[SIMTOS Story] HK. Co., Ltd. -Leading Laser cutting machine Manufacturer

HK. Co., Ltd.

- Leading Laser cutting machine Manufacturer -

 

 

 HK. Co., Ltd has changed their 26 years-old name ‘Hangwang.’ Furthermore, it has completed the 3,600 square meters second factory, ‘Doyakgwan.’ Why has the company changed the name of it and completed its office building? MTM visited the CEO of HK. Co., Ltd, Gye Myeong-je and listened to the reasons and his opinion about ‘change.’

 

 Advance in industry has brought about complexity of forms and difference of materials which is hard to be made by the existing technology. ‘Laser’ has suddenly appeared like shine from the sky and become the mainstream. Laser cutting machine is suitable for small quantity batch production. It is economic so that its demand has been increasing.

 

 HK. Co., Ltd is one of the best laser cutting machine manufacturers in Korea. The company competes against world-famous German and Swiss companies.

 

 The company exports laser cutting machine to around 30 countries in the world including United States, China, Canada and Russia and has branches in United States, China and Turkey. What is the secret of its success despite of European and Japanese companies' dominance?

 

 The CEO of HK. Co., Ltd, Gye Myeong-je, pointed out contact service for various models as the first reason. Laser cutting machine enables users to make different metals such as iron plates, stainless steel and pipes. The company takes into account this feature and offers customized before and follow-up service. Another reason is constant employee training. He said that the competitiveness of the company is from ‘human resource’ and that is why the company fosters its own technology masters through its technology training center.

 

 “The most important thing is to invest in R&D continuously and decisively. In the past, other domestic companies made laser cutting machine, too. Companies have to invest technology development continuously to stay competitive but it is hard to do. Therefore, some companies hesitated to change and left laser cutting machine area.”

 

 On the contrary, HK. Co., Ltd, has been investing more than 10% of its revenue into R&D and the ratio of R&D employee accounts for 22%.

 

 Employees had to move along the place where products are placed a t the existing factory. However, the new manufacturing system has been invented and they do not need to move as products move on rails.

 

New name with New house

 

 HK. Co., Ltd has been evolving and changing relentlessly. I could not resist myself to ask the reasons why the company has changed its name and completed the new office building. The company gave up its 26-years-old name, ‘Hangwang.’ The CEO, Gye Myeong-je said that the main reason is that it is hard for overseas customers to pronounce the old name.

 

 Another changes are the newly-built second factory and the new office building. It is because that the previous factory could not accommodate the whole yield. In addition, the factory had not enough space for training curriculum for foreign dealers or customers and domestic customers.

 

Endless changes

 

 Change is not a strange thing to HK. Co., Ltd. The CEO, Gye Myeong-je emphasized “continuous technology development is required to compete against high-class companies in the world. It is directly connected to our survival. HK. Co., Ltd has currently established a supply chain to expand its business area along with its main area, laser cutting technology. In other words, it establishes a supply chain including bending machine, deburring tool and welding.

 The company buys bending machine and deburring tool which are quality and affordable on a large scale and offers those to customers at reasonable price.

 

 I asked the goal in the future. The CEO, Gye Myeong-je, reveal “The factory we have can produce abour 600 machine and the revenue is estimated to exceed 300,000,000,000 Won. We are planning to accomplish our short term goals first to become a world top 3 laser cutting machine manufacturer in a long-term following European and Japanese companies.

 

[SIMTOS Story] Mitutoyo Korea Corporation - Precision measuring instruments such as coordinate measuring machines, form measuring instruments, small tool instruments, etc.

Mitutoyo Korea Corporation

 - Precision measuring instruments such as coordinate measuring machines, form measuring instruments, small tool instruments, etc -

 

 Mitutoyo, the 80-years-old tradition of Precision Measuring Instruments, is the specialized company that focuses only on precision measuring since 1934. As distributing measuring tools, 3D measuring machines, profile measuring machines, optical inspection machine and etc. worldwide, Mitutoyo became the only maker producing every types and line of precision measuring instruments in the field of measuring length.

<QI>

 

 Mitutoyo Korea Corporation, one of the Mitutoyo branch, will exhibit various technology and instruments in SIMTOS2016. These include In-line Measuring Instruments, One-click Programming Software - MiCAT, One-click Measuring Instruments – Quick Image, and etc. for Automation System.



 

 

<SV-M3000CNC>

 

 Mitutoyo Korea Corporation authority says, “We make a decision to participate SIMTOS 2016, because it is the one of the successful exhibition in Korea for its enormous scale and accumulated visitors.” And he adds, “Mitutoyo Korea Corporation would exhibit various products with new products as the enlargement of stands(2.5 times more compared to last time) in order to receive response from public.”

[SIMTOS Story] NAMSUN MACHINERY CORP - 65 year-long History in Machine Tool Industry

NAMSUN MACHINERY CORP

- 65 year-long History in Machine Tool Industry -

 

 

 There is a company that has continued for 65 years based on the strong trust of customers for the technology. That's NAMSUN MACHINERY CORP is in the forefront of development of machine tool with determination that thing to save corporation is only technology.

 

 SIMTOS 2016 Secretariat visited NAMSUN MACHINERY CORP which recently enhance the status of domestic machine tools industry by being more active sales activities abroad and directly saw technology skills they have emphasized.

 

<SPHINX-5X/65>

 Last month completed internally the preview of energy saving 5-AXIS machine SPHINX-5X/65 in front of the release. After research and development for 5years, SPHINX-5X/65 that is created with energy saving factors such as lightweight design, standby strategy technology in peripheral equipment, monitoring technology during power consumption and etc shows incredible results that it could reduce more 50% power consumption compared with existing products.

 

<SPHINX-5X/30>

 SPHINX-5X/30 has good reactions in Europe. High speed 5-AXIS machine with the best specifications and performance to produce precision parts of clock, medical device and etc competes against products of prestigious global companies. Earlier this year NAMSUN MACHINERY CORP achieved the export contract to P company well-known as watch brand at the end of competing with German company and created an opportunity to instill a new awareness of the Korea machinery in the European market.

 

 Mr. Sohn of said NAMSUN MACHINERY CORP as the oldest machine tool company in Korea with pride in long history would keep proving the power of domestic machine tool around the world by making constant efforts to bring about the revolution.



[Monthly SIMTOS] SIMTOS 2016 to be a 'Bridge' between Exhibitors and Visitors

SIMTOS, to be a 'Bridge' between Exhibitors and Visitors
- Step 1: 70% of exhibitors have finished online registration of their products and marketing information!
- Step 2: Visitors can register their marketing information from now on!

 

 The secretariat of SIMTOS, Korea Machine Tool Manufacturers' Association
(KOMMA, as follows the secretariat), has stated that it is going to open online marketing information registration for visitors as of November 18th since the online marketing information registration for exhibitors has come to the finish. The secretariat has developed a distinguished online matchmaking program. The program is designed to create business environment where both exhibitors and visitors share information and find each other easily and spontaneously. ‘Online marketing registration for exhibitors’ is one of the secretariat's efforts to make the exhibition more prosperous. It is said that 70% of 675 exhibitors have registered their information.

>> Evolving Matchmaking4U*, connecting online and offline
 It is expected that approximately 800 exhibitors and 100,000 visitors from all over the world will attend the biggest market place of manufacturing technology, SIMTOS. Both exhibitors and visitors will be exploring each other's products and technology to make business opportunities. Unfortunately, 5 days are not enough time to increase business possibility. That is why the secretariat has been making its effort to be a bridge between exhibitors and visitors. From 2014, the secretariat has launched its unique business meeting program, 'Matchmaking4U.' The program connects visitors to exhibitors so that exhibitors can make profits and go overseas. 

 In 2016, the secretariat has developed its own online matchmaking program to enable both exhibitors and visitors find each other easily and spontaneously. Each exhibitor and visitor enter their information online including interesting products, handling products and industrial fields and share the information to consider business possibility before the exhibition. It will lead to effective matching environment on the exhibition day. 

 * MatchMaking4U is an acronym of MatchMaking for you. It means a customized business meeting
   program of SIMTOS.

>> Online marketing information registration for SIMTOS exhibitors has successfully finished !

  As the first attempt to make a‘participation-oriented’exhibition, the secretariat has opened a service called ‘Online marketing information registration for exhibitors' and the number of exhibitors is 675.

  According to the analysis of online marketing information registration for exhibitors, 469 exhibitors, equivalent of 70% of exhibitors, has registered information such as handling products, interesting buyers, industry demand, bilingual ability and the person in charge. It is an indicator of change that exhibitors recognize the exhibition as an unmissable chance to find optimal partners effectively.

<Status of SIMTOS 2016 exhibitors' marketing information registration (as of 2015.11.17)>

Themed Pavilion	Ratio of Registration	Total
Metal Cutting & Die ·Mold Working Pavilion	69.3%
Part, Materials & Motion Controls Pavilion	79.1%
CAD/CAM, Measuring Systems, Automation and Robotics Pavilion	66.4%
Tools & Related Equipment Pavilion	69.6%
Cutting off & Welding Pavilion	53.6%
Press & Metal Forming Pavilion	43.8%	69.4%

 As you can see, 69% of companies which handle Machine Tool and Metal Cutting equipment have registered. 66% are from CAD/CAM, Measuring Systems, Automation companies and 70% are from Part, Materials & Motion Controls. Especially, Part, Materials & Motion Controls has reached almost 80%. It shows that exhibitors of every themed pavilion are highly interested in the pre-marketing process.

>> Industry demand has expanded to the whole aspects of manufacturing industry including automobile, electronics, ship-building, aerospace and heavy equipment

 The analysis also shows exhibitors' industry demand and opinion on visitors. The most popular industry demand was industrial machine and metal die·mold working several years ago. However, 32% of respondents has revealed that they are in demand for electronic, ship-building, aerospace and heavy equipment, saying that it is evenly distributed in the whole manufacturing industry.

 The thing is that market place has been expanded to medical, home appliance, military, energy and construction industry as well as representative manufacturing industry. The industry account for 29% of the whole business demand which means that both exhibitors and visitors have been diversified.

>> ‘Now, exhibitors' turn’online marketing information registration for domestic visitors has started! 
  As online marketing information registration for exhibitors has come to the finish, the secretariat has started the second step of online business platform, online information registration for visitors, which is subjected to those who registered in advance from this month. Visitors who registered in advance are required to enter the purpose of visit, industrial fields, bilingual ability and interesting products on the SIMTOS 2016 website or though the link in the mail sent from the secretariat.

The platform of the secretariat's online counselling system is as follows
① Enter the marketing information for exhibitors → ② Enter the marketing information for visitors → ③ Exhibitors' information share and promotion of exhibit products → ④ Matching between‘handling products-interesting products or related industry-demanding industry’

Once marketing information registration for both exhibitors and visitors is finished, full-scale matchmaking platform is completed. It is a bridge between exhibitors and visitors and also a competitive matchmaking infrastructure.

SIMTOS 2016 is to be held from April 13th to 17th (5 days) in 2016 at KINTEX. If you have registered in advance, you can apply for participation online. For detailed information, please visit the SIMTOS website (www.simtos.org) or call 1599-2721.

 

[Amazing Korea] Korea to Become Game Changer in Global Semiconductor Market

Korea to Become Game Changer

in Global Semiconductor Market

 

 

 

 

 Despite the recent decrease in semiconductor prices, Samsung Electronics posted double-digit growth in the global semiconductor market this year, being hot on the trail of the industry’s number one Intel.

 

 SK Hynix entered the top five list in the industry for the first time ever. Korean companies made advances this year, though sales of the U.S.’ semiconductor makers, including Intel and Qualcomm, showed decreases. There can be a transition of power in the industry after next year.

 

 According to the monthly report released by semiconductor market research firm IC Insights on Nov. 12, Samsung Electronics is expected to have US$41.6 billion (48.24 trillion won) of sales in the semiconductor market this year.

 

 It is combined figures in the memory semiconductor, in which Samsung Electronics has maintained its top place for 22 years in a row, and the system semiconductor and microprocessor chip sectors, in which the company is relatively weak.

 

 As Samsung Electronics increased sales by 10 percent from US$37.8 billion (43.83 trillion won) last year, the company also ranked top in terms of the growth rate among the top five companies with the highest sales. Samsung Electronics started mass production of 48-layer V-NAND flash memory chips, and began the 14nm FinFET manufacturing process in the system semiconductor sector this year, showing unrivaled competitiveness in technology.

 

 SK Hynix also showed good performance this year. As the company is likely to post US$16.9 billion (19.6 trillion won) in sales, up 4 percent from US$16.3 billion (18.9 trillion won), it moved into fourth place in the industry, surpassing Qualcomm and Micron. It is the first time for SK Hynix to join the top five list in the industry in the rankings released by IC Insights.

 

 However, overseas competitors showed relatively low results. As the estimated sales of Intel this year stood at US$50.3 billion (58.32 trillion won), down 2 percent year-on-year, the gap between Samsung Electronics narrowed to US$8.7 billion (10.09 trillion won). The sales difference between the two companies last year reached US$13.6 billion (15.77 trillion won).

 

 In addition, Qualcomm, which was considered to be the absolute power in the system semiconductor sector, is also expected to record US$15.6 billion (18.09 trillion won) of sales this year, showing a 19 percent decrease from the same period.

 

 The advances of Korean companies stand out more when reflecting the exchange rate effects. The report said that the won this year is devaluated by nearly 7 percent against the dollar compared to last year and sales of Samsung Electronics will reach US$44.8 billion (51.95 trillion won) if the exchange rates this year are same as last year.

 

 Then, the sales gap between Samsung Electronics and Intel will narrow even further to US$6 billion (6.96 trillion won). Based on such a calculation, sales of SK Hynix will also surge to a whopping US$18.2 billion (21.1 trillion won).

 

 

 

Source : http://www.businesskorea.co.kr/english/news/industry/12942-semiconductor-changes-korea-become-game-changer-global-semiconductor-market

[Amazing Korea] Erich Schmidt in Korea this week to discuss Google partnership

Erich Schmidt in Korea this week

to discuss Google partnership

Erich Schmidt in Korea this week to discuss Google partnership

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  Eric Schmidt, the Executive Chairman of Alphabet Inc., the holding company of Google Inc., is visiting South Korea on Thursday for a three-day trip, according to Google Korea LLC on Sunday. Schmidt is scheduled to meet with executives of Samsung Electronics Co. Ltd in Seoul. He may be meeting Samsung Electronics Vice Chairman Lee Jay-yong.

 Schmidt is visiting Korea for the first time since Google changed to a holding company structure in August. Industry watchers would be closely watching what kind of new partnership the technology giant would be seeking with Samsung and LG Electronics. Schmidt visited Samsung Electronics the last time he visited Korea in 2013.

 Samsung Electronics and Google share leadership in the Android-based smartphone market.

 According to the IDC market research, the Android operating system took up the lion’s share of 82.8 percent of the global mobile market in the second quarter this year. The two companies last year signed cross-license agreement allowing each other access to patents rights of the two companies for the next 10 years.

 Schmidt will also be meeting executives of LG Electronics. LG Electronics and Google expanded partnership from Nexus phone to automated cars and operating system for the Internet of Things. Google engineers are working closely with LG workers at the company’s research and development center in southern Seoul.

  Schmidt also plans to visit Korean startup companies and the National Assembly.

 

 

Source : http://pulsenews.co.kr/view.php?sc=30800019&year=2015&no=1020913

[Monthly SIMTOS] Apply ‘Matchmaking4U’ Program to Meet Business Partners

Apply ‘Matchmaking4U’ Program to Meet Business Partners


 Are you looking for new business partners?

 Then, I’d like to introduce SIMTOS Matchmaking4U program.

 Matchmaking4U is the program connecting the visitors (potential buyers) and exhibitors.

  You could have meetings with SIMTOS exhibitors unlimitedly if you follow the simple steps
   below.



 [Step 1] Online registration for visiting SIMTOS 2016 (www.simtos.org)


 [Step 2] Check interesting products with additional information   
  - Bilingual ability (English, Chinese, Japanese etc.), industrial fields, company profile etc. 
  - The interesting products you check would be very important information to find the    
     optimal companies. 


 [Step 3] Matchmaking4U online   
  - A buyer can search SIMTOS exhibitors sorted by interesting products and apply for 
    the meetings online, and vice versa.
 
 [Step 4] Advance Matchmaking complete! 
  - If both sides find mutual points to cooperate, the advance matchmaking completes.

Matchmaking4U program opens on Nov. 9th, 2015.
After online registration, Step 2(additional information) is required to use MM4U service. 

Don’t miss a chance! Register Now!

If you have any questions and requests feel free to contact us.

SIMTOS secretariat
+82-2-3453-2721b2b@komma.org

[Monthly SIMTOS] - Have you noticed? – ‘SIMTOS Tram’

[Monthly SIMTOS] - Have you noticed? – ‘SIMTOS Tram’

First Action of SIMTOS, Activating the First Tram in the History of KINTEX Exhibition for KINTEX 2 Exhibition Venue

  

Have you ever seen the elephant tram in amusement parks or famous tourist spots? Now, you can take the SIMTOS tram during Exhibition Week. The SIMTOS secretariat is going to operate the tram from KINTEX 1 exhibition venue to KINTEX 2 exhibition venue. Recently, KINTEX and SIMTOS secretariat reached an agreement after consultation.

Secured Mobility for Balanced Visitor Fluctuation

During SIMTOS week (Apr. 13 ~ 17), there are over 850 exhibitors from 30 countries, and more than 10M people are going to visit KINTEX. According to the statistics, it takes average 5 hours to look over SIMTOS due to the extensive exhibition fairground. For, most of visitors came early in the morning and 43.8% of them spent more than 5 hours.

Thus, SIMTOS secretariat decided to operate the SIMTOS tram in order to secure visitors’ convenience. And it would contribute the well-balanced influx of the visitors over two exhibition venues – 1^st and 2^nd and would raise the satisfaction of both exhibitors and visitors.

Korean Machine Tool Market Trend in September

Korean Machine Tool Market Status (September, 2015)

 

☐ (Orders) ‘15. September  Machine Tool Order ￦2,089B(MoM +10.4%, YoY -34.6%)
o (Domestic Orders) ￦1,414B(MoM +14.3%, YoY -10.7%),
   (Export Orders) ￦675B(MoM +3.1%, YoY -58.1%)

o (By product)
NC Metal Cutting(￦1,672B, MoM +10.4%)
Metal Cutting (￦101B, MoM +35.0%), 
Metal Forming(￦ 317B, MoM +65.7%)

o (By industry)
Automobile(￦716B, MoM +35.4%),
Steel‧Nonferrous Metal(￦26B, MoM -73.3%), 
Machinery(￦217B, MoM -9.4%),
Electric‧Electronics‧IT(￦132B, MoM +2.2%)

*Metal products(￦91B, MoM +12.2%), Shipbuilding‧Aviation(￦59B, MoM +6.6%),
 Precision Machinery(￦42B, MoM +269.8%)

o Machine Tool Orders(January ~ September) ￦28,091B(YoY -7.8%)
 (Domestic Orders) ￦ 12,941 B, YoY -7.8%,
 (Export Orders) ￦12,948B, YoY -7.9%

☐ (Production) ‘15, September Machine Tool Production ￦2,391B(MoM -3.7%, YoY -14.8%),
   Shipment ￦2,465B(MoM -12.6%, YoY -18.4%)
o Machine Tool Production(January~September, 2015) ￦26,013B(YoY +2.4%)


☐ (Exports, September, '15) $154M(MoM -25.2%, YoY -33.0%)
o Sub total of Exports (Jan.~September, '15) $1,784M(YoY -25.2%)

- By Region
Asia($815M, YoY+10.3%), North America($293M, YoY -5.4%), Europe($337M, YoY -19.5%), Central and South America($254M, +196.0%)

*ratio of Exports(‘15.Jan.~September) by region : Asia(45.7%), Europe(21.1%), North America(16.4%)Central and South America(14.2%)

☐ (Imports, September, '15)$104M(MoM -1.2%, YoY -18.0%)

o Sub total of Imports (Jan.~ September, '15) $1,073M(YoY -4.3%)

- Asia($708M, YoY +0.9%), North America($45M, YoY -8.7%),
 Europe($313M, YoY -14.6%)

*ratio of Imports(‘15.Jan.~September) by region : Asia(65.7%), Europe(29.4%),
 North America(4.3%)

*￦ : Korea Won, $ : US dollar, B= Billion,  M=Million

[SIMTOS Story] What Exhibits Do SIMTOS Visitors Have Interests in?

[SIMTOS Story] What Exhibits Do SIMTOS Visitors Have Interests in?

  

SIMTSO visitors have interests in products related to metal processing.

SIMTOS`16 organized 6 different themed pavilions – KINTEX 1: Metal Cutting & Die • Mold Working Parts, Materials & Motion Controls, KINTEX 2: Tools & Related, Equipment, CAD/CAM Measuring Systems, Automation & Robotics, Cutting-off & Welding, and Press & Metal Forming.

SIMTOS`14 had 10 million visitors. They concerned not only machine tools but also field of manufacturing process related to metal processing, and actually visited.

<SIMTOS 2014 Visitors’ interested exhibits>

28% of them work in demand companies which belong in the field of Automotive, Aviation, Shipbuilding, Electric•Electronic, IT, and Etc.

92% of SIMTOS`14 visitors work in manufacturing related industry, and 28% of them work in demand companies which belong in the field of Automotive, Aviation, Shipbuilding, Electric•Electronic, IT, and Etc. Also, visitors from relevant industry – Robots, New Materials, Heavy Industry, Semi-conductors, and etc - were there. Thus, SIMTOS become ‘Wished-for Manufacturing Exhibition”.

64.4% of visitors purchased immediately.

According to statistics, 64% of SIMTOS visitors are authoritative enough to purchase the exhibits, and 45% of them are Designers, Engineers, and R&D managers who affect purchasing decision. And 86.2% of SIMTOS visitors rated ‘Beneficial’ for the satisfaction survey.

[Amazing Korea] S. Korea leads global R&D spending: OECD

S. Korea leads global R&D spending: OECD 

 

 

 South Korea boasts one of the world's leading infrastructures for science development, with its spending on research and development (R&D) far higher than those of other countries, a Paris-based organization for economic cooperation said Monday.

  The country's expenditure on R&D came to 4.15 percent of its gross domestic product in 2013, hovering above its members' average of 2.4 percent, according to the OECD Science, Technology and Industry Scoreboard. It marked a two-fold growth from the 2.2 percent posted in 1995. The country spent 59 trillion won (US$52.7 billion) in conducting R&D activities in 2013, up 3.8 trillion won from a year earlier. The figure includes figures from both the public and private sectors.

  Israel, meanwhile, was the top-slot country by spending 4.21 percent of its GDP on R&D over the cited period, it said. The OECD report added South Korea boasted leadership in 11 of top 20 fast-growing technology segments, or "disruptive technologies," including the human interface for digital data transfer, which allows users to activate devices through voice or other non-traditional methods. Other key achievements of South Korea included its patents in the IoT and big-data segments. The country accounted for 14.1 percent of the global patents in the fields over the 2010-2012 period, it said.

"Korea's lead is built upon strong education in science, technology, engineering and mathematics disciplines, with the highest percentage of tertiary graduates in natural sciences and engineering in the OECD area," the organization said.

  The OECD, meanwhile, said South Korea still needs to make more efforts in improving the availability of the Internet for the elderly. While the organization estimated 80 percent of South Koreans were online on the back of the rising penetration of smartphones, the access to the Internet for those aged 55 and above hovered below the average of the OECD. The OECD also cited South Korea's creative economy policy as one of the significant global approaches to innovations.

 The creative economy calls for merging various industry segments to generate new growth engines, which usually focus on utilizing the ICT for different segments.

  The announcement came in line with the OECD Ministerial Meeting Daejeon 2015, World Science & Technology Forum that runs from Monday through Friday in Daejeon, a city packed with science institutes located 164 kilometers south of Seoul.

  

 

Source :http://english.yonhapnews.co.kr/business/2015/10/19/0501000000AEN20151019007800320.html

 

 

[Amazing Korea] Foreign investment in Korea is on the rise

Foreign investment in Korea is on the rise

 

 Foreign direct investment (FDI) in Korea is recovering, data from the Ministry of Trade, Industry and Energy showed on Sunday. Through the third quarter of this year, FDI amounted to $13.27 billion, down 10.5 percent compared with a the same period last year, but recovering from a 30 percent drop in the first quarter of this year. The trade ministry said FDI during the third quarter alone, of $4.4 billion, was in line with $4.48 billion during third quarter of last year.

“Given that the rise last year was due to big cross-border merger and acquisition in September, the third quarter’s numbers are quite solid,” the ministry said.

 FDI during the first quarter was $3.56 billion and the second quarter was $5.32 billion. FDI on actual arrival basis was $10.8 billion won through the third quarter of this year, up 9.0 percent year-on-year, breaking the psychologically significant $10 billion mark.

“The significant $10 billion mark was broken in the shortest period ever this year, and I think this will signify rising foreign interest in Korea-related investment to other foreign investors who are interested in Korea” said Choo So-ryeong, a trade ministry official. This was also more than the five-year average of $10.3 billion on a reported basis and $6.31 billion on actual arrival basis. The increase was due to a rise in service and construction related investments.

 The ministry said it was also seeing the plans for investment reported by foreign investors taking place “smoothly and according to plans.”

 Looking into segments, the service industry saw $8.9 billion investments through the third quarter, up 3.5 percent year-on-year, led by Chinese Anbang Insurance Group’s $1 billion buyout of Tong Yang Life Insurance.

 Construction sector related investments spiked by 812.2 percent to $1.42 billion.

 But manufacturing sector saw a sharp decline in FDI, to $2.95 billion, down 51.3 percent year-on-year, due mostly to last year’s one-off spike in FDI from big M&A deals.

 However, FDI in the manufacturing sector was still on the rise looking at this year’s trends, from $390 million in the first quarter of this year to $1.85 billion in the third quarter. Investments from China increased significantly, with the FDI from China amounting $1.53 billion, up 48 percent year-on-year. Investment from Japan declined 27 percent to $1.2 billion, while the U.S. fell 4.0 percent to $2.98 billion.



Source : http://koreajoongangdaily.joins.com/news/article/Article.aspx?aid=3009891

[Amazing Korea] Korea’s ICT Industry Reached Record-high Trade Surplus Last Month

Excess of Export Korea’s ICT Industry Reached Record-high Trade Surplus Last Month

 

 

 

 

 The Ministry of Science, ICT & Future Planning announced on Oct. 13 that Korea’s ICT exports increased by 1.6 percent year-on-year last month to US$15.9 billion, the highest level since the beginning of this year. It added that the country’s ICT imports for Sept. increased by 1.4 percent from a year ago to US$7.77 billion, and the trade surplus reached a new high.

 Korea showed positive export growth in the ICT industry for two months in a row in spite of market research firm Gartner’s prediction that the global ICT market is likely to shrink by 4.9 percent this year and the fact that overall exports from Korea posted a decrease of 8.3 percent last month.

 The remarkable performance was led by digital TV suppliers as well as mobile phone and semiconductor exporters. Digital TV and component exports, which continued to fall year-on-year during the first eight months of this year, recorded an increase of 9.3 percent to US$610 million in Sept., while mobile phone and semiconductor exports rose 34.1 percent and 0.8 percent to US$2.83 billion and US$5.86 billion, respectively.

 On the contrary, the exports of display products declined 14.5 percent to US$2.68 billion, and those of computers and auxiliary equipment fell 9.0 percent to US$600 million during the same period.



SOURCE : http://www.businesskorea.co.kr/news/money/12470-excess-export-korea%E2%80%99s-ict-industry-reached-record-high-trade-surplus-last-month#sthash.mWFwTWtx.dpuf