Medal of Merit for 72 Women Entrepreneurs Day
Ryu Byung-seon (80, female, photo), CEO of Youngdo Velvet, a small and medium-sized company that produces velvet, a high-end fabric, received the Gold Tower Order of Industrial Service Merit on the 10th. This is the credit for growing the company into the worlds No. 1 velvet market share by digging only one well called velvet production for about 60 years after its establishment.
The Ministry of SMEs and Startups and the Korea Women Entrepreneurs Association held a ceremony to commemorate the 23rd Women Entrepreneurs Day at the Small and Medium Business Federation in Yeongdeungpo-gu, Seoul, and awarded medals, medals, and commendations to 72 female entrepreneurs, including CEO Ryu.
Ryu founded Youngdo Velvet with her husband in 1960. At the time, velvet was popular enough to be considered a must-have for a wedding ceremony, but it was very expensive as there were no domestic products. After producing velvet for the first time in Korea, CEO Ryu has been exporting velvet to the world starting with the United States in 1975. Since 2001, it has maintained its No. 1 position in global velvet market share. Currently, 75% of sales come from exports.
Lee Yong-suk, CEO of 3A, an aluminum wire manufacturing company, and Kim Jeong-lim, CEO of BnA Service, a security and beautification service company, received the Industrial Medal on the same day.
Founded in 1999, CEO Lee has localized aluminum parts for automobiles through continuous research and development, and is preparing for export this year.
CEO Kim was on the list of winners for his contribution to creating local jobs, including hiring 1,624 people last year.
Reporter Kim Ho-gyeong kimhk@donga.com
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