Herald is awarding the ‘Innovation Winner’ to discover and encourage small and medium-sized enterprises that will become the source of next-generation growth engines and the leaders in the creation of advanced Korea. This award was held on the basis of the idea that the discovery of future industries is the root of the national economy for the continuous growth of the Korean economy amid various adverse economic conditions such as a strong dollar, war, and rising raw material prices. It is supported by Ministry of Trade, Industry and Energy, Ministry of SMEs and Startups, KOSME, Korea Commission for Corporate Partnership, and National Assembly Trade, Industry, Energy, SMEs and Startups Committee.

It is managed by monthly magazine PowerKorea. The judging went through a preliminary investigation period of about two months, and the winners were determined after a rigorous screening process through the submission of documents and a detailed evaluation by the jury for each category on ∼Corporate management ∼R&D ∼Productivity and quality improvement ∼Corporate performance and value creation. Scores were awarded in a way that a total of 500 points was given to 4 areas and 12 items.

Final 50 companies and people 

A total of 420 companies applied for this award, and the final 50 winners were honored with the award. Some of the notable winners are: Korea Power Exchange, Eco Farm City, Come In Wash, Woodeumjee Farm, KOLEES, Incredible, Kabojung, Neuropack and Jeollanam-do Heart Health Healing Center. The event was held in strict compliance with the government’s COVID-19 quarantine guidelines. Announcer Kim Se-young hosted the concert, Sensation MS CEO Seung-jae Lee performed the performance, and tenor Choi Yong-ho and soprano Han Song-i performed a congratulatory performance. Choi Yong-ho and Han Song-i received a special award for their contribution to popularizing classical music. 

Professor Kim Hyung-wook of Hongik University, the head of the judge said “I would like to congratulate all those who have been selected, and I hope that you will do your best in the future as a foundation stone that will become a growth engine for the next-generation Korean economy.”