Selected as a ‘G-PASS Company’ — a Promising Enterprise for Entering Overseas Procurement Markets
Plans to Supply Paint and Chemical Material Products and Aggressively Target Overseas Markets
Chokwang Paint Co., Ltd. (CEO Yang Sung-ah) announced that it has been designated a G-PASS company — a promising enterprise for entering overseas procurement markets — for the second quarter of 2024, and that it attended the award ceremony held at the Seoul Regional Public Procurement Service on June 20.
The ‘G-PASS (Government Performance ASSured) Company Designation Program’ is a program operated by the Overseas Procurement Information Center of the Public Procurement Service. In order to strategically target the $6.2 trillion overseas government procurement market, the program selects promising enterprises with strong potential to enter overseas procurement markets from among small and medium-sized and mid-sized companies. It provides support programs that leverage the Public Procurement Service's overseas networks to help companies enter overseas government procurement markets, and offers a variety of support to companies with export competitiveness in target countries so that they can be competitive in overseas procurement markets as well.
Chokwang Paint, a company specializing in chemical technology and paint manufacturing that was launched in 1947, has strengths not only in its specialty field of general comprehensive coatings but also in materials fields that can be applied to advanced industries, such as backsheet adhesives for solar panels and polarizer adhesives for displays. In addition, through new business investments including Chokwang Vina, its local paint corporation established in Vietnam in 2007; Chokwang Jotun, a company producing special paints for ships and heavy-duty anti-corrosion applications that was jointly established with Norway's Jotun in 1988; Lipoma (a catalyst development company) in 2019; Smeco (a coating agent development company) in 2020; and CK EM Solution in 2021, a heat-dissipation solution company that develops and produces heat-dissipation materials and adhesives for secondary batteries based on paint adhesion technology, Chokwang Paint plans to knock on the doors of overseas buyers and foreign procurement agencies in the high-value-added electrical and electronic components sector.
Chokwang Paint stated that, through its selection as a G-PASS company, it plans to supply a variety of paint and chemical material products to developing countries in Southeast Asia and Central Asia based on approximately 80 years of technological know-how in the paint industry, and to aggressively target overseas markets.
▲ At the award ceremony for the second-quarter 2024 G-PASS company designation, Chokwang Paint Vision Center Director Han Man-chun (second from the right in the back row) poses for a commemorative photo with company officials.