PyungHwa Industrial has been officially selected as a beneficiary of the “World Class 300 Project” and the “Global Specialized Enterprise Development Program,” initiatives designed to foster Korea’s next generation of export-driven global leaders (hereinafter referred to as World Class Companies).

A total of 50 companies nationwide were selected this year, and the certificate award ceremony was held on June 10 in Seoul.

Launched in 2011, the World Class 300 Project is a government-led initiative aimed at nurturing high-potential small and mid-sized enterprises into global hidden champions through collaboration among government agencies, support institutions, and private financial organizations. Candidate companies are required to submit comprehensive growth strategy roadmaps covering technology, marketing, and management innovation, and are selected through a rigorous evaluation of feasibility and growth potential.

The Small and Medium Business Administration and the Korea Institute for Advancement of Technology organized a panel of experts from industry, academia, and research institutes to conduct a 50-day, four-stage in-depth evaluation process beginning in late April. The process included eligibility screening, sectoral evaluation, on-site due diligence and reputation verification, and a final comprehensive assessment.

Selected companies are eligible to participate in dedicated and linked support programs for up to 10 years to accelerate their growth into globally competitive hidden champions.

PyungHwa Industrial presented the vision “2020 NVH Global Top 5” as part of its World Class 300 application, targeting entry into the global top five in the anti-vibration (NVH) sector. To achieve this goal, the company established concrete performance targets, including KRW 692.7 billion in sales, a 32% direct export growth rate, and a 36% export ratio.

During the evaluation process, PyungHwa Industrial received particularly strong recognition for the growth potential of its five future strategic technologies.

These five new growth areas include four advanced anti-vibration technologies—Active Mounts, Active Dampers, Air Suspension, and Airless Tires—as well as Extruded Silicone Hoses in the hose division. The company presented a comprehensive growth plan outlining its current technological capabilities, future R&D objectives, expected performance benefits, and global marketing strategies, earning high praise from the evaluation committee.

Notably, during the on-site inspection, evaluators were given the opportunity to experience firsthand a vehicle equipped with the company’s Active Mount technology. The live demonstration reinforced confidence in the feasibility of the company’s vision and growth roadmap.

At the certificate award ceremony, President Kim Dong-kwan stated in an interview that he was grateful for the opportunity to challenge global markets as a representative high-potential company of Korea and expressed his commitment to achieving PyungHwa Industrial’s vision and strategic goals at the earliest possible time.

Among the 50 companies selected nationwide in 2016, five were based in Daegu, including PyungHwa Industrial, Korea OSG, Daesung Hi-Tech, Dijen, and TSR.