By Kang Seung-woo
AmorePacific Corp. President and CEO Suh Kyung-bae was named the Ernst & Young ‘Entrepreneur Of The Year’ Korea 2010 in an award ceremony in Seoul Thursday.
Ernst & Young Korea, a global audit and advisory firm, announced its six best entrepreneurs in the annual ceremony of Suh; KHVatec CEO Nam Kwang-hee; Poongsan Group Chairman Ryu Jin; Korean Re CEO Park Jong-won; Celltrion Chairman Seo Jung-jin and Kibo Steel CEO Choi Seung-ok.
Suh, 47, the most honorable “Master” award recipient, will represent Korea at the “2011 World Entrepreneur Of The Year” awards, scheduled for June 2011 in Monte Carlo, Monaco.
Former Deputy Prime Minister Lee Hun-jai, who led a seven-member judging panel, said Suh showed an outstanding performance in overseas markets including China, France and the United States with an aggressive expansion strategy, developing AmorePacific into a cosmetic giant with a global reputation.
Launched in the United States in 1986, the Ernst & Young Entrepreneur Of The Year awards program has grown to the world’s most prestigious business awards for the most successful and innovative entrepreneurs, now held in more than 140 cities of over 50 countries.
“Entrepreneurial spirit and vision are what we need in today’s turbulent times,” Ernst & Young Korea CEO Gweon Seung-wha said. “We will always take the initiative in discovering exemplary entrepreneurs and sharing their journeys towards success.”
Ernst & Young Korea launched this year’s program at a reception in June by forming the judging panel, which went through a strict screening process including face-to-face interviews of candidates over the last five months.
Six primary criteria included entrepreneurial spirit, innovation, personal integrity and influence, financial performance, strategic direction and national and global impact, according to the judging panel.