Four Korean companies including Hyundai Motor Group will receive an award for contributing to boosting bilateral economic ties with China, trade and economic associations from the two countries said Wednesday.

The companies, also including SK Networks, LG Display and LS Group, were picked for the grand award granted jointly by the China Council for the Promotion of International Trade and three other trade organizations.

They were chosen based on a comprehensive evaluation of their contributions to bilateral ties in economy, technology and social and cultural areas, they said. The awards will be conferred in a ceremony scheduled for Thursday. (Yonhap)