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Korea's World-Class Products Capture Global Markets
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The Ministry of Knowledge Economy has added 58 items to the list of ¡°Korea¡¯s World-Class Products¡± as of 2011.
The ¡®World-Class Product¡¯ project has marked its 10th anniversary since it was launched in 2001 while the number of certified companies has steadily increased from 120 in 2001 to 553 in 2010.
In addition to Korea¡¯s World-Class Products, the Ministry of Knowledge Economy selects a separate group of products labeled ¡°Korea¡¯s Next Generation World-Class Products¡± from among goods and services that have the potential of fulfilling World-Class product requirements within the next three years.
Korea¡¯s best-quality products top the list in a number of different global markets, including memory semiconductors, seawater desalination equipment, merchant vessels, polyester LM fiber, cycling shoes, refrigerators, electric equipment for ships and half-submerging drilling ships, just to name a few.
For instance, as many as 119 goods manufactured by Korean companies enjoyed the biggest market share in the global market as of the end of 2010.
In addition to the products manufactured by top-notch companies, a lot of Korea¡¯s quality goods are made and supplied by small- and medium-sized enterprises (SMEs), establishing a growing presence in the fiercely competitive world market.
Aiming to further promote these highly rated products and services to buyers and marketers around the world, Korea¡¯s Ministry of Knowledge Economy has since 2001 been awarding them the certification of ¡®World-Class Product¡¯ after rigorous screening processes.
The Ministry of Knowledge Economy recently awarded the certification of ¡®World-Class Product¡¯ to 58 items in December 2010. They include 32 World-Class Products, which rank in the top five in the global market and 26 Next- Generation World-Class Products, which have the potential of fulfilling World-Class product requirements within the next three years.
So far, a total of 553 products have been selected as World-Class Products or Next- Generation World-Class Products among candidate goods that meet the requirements as of 2011. Korea¡¯s Buyers Guide, in conjunction with the Korean government and KOTRA, describes and recommends these Korean World-Class Products to buyers and marketers, encouraging them to identify Korean products with superior quality.
World Class Products Guarantee Top Quality
World-Class Products are selected from among goods and services whose total global market size is greater than US$50 million, with exports of over US$5 million. The candidate must also be ranked in the top five in the global market, and undergo a strict screening process led by the World-Class Product Review Committee (chaired by the Vice Minister of Knowledge Economy) based on the marketability and technological strengths of the candidate products.
In addition to Korea¡¯s World-Class Products, the Ministry of Knowledge Economy selects a separate group of products labeled ¡°Korea¡¯s Next Generation World-Class Products¡± from among goods and services that have the potential of fulfilling World-Class product requirements within the next three years.
The selection process is overseen by the World-Class product Review Committee, headed by the Vice Minister of Knowledge Economy, under the same careful and rigorous screening process.
Additionally, the Next Generation World-Class Products include those with proven technological potential in future growth industries, recipients of various new technology and product awards and certifications, and goods and services selected from among those recommended by industry associations and agencies with proven commercial and technological advantages. Next Generation World-Class Products showcase items that promise future market dominance with the same high level of quality and reliability exhibited by Korea¡¯s World-Class Products.
Strict and Objective Selection and Management
The selection process for Korea¡¯s World-Class Products is wide-ranging and extensive, and is conducted with strict objectivity and fairness. The selection committee, chaired by the Vice Minister of Knowledge Economy, is supported by a large number of relevant agencies and organizations that provide professional and technical advice for the selection process.
These agencies and organizations include practically every relevant industry association and agency in Korea, with the number of organizations participating in the selection process increasing each year.
In addition, products previously selected as World-Class products may have their status revoked if found in subsequent reviews to be failing to meet the rigorous selection standards, as part of continuing efforts to create an even more meticulous screening process.
The quality and reliability of Korea¡¯s World-Class Products are thus guaranteed by the Korean government, in addition to having already proven their high acceptance in global markets. They represent the pinnacle of Korean technology, engineering and production, and any buyers purchasing Korea¡¯s World-Class products can be confident of their quality, reliability, technological capabilities and marketability.
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Hangover Recovery Dinks
With an overwhelming 52% of market share, CJ Heot-gae Condition is the leading
hangover recovery drink in Korea where the market for hangover recovery drinks is
projected to exceed 234 billion won this year.
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Outdoor Footwear
TrekSta is a manufacturer of technical outdoor footwear.
Particularly, owing to its unparalleled high-quality products
and constant innovation, the company¡¯s outdoor footwear has
gained great customer confidence and high brand recognition
among local consumers. Currently, TrekSta outdoor footwear
sells in more than 20 countries around the world.
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Body Composition Analyzer
Jawon Medical Co., Ltd. is a leading medical device manufacturer of Body Composition
Analyzer and Blood Pressure Monitor in Korea.
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Heat-resistant Tempered Glass Airtight Container
With a 45-year history, Sam Kwang Glass Co., Ltd. is the leader in the field of
manufacturing bottle products, securing a 22 percent share of the Korean
market. Sam Kwang has provided major beverage, liquor and food makers with
bottle products tailored to their specific requirements.
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Plastic Bag Sealing Device ¡°Anylock¡±
Established in 1995, Daesung Hi-Tech Co., Ltd. is a manufacturer
and exporter of various machine tool and semiconductor machine
components as well as unit assemblies. As part of its attempt to
diversify the business, the company has developed an innovative
bag sealing device called ¡°Anylock¡± in Year 2004.
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Silk Fabric Wallpaper
KIM¡¯S SILK is a manufacturer that specialize in silkmaterials
and has the production system (spinning, dyeing,
weaving, finishing, design and processing) to manufacture
silk fabrics from yarns to finished products with ISO
9001:2000 management system along with multiple patents
based on experiences and materials.
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Vegetable Juice
Woongjin Foods Co., Ltd. is a specialist in production of
health beverages that has produced a wide range of bestselling
beverages in Korea. They include Morning Rice,
which is made from 100% home-grown white and brown
rice, Green Plum, the first plum juice ever made in Korea,
Jayeoneun, which boasts the largest share of the country¡¯s
vegetable juice market, Sky Bori, which is made from 100%
homegrown grains and Oksusu Suyeom Tea, which is made
from corn silk.
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Slow Squeezing Juicer
With the patented ¡®Slow Squeezing¡¯ technology and userfriendly
design, Hurom LS sets a new standard of juicer,
building a strong reputation in the field in Korea and in many
other countries such as the United States, Japan, China and in
Europe.
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Infrared Thermometer
HuBDIC¡¯s non-contact infrared thermometer (FS-100) provides comfortable
way of taking body temperature of child or baby in just 2-3 seconds with a light
stroke across the forehead. The simple one-handed operation takes temperature
easily and accurately during scanning for reliable result. It can measure the body
temperature 40 times per second during scanning. It is very comfortable and easy
to use; there is no need for Probe filter.
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Fibrous Bands
Adhesions are fibrous bands (scar) that form abnormally between
two tissues or organs while generally incision is undergone in our
body after post operations or surgeries including pelvic and C-section
etc.
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