Process innovation and technology drive defense export growth

Ryu Sang-woo, CEO of Poongsan F&S Co. and recipient of the Silver Tower Order of Industrial Service Merit, led the company to a 375 percent increase in sales over five years through process innovation and technology development. Ryu is also credited with driving defense exports and contributing to South Korea's rise as one of the world's top five defense powers.

Since taking office in 2015, Ryu has spearheaded equipment management and manufacturing process automation. As a result, cumulative productivity rose 58.6 percent, and quality innovation maximized product reliability. The company also earned recognition for investing 7 percent of annual sales in research and development, enabling the domestic production of fuzes and precision measuring instruments — key components of ammunition. Alongside this, Poongsan F&S secured proprietary processing technology for core components of next-generation small modular reactors.

Particularly notable was the development of export-grade fuzes and the construction of a second factory in Gwangseok-myeon, Nonsan, South Chungcheong Province, backed by 50 billion won ($37.4 million) in investment to expand the production base. Newly developed products now account for more than 60 percent of sales. Over the past five years, sales grew 375 percent and the export share rose to 78 percent. Ryu also received credit for fostering a cooperative labor-management culture, sustaining community support, and creating youth employment through industry-academia partnerships.

Founded in 1973, Poongsan F&S is a global defense company headquartered in Eunjin-myeon, Nonsan. Its main products include fuzes used in rockets, howitzers, mortars and underwater weapons; high-precision acceleration sensors for submarines; and precision components for nuclear fuel rod fixtures used in nuclear power plants.