The Gyeongnam Regional Small and Medium Venture Business Administration selected Smart Machine Tools Korea as a target company for the 2023 ‘Global Small Giants 1000+ Project’. At the award ceremony held at the Gyeongnam Techno Park auditorium, Smart Machine Tools Korea, a Korean automatic lathe manufacturer, received attention as this year's best small company as one of 60 companies in the Gyeongnam region.

Korea's Ministry of SMEs and Startups (MSS) Gyeongnam Regional Small and Medium Venture Business Office is focusing on promoting the entry of small and medium-sized enterprises in the province into overseas markets and fostering global leading companies through this project. The 'Global Small Giants 1000+ Project' is an integrated system that designates global small businesses, promising export small and medium-sized enterprises, export dream companies, etc. Through this, companies are selected through appropriate selection criteria and transparent procedures.

91 export companies in the Gyeongnam region participated in this project, showing a competition rate of 1.52 to 1, and 313 domestic and export small and medium-sized companies in the Gyeongnam region applied for the first round of participation in the export voucher project, recording a competition rate of 2.45 to 1.

By industry, shipbuilding equipment, automobiles, and machine tool parts manufacturing were the largest, while several metal processing manufacturing, electronic components, and material/chemical manufacturing industries were also designated. The average sales is KRW 19.7 billion, and the average export amount is KRW 9.21 million, accounting for 54.9% of total exports compared to sales, showing excellent technological capabilities to dominate the global market.

Choi Yeol-soo, head of the Gyeongnam Small and Medium Business Administration, said, “We will spare no effort in supporting the growth of the company by collaborating with the government and supporting organizations so that it can become an example of globalization for small and medium-sized businesses in the Gyeongnam region.”

Smart Machine Tools Korea, a Korean automatic lathe manufacturer, won this award with its innovative product lineup in the automatic lathe field. The company plans to continue to build a stronger position in the global market and contribute to industrial development through technological prowess and innovation.