Huneed Technologies has been named the Presidential Prize winner at the 2018 National Productivity Awards, organized by the Ministry of Trade, Industry, and Energy (MOTIE). The event honors excellence in productivity, innovation, and economic impact, and is the most important recognition in the Korean manufacturing sector.
The 2018 winners were honored at the 42nd Annual Award Ceremony at COEX Auditorium in Seoul on Tuesday, October 16th 2018. Huneed’s growth in exports, manufacturing efficiency and the creation of skilled jobs played a major factor in the decision.
Founded in 1968, Huneed Technologies is a leading developer and manufacturer of tactical communication systems; in the short span of 10 years, its Boeing-invested aerospace division has successfully grown into a globally competitive tier 1 aerospace supplier, contributing to a 82% average annual revenue growth for the past 3 years.
Huneed’s vested interest in developing the next generation of workers resulted in the development of a sustainable and scalable formula: today, Huneed recruits skilled production operators from technical high schools, and trains them on various skills and processes, all prior to graduation. The employment program has also included a months-long training program at Boeing sites in the United States, as well as Airbus and Safran locations in Europe.
Over the past five years Huneed has used this formula to scale and meet increased manufacturing needs, especially within the new aerospace division, with employment rate growing 121% during this period. This proven formula will also allow Huneed to develop its new aerospace business vertical in the global MRO market.
“We are extremely honored to be receiving the 2018 Presidential Prize, and see it as a testament to our commitment to excellence in aerospace manufacturing,” says Eugene Kim, Chairman of Huneed Technologies. “This is the culmination of all our efforts, and that we are on the right path to growing our global aerospace market share.”