Media & PR
Subject Daegu City Fosters Star Companies to Lead Daegu's Economy - Designation Ceremony Held
Date Of Write 2022-11-07



The city of Daegu, Daegu Technopark, and Daegu Creative Economy Innovation Center newly selected 7 Star Companies, 13 Pre-Star Companies, and 5 Star Venture Companies set to illuminate Daegu's economy for the next 50 years, and held the '2022 New Star Company Designation Ceremony' on the 7th at the Grand Auditorium of Daegu City Hall's Sanggyeok Annex.

The event was attended by approximately 60 people, including Daegu Mayor Hong Joon-pyo, Daegu Technopark Director Do Geon-woo, Daegu Creative Economy Innovation Center Director Lee Jae-il, and 24 representatives from the selected companies.

The newly selected (Pre-)Star Companies and Star Venture Companies were finalized through a highly competitive multi-stage evaluation process — including written, presentation, on-site, and comprehensive assessments by expert committees — following recruitment announcements that began in May and February respectively. The newly selected Star Companies are: CL Co., Ltd. (ABB), Bluecen Co., Ltd. (machinery), KORYO CABLE Co., Ltd., Bando Co., Ltd., Mirae Advanced Materials Co., Ltd. (foundry & materials), CGF Co., Ltd., and Yeongpung Agricultural Corporation Co., Ltd. (urban industries). Based on 2021 figures, these companies recorded an average revenue of ₩31.9 billion, an average workforce of 60 employees, a 3-year compound annual growth rate (CAGR) of 45.9%, and an employment growth rate of 35.9%.

The newly selected Pre-Star Companies are: Mocon Co., Ltd. (robotics), A-SYS Technology Co., Ltd. (semiconductors), Denstar Co., Ltd., MR Innovation Co., Ltd., JM Biotech Co., Ltd., TG Biotech Co., Ltd. (healthcare), DG Entertainment Co., Ltd., Dream Ace Co., Ltd., ALI Co., Ltd., Insol M&T Co., Ltd. (ABB), Branded Industry Co., Ltd., Giclo Co., Ltd. (foundry & materials), and Shinsung Hitech Co., Ltd. (future mobility). Based on 2021 figures, average revenue was ₩4.4 billion, average workforce was 21 employees, 3-year CAGR was 62.9%, and employment growth rate was 52.5%.



The newly selected Star Venture Companies are: Bringco Co., Ltd., ALI Co., Ltd. (ABB), Blossom Cloud Co., Ltd., Conext Co., Ltd. (healthcare), and Power Player Co., Ltd. (urban industries). Based on 2021 figures, average revenue was approximately ₩3.7 billion, average workforce was 29 employees, and revenue CAGR was 338%, demonstrating healthy growth momentum.

Daegu City has established a 'growth ladder' enterprise development system — Star Venture ¡æ Pre-Star ¡æ Star Company — to support business growth and stimulate regional economic revitalization. Now in its 16th year since launching in 2007, the Daegu Star Company Development Program is the city's flagship enterprise nurturing policy, discovering promising companies with growth potential and innovation capabilities and scaling them up into globally competitive SMEs through tailored support at each growth stage.

In particular, under the 8th term of elected leadership, the city is focused on securing growth engines for Daegu's next 50 years through: ¡ã building a co-growth ecosystem via value chain development among Star Companies, ¡ã nurturing Daegu-type unicorn companies with high corporate value and growth potential, and ¡ã proactively responding to industrial restructuring through business reorganization support and enhanced ESG consulting.

Mirae Advanced Materials CEO Yoon Seung-hwan stated, "Along with being selected as a Star Company, we will leverage Daegu's next-generation battery industry development policy to accelerate next-generation technology development and become a leading company in battery material components."

Mayor Hong Joon-pyo remarked, "The growth of SMEs is directly linked to regional economic development and will serve as the pivotal driving force leading Daegu's economy for the next 50 years. We will spare no effort in actively supporting these companies to grow into powerful world-class enterprises beyond the region."

Reporter Park No-bong (Daegu) | bundopark