Samsung Electronics and Yuhan Kimberly Win Grand Prize in “Most Respected Company” Contest

Samsung Electronics Co. and Yuhan Kimberly Ltd. were awarded the grand prize in the “2005 30 Most Respected Korean Companies” competition co-sponsored by IBM BCS Korea and the Dong-A Ilbo.

The two top awardees were followed by POSCO, Samsung Fire and Marine Insurance Co. and the Hyundai Motor Company. Pusan Bank, LG Electronics, Kyobo Life Insurance Co., Amorepacific Corporation and LG Chem Ltd. won silver medals.

Twenty other companies, including KT, Samsung Life Insurance Co., Halla Climate Control Corporation, Yuhan Corporation, SK Telecom, and Hyundai Heavy Industries Co. were not among the top 10. Still, they placed between 11th and 30th on the list.

This year, the Dong-A Ilbo and IBM BCS Korea examined 60 major domestic businesses. They were graded based on five aspects of business operations: shareholders, employees, customer, society, and the environment. Thirty important indicators of core achievements were considered before the list of “2005 30 Most Respected Korean Companies” was announced on June 26.

In each aspect of business, Samsung Electronics came in first in shareholders and the environment, Yuhan Kimberly in employees and society, and Samsung Fire and Marine Insurance in customer.

The event was first conceived last year by the Dong-A Ilbo and IBM BCS Korea, the world-famous consulting firm’s Korean branch. This year marks the second anniversary of the award.

Last year’s priority in selecting the most respected firms was aggregate value of listed stock on the Korea Exchange. This year, the event was opened up to KOSDAQ-listed and unlisted companies. As a result, AhnLab Inc. and Asiana Airlines, KOSDAQ-listed firms, and Yuhan Kimberly, Samsung Life Insurance and Kyobo Life Insurance, which are unlisted but scheduled to participate in the KOSDAQ, were among the 30 most respected companies.

Last year, marks were put together, and the entire ranking and marks were made public. This year, out of the 30 companies picked there were two grand prize winners followed by three gold medals, five silver medals, and 20 respected companies (there was no ranking among these 20).

The adjustment was made after a disagreement arose among the jurors. They argued whether it was in line with the event itself to put respected companies in order from one to 30.

Young-Hae Choi Hyun-Jin Park yhchoi65@donga.com witness@donga.com