Korean-German jury to award the most innovative companies of 2020 in Korea

MOTIE and MSS to officially support the KGCCI Innovation Awards

Companies of all sizes and industries can apply until May 31st, 2020

Female entrepreneurs will be honored in the new category ‘Women in Innovation’

The Korean-German Chamber of Commerce and Industry (KGCCI) is calling for innovative companies located in Korea to apply for the ‘6th KGCCI Innovation Awards’ until May 31st, 2020.

This year, the ‘KGCCI Innovation Awards’ are officially supported by the Korean Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of SMEs and Startups (MSS). With the support from these two South Korean ministries, winner companies will receive even stronger public recognition for their innovations. The ‘KGCCI Innovation Awards’ were initiated in 2015 to support companies that create value for the Korean market through innovative products, processes and technologies as well as to promote new business cooperations between Korea and Germany.

Companies of all industries and sizes located in Korea can apply for the ‘6th KGCCI Innovation Awards’ by submitting their applications through the official awards homepage. Moreover, not only innovations made in Korea but also innovations made in Germany that have add value in the Korean market can be submitted for the awards.

There are four categories that applicants can directly apply or be recommended for: △Innovation in Business (New products, processes, organizational development, services, and business models), △Innovation in Sustainability (Green technologies, Workforce development), △Innovation in Digitalization (Digital technologies that alter production, services, processes, and business models), and △Women in Innovation (Innovation created by female entrepreneurs or innovators). This year, ‘Women in Innovation’ is a newly introduced category to honor and celebrate female innovators in business.

The applications of the ‘KGCCI Innovation Awards’ will be evaluated by a Korean-German jury from business, academia, and research. Selection criteria are degree of innovation, proven in the market, benefit for company and benefit for society. The winners will be awarded at the awards ceremony in the presence of distinguished guests from business and politics on September 11th, 2020, in Seoul. Furthermore, through media exposure and KGCCI’s strong business network and support, the winners will be able to boost their domestic and global business endeavors. Additionally, non-member winner companies will enjoy one year of free KGCCI membership to leverage their exposure towards German companies and Germany.

"Especially in times of COVID-19, it becomes evident that innovations are the motors to drive and determine the future of a company and a nation’s economy. We look forward to receiving many applications for this year’s KGCCI Innovation Awards to be presented to the Korean and German public", said Barbara Zollmann, President & CEO of KGCCI.

The entire application procedure is free of charge and companies can apply regardless of a KGCCI membership. Further details are available on the KGGCI Innovation Awards website: www.innovation-award.kr.

About the Korean-German Chamber of Commerce and Industry

The Korean-German Chamber of Commerce and Industry (KGCCI) is the second largest foreign chamber of commerce in Korea and has been promoting the economic relations between the Federal Republic of Germany and the Republic of Korea since its foundation in 1981. With the steady rise in bilateral trade to over 30.5 bil. USD and German investments of more than 14 bil. USD in Korea, the activities of KGCCI and the demand for its professional services have increased accordingly. This is reflected by the growing membership of around 500 members and a full-time staff of 22 multilingual professionals.

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