--This is the Korean government’s highest honor in the Corporate Innovation category.
--President Choe presents innovation best practices.

The Korea Chamber of Commerce & Industry and The JoongAng Daily Newspaper co-host the annual Corporate Innovation Awards with the support of the Ministry of Commerce Industry & Energy. This year, Doosan Infracore came away with the top prize.
In 2005, the company announced its intention to rank among the world’s Top 5 in the infrastructure support business within ten years. The “Integrated Operation Method” was then adopted to link all processes, including design, procurement, production and quality control. That program has reaped noteworthy financial results as well as various intangible benefits such as greater worker awareness of the need for change and improved innovativeness. The improvements within the company have been evaluated highly by outside observers as well, leading to the selection of Doosan Infracore for this year’s Presidential Award.


The award presentation took place at the Korea Chamber of Commerce & Industry in Seoul on November 28, and Doosan Infracore President & CEO Choe Sung-chul was there to receive the award certificate and plaque. He was accompanied by Vice President & COO Kim Woong-bum, Sr. Managing Dir. & Corporate Planning Chief Lee Jae-yoon, Managing Dir. Kim Gwang-soo and Managing Dir. Byun Chung-hei.

After the awards ceremony, Pres. Choe took part in the best practices briefings, where he explained the main activities underway and strategies followed for Doosan Infracore to realize its corporate vision. He told the audience:
“We began our management innovation drive in 2005, and tangible results were seen within two years. This effort has played an important part in our steadily rising sales revenue and operating profit. We’ve installed an operation system to make us one of the world’s top five in terms of production and quality. At the same time, our competencies are improving and the groundwork has been laid for achieving quality that is second to none. We continue to solidify the integrated innovation system here in Korea while expanding its application to our overseas operations. Our ultimate goal is to achieve “global operational excellence.”


The Corporate Innovation Awards are the most prestigious honors of their kind in Korea. The event was inaugurated in 1994 to praise and encourage innovation at Korean companies. It is also an opportunity to identify and promulgate successful innovation approaches. This year marks the fourteenth edition of the Awards.
Award candidates are evaluated according to six different criteria—background and purpose, implementation particulars and organization, company-wide participation, cost cutting and revenue enhancement, integration and future action plans. The judges’ panel, which consists of more than ten experts from various disciplines, screens documents, tours candidate company sites and performs an in-depth inspection before determining the award winners.