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Daegu city selected 26 global hidden champions and local rising stars

According to Yonhap News,

26 small businesses headquartered in the city of Daegu were newly selected as what’s called, “global hidden champions” and “local rising stars”. Finding these promising companies is part of the SME agecy’s main projects to discover and help small enterprises with full potential grow into bigger, competent businesses.

According to the city officials and Daegu Technopark, 15 and 11 local businesses put their names on the list of local rising stars and global hidden champions, respectively, for all the coronavirus turmoil spreading out since early this Spring.

The rising stars this year showed an average of KRW 16.5 billion in sales with 44 employees. The selectees’ three-year CAGR was found to be 12.7 percent with the average job growth rate of 9.1 percent.

An average sales figure of 11 hidden champions was KRW 31.6 billion, with 102 employees. They reached CAGR of 6.8 percent, export growth rate of 20.8 percent and job growth rate of 1.7 percent.

Once chosen, they’re entitled to enjoy a multitude of financial and administrative benefits such as biz-coaching services by each development stage and customized programs.

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Source: Yonhap News (Jun. 9 , 2020)

** This article was translated from Korean.