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[Guest Report] Kogas recognized for win-win cooperation

Nov 26,2019
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Officials from the Korea Gas Corporation hold a meeting with partnering corporations. [KOREA GAS CORPORATION]
The Korea Gas Corporation (Kogas) received an award from the Ministry of SMEs and Startups for win-win cooperation division during an event hosted by the Korea Commission for Corporate Partnership (KCCP) on Nov. 6.

Kogas was recognized for the role it has played as a start-up incubator, the support it gives to small- and medium-sized enterprises (SMEs) and its introduction of a platform to support the creation of technology products.

Through cooperation with SMEs, Kogas is aiming to strengthen its technological competitiveness.

Kogas and the Industrial Bank of Korea have also created a 140 billion won ($119 million) fund to support SMEs.

The fund, established in 2015, has an exemption rate of up to 2.7 percent to lessen the burden for companies.

Roughly 380 Korean SMEs have already benefited from the fund, totaling about 100 billion won in support.

Kogas also supports SMEs to expand into foreign markets and to obtain patents, as well as offering its own consulting service.

Regulations on SMEs participating in bids are to be relaxed, and the recent focus on using domestically made goods and materials is expected to enhance the quality and competitiveness of SMEs.

“Without the growth of SMEs and partners, Kogas does not have any assurance of sustainable growth,” said Chae Hee-bong, CEO of Kogas. “Continued win-win growth and cooperation with SMEs is expected in the future. By doing so, Kogas will be able to be the front-runner in realizing social value.”

Through diverse communication channels, Kogas is hoping to carry out cooperation with SMEs and to show effective positive sustainable growth.

By Kim Seung-jun [kim.seungjun@joongang.co.kr]