고려전선

"A Company's Goal Is Not Profit, But Longevity."

No matter how much profit a company generates, if it cannot endure, it will ultimately be branded a failure. A company that survives f____or a long time is a successful company. Long-lived companies possess a distinctive 'DNA of success.'

So how many companies in Daegu have been thriving for 30 years or more?

The Daegu Chamber of Commerce and the city of Daegu recently selected 68 SMEs that have survived for 30 or more years while employing 30 or more people — the so-called 'Daegu 3030 Companies.' These include companies that have grown while achieving longevity, companies that have endured for decades to fulfill their social responsibilities even as business conditions and profitability deteriorated, and companies where second-generation managers have taken over and are working hard to create new growth engines.

Lim Kyeong-ho, Head of Research at the Daegu Chamber of Commerce, noted, "As company history shows, surviving for 30 or more years after founding is no easy feat. Overcoming growing pains at each stage of development while breathing in step with society can lay the foundation for longevity."

◆The Profile of Daegu's Long-Lived Companies

The oldest among the Daegu 3030 Companies is DMC Co., Ltd. (CEO Choi Jin-sun), a CNC lathe manufacturer that traces its origins to Daegu Heavy Industries in 1944. Daecheol Co., Ltd. (CEO Eom Sang-su) and Namsun Aluminium Co., Ltd. (CEO Im Seon-jin) were founded in the 1940s, while seven companies including Seodo Industries Co., Ltd. (CEO Han Jae-kwon) were established in the 1950s, making them Daegu's representative long-lived companies with over 50 years of history.

The most common sector is machinery, electronics, and materials components, with over 30 companies selected including Ilsin Plastics (1971), Geumyong Machinery (1956), Jeonggyeong Hydraulics (1972), and Korea OSG (1976). Companies closely tied to citizens' daily lives in publishing (Gomundang Printing, Hansung P&I) and apparel manufacturing (Choi Bok-ho Fashion, RICH Apparel, Ukil IDC) were also among those designated.

Most of the 3030 Companies — which have continued for 30 to 60-plus years — are now operated by second-generation managers who have succeeded their founders. Over 50 companies have second-generation managers directly or indirectly involved in management, including BSG (CEO Hong Jong-yun), Geumyong Machinery (CEO Lee Kyeong-mok), Seobang (CEO Seo Jin-nyeong), and Pungguk Distillery (CEO Lee Han-yong).

◆What Is the Secret to Longevity?

Long-lived company CEOs share common characteristics: economic and social dreams and passion.

"Many people started businesses in the knitwear industry in the 1970s, but I'm the only one who has survived to this day — and I think there are a few reasons for that."

Ham Jeong-woong (Chairman of the Korea Dyeing Technology Research Institute), who has managed two companies — Ukil IDC and ADC — for over 30 years, said that if he had focused solely on business prospects and profit, he might have given up on his companies. (His company's workforce has shrunk from around 500 in the 1970s to around 100 today.)

"I always felt strongly that running a business comes with a social responsibility to contribute — that there was work to be done. I had a strong conviction that to leave a 'seed' in society, the company had to survive into the second and third generation."

Chairman Ham reflected that this mindset is likely why he was able to make notable contributions to Daegu's textile industry, including the establishment of the Dyeing Technology Research Institute and the Design Center.

Winning the hearts of employees and partner companies is also a key to longevity.

Geumyong Machinery Co., Ltd., which produces exhaust valves for marine engines, has 210-plus employees and owns 60 company-provided apartments. It sends 15 employees overseas for training each year and provides educational expense support — a level of employee welfare virtually unheard of among SMEs. Through this labor-management harmony, Geumyong Machinery has grown into a solid company generating ₩40 billion annually from marine exhaust valves alone.

Kim Jun-young, General Affairs Manager at the company, said, "Because the CEO provides full support for technology development and employee welfare, employees have no choice but to give their all."

Reporter Lee Chun-su | zapper@msnet.co.kr

▨ Daegu 3030 Companies by Founding Era

▶1940s - DMC (Choi Jin-sun), Daecheol (Eom Sang-su), Namsun Aluminium (Im Seon-jin)

▶1950s - Geumyong Machinery (Lee Kyeong-mok), Taeyang Apparel (Jang Seong-deok), Seodo Industries (Han Jae-kwon), Youngnam Casting (Gwak Dong-gi), Odae Metal (Kim Chang-hyeon), Jeil Pharmaceutical (Kim Seong-ja), Pungguk Distillery (Lee Han-yong)

▶1960s - Korea Fire Equipment Manufacturing (Jeong Su-hyeon), Samsin Needle Industry (Moon Seong-geun), Gomundang Printing (Jang Seon-yun), Paxon (Go Young-ju), Youngshin Towel (Kim Yong-bok), Boguk Electric (Gwak Gi-yeong), BSG (Hong Jong-yun), Geumgang Pipe (Kim Gyeong-su), Shingwang Towel (Lee Young-no), Munmyeong Ace (Moon Myeong-hyeon), Taehwa Dyeing (Kim Tae-yeol), Seobang (Seo Jin-nyeong), Ilgwang (Kim Hong-do)

▶1970s - Hyundai Precision (Hwang Dae-jin), Gyeongil Dyeing (Lee Jin-jeong), Ilsin Plastics (Jeon Dong-geun), Hanyoung (Jeong Mu-jo), Hyeongseol Publishing (Jang Ji-ik), Hansung P&I (Choi Chang-geun), Donghwasa (Lee Sang-un), Shina MPC (Lee Sang-yuk), Taekwang Industries (Park Chang-hyeon), Gyeongbuk Crankshaft (Seo Bong-su), Myeongil Foam Tech (No Seong-yeol), Sinsaeng Industries (Kim Seung-han), Oksan Industries (Shim Jae-ok), Ukil IDC (Ham Jeong-woong), ADC (Ham Jeong-woong), Korea OSG (Jeong Tae-il), Daewon Machinery (Jang Yong-hyeon), Hansung Textile (Park Gwang-jin), Daeho Industries (Lee Hyeon-do), Samwoo Industries (Kim Jae-yeol), Jalman Precision (Park Dong-ju), Samyoung Metal (Park Cheol-seong), Cheonil Gloves (Kim Won-su), Samsung Dyeing (Park Yeong-hui), Geumseong Precision (Kim Jin-jeong), Daehan Dyeing (Kim Hae-su), Jungang Packaging (Park Byeong-chan), Jeonggyeong Hydraulics (Jeon Seong-jong), Namil NPI (Lee Tae-ho), KORYO CABLE (Jeong Jae-cheol), Yuhan Dyeing (Yu Chang-min), Sungan (Park Sang-tae), Choi Bok-ho Fashion (Choi Bok-ho), DME (Kim Su-hak), Widow's Hat Welfare Association (An Mok-dan), Daechang Precision (Jo Gyeong-rae), Hwajeong Tech (Han Bong-gyu), Daegu Special Metals (Lee Sang-tae), Odae Industries (Lee Seong-ung), RICH Apparel (Choi Hye-jeong), Sesin Precision (Lee Ik-jae), Gukje Dyeing (Lee Seung-ju), Bando (Lee Gwang-ok), Daegu Takju Joint 1st Plant (Ryu Chang-hyeon), Dongil Dyeing (Jo Jeong-rae)

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