S. Korea names 58 new products as world-beating quality

SEOUL, Dec. 14 (Yonhap) -- South Korea has designated an additional 58 items
manufactured by local companies as globally competitive products, a move which
will see their producers secure "comprehensive" government support, officials
said Monday.
According to the Ministry of Knowledge Economy, the 58 products were selected
based on the assessment that their market share is within the global top five and
growth potential is high enough to spearhead the world market in the foreseeable
future.
Transportation-related machines and devices came first with 13 items included on
the list, followed by 10 medical products, nine semiconductor and electronics
parts and eight biochemical products produced both by local small-sized and large
companies, the ministry said.
KECC, Woongjin Coway and Cas were among the small-sized companies whose products
were included on the list for the first time. LG Chem and Hyundai Heavy
Industries also saw their items included on the list, according to the report.
"The government will provide the companies with comprehensive support ranging
from technology and design to marketing," Kim Young-hak, vice knowledge economy
minister, told representatives from a group of firms gathered to receive official
government recognition.
With the new selection, the government also reviewed previously-chosen world's
No. 1 products and decided to exclude 69 items from the list, the ministry said.
As a result, the total number of products on the list declined from 595 to 584,
it added.
kokobj@yna.co.kr
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