[Amazing Korea] Korea Emerges as Mecca of 3T Trends

Korea Emerges as Mecca of 3T Trends

 

A photo of the "House of Dior" store, the brand's largest flagship store in the world, which opened in June in Cheongdam-dong, Seoul.

 

 

 Until now, global luxury fashion brands have focused on Japan and China for Asian fashion and beauty. However, they are recently beginning to acknowledge Korea as the trend maker, trend setter, and trend leader, as the country quickly accepts fashion trends and reproduces them after modification and reinterpretation.

 

 According to industry sources on Sept. 8, this year has become the first year of the start of culture marketing, as more global leading luxury fashion brands such as Chanel, Louis Vuitton, and Dior, are spending time in Korea. Flagship stores of luxury fashion brands are springing up in Cheongdam-dong fashion street for the first time in 10 years. Also, they are renovating their stores to the largest and the most luxurious in the world. This is because they can attract attention and make huge advertising effects in the global markets with the opening of their stores in Seoul, which has become the mecca of trends.

 

 An unprecedented increasing number of masters in the fashion industry are visiting Korea. Karl Lagerfeld, the head designer and creative director of Chanel, visited Korea early this year and said, “Tradition and cutting-edge technology coexist in perfect harmony in Seoul and it is the dynamic and creative city.” Lagerfeld is nicknamed to be the Pope in the fashion industry. Also, Suzy Menkes, a fashion journalist who exerts powerful influence on the global fashion trend, visited Korea in July and said, “Now it is Seoul.” She also promised that she would visit Korea again next year.

 

 Korean cosmetics firms are leading the trend in the global beauty market with AmorePacific, which has first created the “Cushion Foundation,” in the lead. Lancôme, the leading French luxury beauty brand, has replicated the product of AmorePacific and asked to build a strategic partnership, while other global leaders, such as L'Oréal and ELKA, are showing their eager attention in domestic cosmetic producers. In the rear, smaller beauty brands are creating the global facial mask market and forming the emerging K-beauty corps, and domestic cosmeceutical brands are tapping into the global niche market.

 

 Since Korean consumers have more knowledge than workers in the beauty industry due to the effects of social network services making them trendy and smart consumers, Korea has changed from a test market in the past to a qualified market now. So the country is being paid attention to by global beauty brands as a bridge market, the center of the trends in Asia.

 

 

 

Source : http://www.businesskorea.co.kr/article/11988/trendy-seoul-korea-emerges-mecca-3t-trends

[Amazing Korea] ‘Korea Is Only Asian Country to Compete with Hollywood’s Cultural Hegemony’

‘Korea Is Only Asian Country to Compete with Hollywood’s Cultural Hegemony’

 

 

 

Chung Jen Feng, vice president of Wanda Media.

 

 Jung Min-heeChung Jen Feng, vice president of Wanda Media, said at the 4th KOFIC Global Forum held in KCCI on Sept. 3 that Korea is the only Asian country that can compete with Hollywood’s cultural hegemony.

 “I think that Korea is the most advanced country in Asia in film industrialization and systems, and the only Asian country that can compete with Hollywood’s cultural hegemony. I think China has a lot to learn from Korea, like how to deal with American hegemony, and what measures to take in order to advance China’s film industry. So, I expect that cooperation between the two countries will expand in the future.”

 Chung visited Korea to participate in the 4th KOFIC Global Forum, which took place at the Korea Chamber of Commerce and Industry in Seoul for two days from Sept. 2, and to discuss how to converge with information communication technology (ICT), which is recently the talk of the town in the film industry. Since he has close ties with Korean film producers and production companies, he will stay in Korea until Sept. 6 to visit several firms. 
 He said, “The Korean movie that I recently saw is 'Assassination.
' Actress Jun Ji-hyun’s charm stood out in the movie. I have seen several joint films of her in Hong Kong, but I found this most attractive. I think the actress could shine in the movie, since the outstanding director showed his ability to the full. This is the strength of Korean movies.”

 Founded in 2011, Wanda Media is rapidly growing in China after releasing a lot of movies in a short period of time, such as “Police Story 2014” and the theatrical cut of “Hurry Up, Brother”, which is a Chinese version of Korean TV show “Running Man.” He said, “The unique part of Wanda Media from China’s other five major film companies is the fact that it is a subsidiary of the Wanda Group, which encompasses a wide range of business areas. With the group having high hopes for the company, we are cooperating with firms around the world. Also, we are aiming to become the most powerful film producer in the world some time.”


 Regarding to the fact that Korea is a country that frequently cooperates with China more than other Asian countries, he said that it is due to the cultural and historical similarity between the two countries and the popularity of Korean stars in China. Above all things, however, it is because Korea has high competitiveness due to its advanced film system. “China’s movie industry now has a lot in common with Korea. To be sure, Korea is a step ahead, so China will follow a similar pattern in the future,” he added.

Source : http://www.businesskorea.co.kr/article/11936/hollywood-competition-%E2%80%98korea-only-asian-country-compete-hollywood%E2%80%99s-cultural-hegemony%E2%80%99#sthash.gTIcGC0u.dpuf

 

[Amazing Korea] South Korean-designed SMART Reactors to be Built in Saudi Arabia for First Time

South Korean-designed SMART Reactors to be Built in Saudi Arabia for First Time

 

 

 

    A diagram of a System Integrated Modular Advanced Reactor. 

 

 

 

 South Korea’s efforts to export its domestically-designed small nuclear power reactors have borne fruit.  The Ministry of Science, ICT, & Future Planning (MSIP) announced on Sept. 2 that the Korea Atomic Energy Research Institute (KAERI), designer of the System-integrated Modular Advanced Reactor (SMART), has signed a memorandum of understanding (MOU) with Saudi Arabia's King Abdullah City for Atomic and Renewable Energy in Saudi Arabia to conduct the Pre-Project Engineering (PPE) program before constructing SMART reactors. This is the first project of the “SMART Partnership MOU,” which was signed at the time when President Park Guen-hye made a tour to the Middle East in March.

 

  Under the agreement, the two countries will jointly conduct a preliminary study to review the feasibility of constructing SMART reactors, build two SMART reactors in Saudi Arabia, push ahead with the additional construction, and cooperate on the commercialization and promotion of the SMART reactor to third parties. Once the construction is completed, as agreed, SMART reactors, which have been developed with a large budget from 1997, will be exported for the first time in 20 years. Park Jae-moon, head of the Office of R&D Policy at the MSIP, said, “Starting from Dec. this year, the two countries will carry out the PPE project for 39 months, and make the preliminary safety analysis report. If Saudi Arabia finally decides to build SMART reactors after three years, we will submit the report and get the approval for construction.”

 

  As the agreement stated, Korea and Saudi Arabia will make the joint investment of a total US$100 million (118.4 billion won) – US$30 million (35.52 billion won) each year for three years.

 

  Park said, “Saudi Arabia will supply 20 percent of the nation’s electric power from nuclear power plants, and 15 to 20 percent of them from small nuclear power reactors by 2040. Since we have recently decided on the possible site and focused on training researchers in the related sectors, the final export is more likely to happen.”

 

  Considering the fact that the possible SMART reactors construction site is inland, the MSIP and KAERI will introduce an air cooling system, which is different from the existing water cooling system that is authorized as the standard design.



Source : http://www.businesskorea.co.kr/article/11917/news-south-korean-designed-smart-reactors-be-built-saudi-arabia-first-time#sthash.kvDpNmSM.dpuf

Korea Machine Tool Market Trend in August

Korean Machine Tool Market Status (August, 2015)

☐ (Orders) ‘15. August Machine Tool Order ￦1,893B(MoM -14.8%, YoY -32.9%)
o (Domestic Orders) ￦1,238B(MoM -3.5%, YoY -21.1%),
   (Export Orders) ￦655B(MoM -30.4%, YoY -47.8%)

o (By product)
NC Metal Cutting(￦1,627B, MoM -16.7%)
Metal Cutting (￦74B, MoM +19.7%), 
Metal Forming(￦ 191B, MoM -8.2%)

o (By industry)
Automobile(￦528B, MoM +3.3%),
Steel‧Nonferrous Metal(￦98B, MoM +32.0%), 
Machinery(￦240B, MoM +15.5%),
Electric‧Electronics‧IT(￦129B, MoM -7.9%)

*Metal products(￦81B, MoM -20.2%), Shipbuilding‧Aviation(￦55B, MoM -23.7%),
 Precision Machinery(￦11B, MoM -63.4%)

o Machine Tool Orders(January ~ August) ￦23,800B(YoY -4.4%)
 (Domestic Orders) ￦ 11,527 B, YoY -7.4%,
 (Export Orders) ￦12,273B, YoY -1.4%


☐ (Production) ‘15, August Machine Tool Production
     ￦2,483B(MoM -13.9%, YoY -7.7%),
    Shipment ￦2,819B(MoM +8.8%, YoY +3.6%)
o Machine Tool Production(January~August, 2015) ￦23,621B(YoY +4.6%)


☐ (Exports, August, '15) $205M(MoM -18.8%, YoY +5.5%)
o Sub total of Exports (Jan.~August, '15) $1,631M(YoY +14.4%)

- By Region
Asia($735M, YoY+14.9%), North America($269M, YoY -1.1%), Europe($338M, YoY -15.0%), Central and South America($247M, +245.4%)

*ratio of Exports(‘15.Jan.~August) by region : Asia(45.1%), Europe(20.7%), North America(16.5%)Central and South America(15.1%)

☐ (Imports, August, '15)$105M(MoM -23.2%, YoY -5.7%)
o Sub total of Imports (Jan.~ August, '15) $969M(YoY -2.5%)

- Asia($637M, YoY +2.8%), North America($42M, YoY -8.4%),
 Europe($285M, YoY -12.8%)

*ratio of Imports(‘15.Jan.~August) by region : Asia(65.7%), Europe(29.4%),
 North America(4.3%)
*￦ : Korea Won, $ : US dollar, B= Billion,  M=Million

[SIMTOS Story]Where can we meet SIMTOS?

Where can we meet SIMTOS?

SIMTOS takes place in KINTEX, Korea. SIMTOS jumped up into a professional manufacturing exhibition as KINTEX equips 100,000㎡ exhibition halls. Each of SIMTOS 2012 & 2014 accumulated over 100,000 visitors and rapidly grew as ‘professional, international, and enlarged’ exhibition.

KINTEX Exhibition Center Ⅰ – Hall 1-5

■    Metal Cutting & Die • Molding Working

-       Turning Centers(Lathes), Machining Centers(Tapping Centers), Milling Machines, Drilling Machines(Drill Heads), Boring Machines(Boring Heads), Grinding Machines, Finishing Machines / Lapping Machines/ Polishing Machines / Honing Machines, Electric Discharge Machines(EDM, WEDM), Gear Processing Machines(Hobbing Machines), High-Speed Processing Machines / Carving Machines, Special Purpose Machines, Other Metal Cutting Machines, Dies and Molds / Components for Dies and Molds

■    Parts Materials & Motion Controls

-       Work Holding Devices, Hydraulic & Pneumatic Parts, Coolers, Nuts / Couplings / Power Locks, Spindles, Lubricants, Others

-       Numerical Control, Automatic Programming Systems, Manufacturing Controller Systems, Other Controllers

-       Materials(Metal, Fiber, Chemical, Ceramic, Plastic, Fluoroplastics, Others)

KINTEX Exhibition Center Ⅱ – Hall 7-10

■    ​CAD/CAM, Measuring Systems, Automation & Robotics – Hall 7-8

-       CAD/CAM, Solutions/Statistics Programs, 3D Printer(Scanning Systems), Others

-       Measuring Instruments, Machine Vision Systems, 3D Scanning System, Others

-       Motors(Decelerator), CNC Systems, Ball Screws/LM Systems(Bearings), Other Automated Parts

-       Industrial Robots, Parts for Robots, Other Related Equipment for Robots

■    Tools & Related Equipment – Hall 9

-       Cutting Tools, Tool Holders, Diamond Tools, Grinding Tools, Tool Grinding Machines, Raw Materials, Other Cutting Tools

-       Cordless Tools, Corded Tools, DIY Tools, Air Tools, Other Power Tools

■    Cutting-off & Welding – Hall 10

-       Cutting-off Machines / Shearing Machines, Bending Machines, Plasma Cutting Machines, Sawing Machines, Laser Processing Machines, Water Jet Processing Machines, Laser Marking Machines, Other Cutting Machines

-       Welding Machines, Welding Cutting Machines, Welding Automation, Welding Materials, Welding parts and Related Equipment, Others

■    Press & Metal Forming – Hall 10

-       Servo Presses, Mechanical Presses, Hydraulic Presses, Punching Machines / Notching Machines, Automated Equipment for Metals, Forming Machines, Parts for Metal Forming machines, other Metal Forming Machines

SIMTOS 2016 opens on April. 13 – 17(5 days) KINTEX, Korea. For registration and details, visit – www.simtos.org   ☎1599-2721.

[Monthly SIMTOS] New Main Poster for SIMTOS 2016

New Release "SIMTOS 2016 Brand New Poster"

SIMTOS 2016 organizer, KOMMA(Korea Machine Tool Manufacturers’ Association), released brand new poster design. It visualized “Metal-forming process” to appeal the better quality, leading economic recovery, and presenting vision. This emphasized the pursued aspect of SIMTOS 2016. Then, the poster is symbolizing the vision and value of SIMTOS2016.

>>SIMTOS, the Great Path to Smart Manufacturing and Business Variety

SIMTOS secretariat set up 2016 slogan, ‘For Next Technology & Business’ and released new poster design in order to experience technology of the next generation and make SIMTOS`16 as the cradle of businesses. The basic concept of new poster is introducing the present state of manufacturing and containing the meaning of ‘SIMTOS2016, Leading New Prominence & Value of Manufacturing Technology’.

>> Presenting Vision of Manufacturing, SIMTOS

SIMTOS is not only exhibition fair but the business marketing festival where advertisement, technical cooperation, network construction, and profit creation are performed. Especially, every exhibitor could be their potential and interactive customers. It is also possible that both customers and suppliers exhibit and establish close networks. In this context, SIMTOS new poster design emphasizes and visualizes the image of manufacturing process – Parts as customer, Tool as supplier. This eventually signifies SIMTOS provides new technology, opportunity to create profit and vision of manufacturing industry.

SIMTOS 2016 opens on April. 13 – 17(5 days) KINTEX, Korea. For registration and details, visit – www.simtos.org   ☎1599-2721.

[Monthly SIMTOS] SIMTOS 2016 ROADSHOW in Chennai, India

SIMTOS 2016 ROADSHOW in Chennai, India

Korea Machine tool Manufacturers’ Association(KOMMA)hosted SIMTOS2016 visited India to attract India buyers with purchasing power on Sept. 24^th and 25^th. KOMMA held the road show to attract India buyers and introduce trend of Korea machine tool industry and SIMTOS. KOMMA has built up close relationship with Ambattur Industrial Estate Manufacturers' Association (AIEMA) to invite buyers in India that is the most influential emerging country among nations located in Southeast.  

The visit also took place in cooperation with AIEMA and KOMMA. AIEMA that was organized aiming at the development of Ambattur industrial complex where more than 2,200 manufacturers for molds, parts, electronics, machine tools and etc are concentrated, has attracted buyers in Chennai, India since 2010 as a close partner of SIMTOS. 55 people related with machine tool industry in India participated in road show hosted in Chennai that is one of important industrial places and KOMMA had the meeting with AIEMA for the cooperation in business on Sept. 24^th.

Also next day, KOMMA had to time to discuss how to invite India buyers with people in charge of India branch office of domestic companies. KOMMA expected more than 5000 foreign buyers with high purchasing power to visit SIMTOS 2016. They will do the best to attract buyers from emerging countries such as China, Southeast Asia, Central and South America as well as be possible for SIMTOS exhibitors to meet interesting buyers around the world even though they don’t visit foreign exhibitions.