By Lee Hyo-sik

The Korean-German Chamber of Commerce and Industry (KGCCI) is accepting applications from Korean and German companies for its first “KGCCI Innovation Awards.”

Those interested in showcasing their innovative ideas, concepts and products are strongly encouraged to file an application, the KGCCI said Friday. The association representing the interests of German companies operating in Korea will receive award applications through June 15.

The winners will be notified by the end of July and receive their awards at the KGCCI Innovation Awards Gala, which will be held at the Floating Islands on the Han River on Sept. 5

The awardees will be selected in three categories: innovation in business, including products, processes, organization, distribution, marketing and sales, entrepreneurship, market development and services innovation in green technologies, such as environmental and resources efficiency and innovation in workforce development, such as activities, sustainability, inclusiveness and personal development.

“The innovation awards were established to raise awareness of innovative solutions and foster discussion and cooperation between Korean and German companies,” a KGCCI spokesman said. “Innovation is a crucial topic in Korea, given the Korean government’s active promotion of the creative economy. German companies are admired for their technological aancement, whereas Korean companies are known for their strength in implementation and perfection of existing concepts, combined with creative designs and content. We would like to foster innovation across all industrial sectors.”

A group of judges, consisting of eight Korean and German specialists in the field of science and business innovation, will make their evaluation based on four criteria: degree of innovation, success in the market, positive influence on the company and the benefit to society.

For more information, call (02)3780-4659 or visit the KGCCI website (http:koreaahk.deeventskgcci-innovation-awards).

SOURCE: The Korea Times