Over 14,000 vote in 'Company of the Year' co-prosperity poll; LG Household, KB Financial rank among top

More than 14,000 people cast ballots in the public vote for this year's Co-prosperity Company of the Year Award. LG Household, KB Financial, Korea Hydro & Nuclear Power, Korea Electric Power Corporation and Korea Midland Power ranked among the top five in the organizational category.

The Ministry of SMEs and Startups said Wednesday that 14,404 people participated in the public vote for the Co-prosperity Company of the Year Award, casting 86,424 votes in all. The voting ran from Aug. 5 to Aug. 13.

The award recognizes individuals and organizations that have contributed to mutual growth and the spread of cooperative partnerships between large and small businesses. The ministry has presented government commendations to deserving individuals and companies each year since 2004 at a ceremony marking Co-prosperity Week.

This year's vote covered 15 individual candidates and 15 organizational candidates. Each voter could cast up to three votes in each category, for a maximum of six votes total.

In the individual category, the top five vote-getters were Park Sang-won, a senior manager at Kia; Jang Cheol-ung, a vice president at Samsung Display; Wang Min-seok, a division head at Korea Western Power; Kim Ki-hong, a department head at Korea Aerospace Industries (KAI); and Jeong Hui-seop, an executive director at Hyundai Motor Company.

The five were recognized for pursuing joint technology development with partner companies, expanding raw materials procurement, strengthening supply chain competitiveness and supporting employment stability, among other cooperative initiatives.

In the organizational category, LG Household, KB Financial, Korea Hydro & Nuclear Power, Korea Electric Power Corporation and Korea Midland Power claimed the top five spots. The companies and public institutions were credited for achievements including the localization of technology and products, joint overseas expansion, operating price-linked payment systems, and providing policy funding support and fund contributions.

A distinctive feature of this year's award is that the public vote accounts for half the score used to select final candidates — alongside assessments by government officials and experts. However, the vote results do not directly determine the final winners. The public vote contributes 50 points toward the candidate selection process, with another 50 points coming from a panel of public reviewers. The combined scores determine the final candidates and the level of commendation. The selections then go through a merit review committee before the final winners are announced at the Co-prosperity Week ceremony on Nov. 26.

Lee Eun-cheong, director general for co-prosperity cooperation policy at the Ministry of SMEs and Startups, said the vote was meaningful as a platform for co-prosperity built together by businesses and the public. "We hope this result serves as a meaningful milestone in spreading a culture of cooperative partnership across society," Lee said.