Nova International CEO Lee Hyo Receives Order of Industrial Service Merit (Gold Tower) on Trade Day > Notice

Nova International CEO Lee Hyo Awarded the Order of Industrial Service Merit (Gold Tower) on Trade Day

The remarkable turnaround story of Busan-based footwear manufacturer Nova International Co., Ltd., once on the brink of closure, gained national attention on December 7th, in celebration of Korea’s 55th Trade Day.

Lee Hyo, CEO of Nova International, was honored with the Order of Industrial Service Merit (Gold Tower)—the highest accolade bestowed—at a ceremony held at COEX, Seoul. Lee was recognized for overcoming the crisis of potential business shutdown through the production of new eco-friendly footwear and for pioneering new international markets. He was also acknowledged for diversifying export products and markets, contributing to regional economic growth and job creation.

Hosted by the Ministry of Trade, Industry and Energy and the Korea International Trade Association (KITA), the ceremony was attended by President Moon Jae-in, Minister Sung Yun-mo, and over 2,000 key figures from economic and industrial sectors.

This year, the prestigious Gold Tower medal was awarded to five outstanding business leaders, including Lee—three from small enterprises and one each from a mid-sized and a large corporation.

In an industry often seen as declining, Lee stood out among leaders in cutting-edge fields such as semiconductor equipment and telecommunications components. His continuous R&D efforts and pioneering of overseas markets helped Nova International remain competitive even against Chinese counterparts, making his recognition all the more notable.

Founded in 1994 and headquartered in Sasang-gu, Busan, Nova International specializes in manufacturing athletic and outdoor footwear. The company operates two factories in Busan and recorded annual sales of KRW 23 billion (approx. USD 17.5 million) last year.

Lee joined Nova International in 1995 as the head of administration and led overseas sales initiatives. His efforts contributed to the company winning the “$10 Million Export Tower” award in 2000. Despite setbacks due to declining price competitiveness, the company pivoted toward the domestic market while seeking renewed export opportunities.

The turning point came when Nova International began supplying wool-based shoes to Allbirds, a U.S.-based startup often referred to as “the Apple of footwear.” Partnering with Allbirds, the company produced eco-friendly shoes made of wool, leading to a major rebound in exports.

After being appointed CEO in 2016, Lee focused on technological innovation and export growth. His efforts bore fruit when Nova's knitted upper shoes made with sustainable fibers gained international acclaim. The shoes were featured in Time, The Washington Post, Forbes, and The New York Times, praised as “the world’s most comfortable shoes.”

Nova International's exports skyrocketed from USD 1.17 million (KRW 1.3 billion) in 2016 to USD 11.58 million (KRW 12.8 billion) in 2022, and reached USD 28.11 million (KRW 31.2 billion) in 2023—a 24-fold increase over three years.

To support this growth, the company expanded its workforce from 71 to 124 employees, significantly contributing to job creation in the Busan area.

Lee also played a key role in obtaining ISO 9001, ISO 14001, and venture company certifications. Under his leadership, the company established an in-house R&D center and developed sustainable outsoles using sugarcane extracts, reinforcing Nova's position as a pioneer in eco-conscious footwear. By sourcing materials and production processes locally, Nova has furthered its contributions to the regional economy.