On the 15th, the Ministry of SMEs and Startups announced that it has newly designated 100 small businesses (50 century-old stores and 50 century-old small businesses) for 2025 to discover and disseminate successful models of outstanding small businesses with a long history and tradition. Examples include 'Cha Ae Jeon Grandma's Kalguksu' in Busan, which has 37 years of experience, 'Tongdo Yo,' a traditional pottery manufacturer with a 32-year history, and 'Hyundai Beauty Academy' in Gwangju, which has been operational for 42 years.
A century-old small business refers to a small business that has contributed significantly to the local community while operating for a long time, with sustainable growth expected based on the accumulated experience. 'Century-old stores' are small businesses such as restaurants and wholesale shops that have built trust in their local areas based on a consistent philosophy and quality for more than 30 years, while 'century-old small businesses' refer to those in the manufacturing sector that have sustained their operations with skilled techniques and craftsmanship for more than 15 years.
Since 2018, the Ministry of SMEs and Startups has been discovering and nurturing excellent small businesses representing their regions through the 'Century-old Store and Century-old Small Business Development Project.' Including the newly designated companies, there are now 1,407 century-old stores and 981 century-old small businesses nationwide.
A total of 785 companies applied for this new designation, recording a record competition rate of 7.9 to 1. In particular, this year, to enhance the fairness and relevance of the evaluation, a recognition vote involving local residents was introduced for the first time in addition to the previous written and on-site evaluations. Various factors, including operational sustainability, excellence and uniqueness of products and services, and contributions to the local community, were comprehensively evaluated to select the final 100 businesses.
Selected businesses will receive certification plaques for 'Century-old Store' and 'Century-old Small Business,' along with storyboards that contain their founding stories and operational philosophies. In addition, they will receive preferential support such as points (3-5 points) and priority selection when applying for small business policy funds and consulting advantages, strong small business growth support, and smart store technology dissemination, among the 12 small business support projects within the Ministry of SMEs and Startups.
Additionally, the Ministry of SMEs and Startups will continue to strengthen collaborations with financial institutions such as KB Financial, large corporations like LOTTE Wellfood, and public institutions like Korea Railroad Distribution (코레일유통) to enhance various supporting activities aimed at reinforcing the sales channels and brand capabilities of century-old small businesses, such as establishing exclusive stores, online and offline platform listings, and excellent product exhibitions linked to festivals.
Lee Dae-geon, the Director of Small Business Policy at the Ministry of SMEs and Startups, said, "We will strengthen systematic support so that century-old small businesses can grow into global corporations that surpass local representative brands."