SEOUL, Dec. 4 – Samsung Electronics Co., the world’s largest mobile handset and memory chip manufacturer, won South Korea’s most coveted export award by directly shipping out a record US$75 billion worth of products in a one-year period, a local traders association said Thursday.
According to the Korea International Trade Association (KITA), Samsung’s latest accolade marks the third time that the tech giant has been given the Export Trophy.
The award given out to celebrate Seoul’s annual “trade day” was first presented to Hanil Synthetic Fiber Co. in 1973 after it shipped out $100 million worth of goods.
Samsung Electronics first won the prize in 2001, when its exports hit $20 billion. It again received the trophy in 2011 for shipping out $65 billion worth of products.
The prize is given by tallying all exports reported by a company from July of the previous year to June of the year the award is being handed out. Companies cannot be given the top award if their exports do not grow by more than $5 billion, or if the total dips, KITA said.
The association said 2014 is a new landmark, because the amount exported by Samsung raises the bar for all those that will follow.
Besides Samsung, Hyundai Mobis Co., South Korea’s largest car parts maker, and SK hynix Co., one of the world’s largest computer chipmakers, each received the second-highest award for shipping out $10 billion worth of products.
All in all, some 1,481 companies were recognized for their achievements in trade this year, KITA said.
