The Ministry of SMEs and Startups announced Sunday that it has newly designated 300 businesses — 150 century stores and 150 century small manufacturers — under this year's "century small business" program.
The new designations bring the nationwide total to 2,598 century small businesses, comprising 1,545 century stores and 1,053 century small manufacturers.
The century store designation targets small business owners who have run restaurants or wholesale and retail operations for 30 or more years and built a trusted reputation in their communities. The century small manufacturer designation applies to small manufacturers who have sustained a craft-based production business for at least 15 years, preserving skilled techniques and artisanal spirit. The Ministry of SMEs and Startups has been identifying and supporting long-running small businesses of distinction since 2018.
This year, 747 businesses applied nationwide, producing a competition ratio of roughly 2.5 to 1. Of the 300 selected, 188 — or 62.7 percent — were based outside Greater Seoul. Applicants were evaluated through document screening, on-site assessments and a selection committee review, with criteria covering not only years in operation but also management sustainability, product and service competitiveness, and contributions to the local community.
Newly designated businesses receive a certified plaque and a storyboard documenting the company's history and philosophy. They also become eligible for a range of benefits, including preferential access to small business policy financing, support under the Strong Small Business Growth program, and bonus points when applying for small manufacturer support projects.
The ministry is also expanding public-private partnerships to raise the profile of the century small business brand. It plans to work with Lotte Wellfood, Korea Expressway Corporation and Korail Distribution to develop dedicated retail spaces, secure listings on online and offline platforms, and organize special exhibitions tied to the government's Donghang Festival, broadening sales channels.
Notable designees this year include Angang Restaurant in Nam-gu, Busan, which has operated a cast-iron lid samgyeopsal restaurant for more than 30 years while carrying out community donation activities; Jeonju Bokjip in Daejeon, a puffer fish specialty restaurant now in its third generation; and Haeinbang in Hanam, Gyeonggi Province, which recreates Three Kingdoms-era metalcraft techniques in a contemporary style. Also named were Dongju Salt Farm in Ansan, Gyeonggi Province, which has maintained traditional sun-dried salt production methods since 1953, and Misillan in Gokseong, South Jeolla Province, a rice variety research operation that has been expanding its own online store and exports.
The century small business development program is becoming established as a policy aimed at strengthening the long-term sustainability of regional economies. Amid growing concerns about aging populations and the decline of rural communities, the initiative seeks to cultivate long-running small businesses with accumulated expertise as representative regional brands — linking them to tourism resources and spreading them as success models for family business succession and youth entrepreneurship. The ministry plans to deepen collaboration with private retail companies to expand consumer touchpoints and strengthen support for overseas sales channels.
"Century small businesses are not simply old companies — they are exemplary success models that have led regional economies on the strength of experience, skills and trust built over many years," said Lee Byeong-gwon, second vice minister of SMEs and Startups. "We will continue to strengthen support for sales channel expansion, promotion and policy linkages to underpin their sustainable growth."
boo@heraldcorp.com
