings with global power generator producers including GE, Siemens and Ansaldo Energia, securing a bridgehead to tap into the European market.
In addition, the company has become the first state-run company which introduced “Shared Growth 1+2, program” which consists of one conglomerate and two small and mid-size companies, in order for small and mid-size companies to expand their domestic markets. Under the system, KOMIPO helped small and mid-size companies win deals worth 137.4 billion won (US$119.22 million) and increase their large construction participation rates to 38.6 percent last year, leading a shared growth between small and mid-size companies and public companies.