The Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman Lee Duk-hoon, “Korea Eximbank”) announced on April 24 that the bank held ‘the second Hidden Champion Academy’ for 25 employees of 20 hidden champion candidates such as DMS, at the bank’s HR Development Center.
The second ‘Hidden Champion Academy’, which was first launched November last year, will go on for two days.
Conceived as part of a program to help SME and medium-large exporters train and develop talent, the Academy passed on expert knowledge regarding how to handle export-import transactions, overseas investment, HR, and taxes to working-level staff at Hidden Champion candidates.
Reflecting recent economic concerns, the Academy offered a more comprehensive course on foreign exchange risk management and new courses on the implications of changes in the wage system - issues of particular relevance to SME and medium-large exporters.
Korea Eximbank is shifting the focus of its Hidden Champion Initiative from selecting candidates to seriously propelling their growth into Korean Hidden Champions, starting this year.
The bank will provide financial services to aid the global expansion efforts of the candidates and non-financial services such as recruitment and training support, legal advice, and importer credit investigation.
Korean Hidden Champions are globally competitive upper medium-sized companies that export more than USD 300 million annually and whose global market shares rank within the top five in their respective sectors; or whose sales revenues exceed KRW 1trillion, of which more than 50% consists of exports.
Korea Eximbank launched the Korean Hidden Champion Initiative in October 2009 with the aim of incubating smaller exporters with global competitiveness. It was the first program of its kind in Korea.
In four years since its launch, 15 Korean Hidden Champions (7 companies in 2012, 8 companies in 2013) have been certified by the bank.
Having been selected as Hidden Champion candidates, a total of 301 Korean SMEs and medium-large companies are benefiting from the bank’s various financial and non-financial services.
