[SIMTOS Story] Tool & Related Equipment (Hall9, KINTEX2)

 Tool & Related Equipment (Hall9, KINTEX2)

Korea Technics Ltd. – Launching high-performance KSD drill


 Korea Technics Ltd.specialized in hole making would introduce high-performance KSD drill and RB-boring tool supporting various insert in SIMTOS 2016. In addition, they are planning to show HSD-V drill with diameter Φ13 ~ Φ80 possible cutting depth as more 2 ~ 4 times than diameter,
STD-V drill, VLT drill possible cutting depth as more 5~8 times than diameter, VMD drill with diameter Φ45~Φ180 possible cutting depth as much as you want, various tooling system and accessories.

Stand no. 09F640 Tel. 82-32-673-1818 Website www.koreatechnics.com


Main Products Drill, Milling cutter, Arbor

Demand Industry  Shipbuilding, Automobile, Fabricated Metal/Stampings

Main Customer  Hyundai Automobile, Shinra Engineering

  
   

[Amazing Korea] Technology Hub at Center of Northeast Asia

Technology Hub at Center of Northeast Asia

 

 

Korea is an understated country. Maybe that is the reason why one of Asia's most active research and development clusters nestled away in Daedeok Valley has not received the attention internationally of a Silicon Valley. Perhaps the researchers here are simply too busy doing their research in the Korean workaholic style to step back and think about how to publicize their abroad. Or perhaps Koreans still imagine themselves as lagging behind the more "advanced" nations of the world. But in this age wherein Samsung and Hyundai have become global players across multiple fields, and Korea's leading edge in ship building, mobile communications and steel production draws attention, Daedeok Valley is also stepping into the spot light.

When Korean President Park Jung-hee started construction on the science park back in 1974, he had a clear purpose: moving the research centers of Korea, then just starting on the road to high-tech stardom, down to Daedeok Valley in Daejeon far away from North Korea and the dangerous DMZ. But his advisors also had come to believe that the concentration of research institutes in this scenic region would create the mutual stimulation would benefit everyone. Since then the research community has expanded rapidly, with now close to 8,000 Ph.D.s in the sciences working in the valleys between the green hills of Daejeon. In fact many researchers have become so accustomed to the Daedeok environment that they have no particular desire to move.

Most clusters in Asia are new and therefore their roots are rather shallow. Shenzhen or Malaysia's research corridor simply lack the long term institutional maturity to conduct advanced research. Daedeok is quite a different story. Here we find considerable flexibility and innovation, but at the same time sufficient continuity to support a broad research and development effort.

The Daedeok Innopolis ecosystem can be conceived of as six overlapping rings: universities (dominated by KAIST and Chungnam National University), research institutes, government and government-invested institutions, corporate research institutes and venture corporations. The mutual stimulation and cooperation between these six different communities produces remarkable innovation and commercialization of available technologies. When the Boston Consulting Group released recently a list of nations leading in innovation, Korea was ranked number two, just below Singapore. Daedeok Innopolis stands on the front line of Asian innovation, setting the pace for Asia and the world.

Japan's Tsukuba Science town is the only other cluster

Among Daedeok Innopolis' universities KAIST (Korea Advanced Institute of Science and Technology) is considered the top technical university in Korea and one of a handful with global reach in East Asia. Strong fields at KAIST include computer science, electrical and nuclear engineering, mechanical design, chemistry and telecommunications. The national university Chungnam University also plays a central role in those fields, but brings also focused expertise in biotechnology, medicine and the agricultural sciences. These universities are complemented by such outstanding universities as Hanbat University (a leader in IT), Pai Chai University, Hannam University, Mokwon University and Woosong University.

Korea Advanced Institute of Science and Technology

Research institutes in Daedeok include the Korea Research Institute of Bioscience and Biotechnology (KRIBB), the Korea Atomic Energy Research Institute (KAERI), Electronic and Telecommunications Research Institute (ETRI), the Korea Aerospace Research Institute (KARI), National Fusion Research Institute, National Nanofab Center, Korean Basic Science Research Institute, Korea Institute of Machinery and Materials, Korea Research Institute of Chemical Technology, Korea Institute of Science and Technology Information, Korea Research Institute of Standards and Science, Marine and Ocean Engineering Research Institute, Institute for information Technology Advancement, Korea Institute of Geosciences and Mineral Resources, Korea Institute of Energy Research, Agency for Defense Development, Korea Institute of Toxicology, Korea Institute of Oriental Medicine, Korea Institute of Nuclear Non-proliferation and Control, National Institute for Mathematical Sciences, Korea Institute of Nuclear Safety and the National Security Research Institute. Among the outstanding technology produced in Daedeok are ETRI's wireless communications systems CDMA, WIBRO & DMB, KRIBB's nano biochips, KARI's KOMPSTAT satellites and NFRI's KSTAR nuclear fusion reactor.

Daedeok is also home to twenty-one corporate research centers with global reach surrounded by an equal number at smaller firms. Some of the notable corporate research centers are Dongbu Advanced Research Institute, (biotechnology, microorganisms and agrichemicals), GS-Caltex Value Creation Center (environmentally friendly products including substitutes for oil), Hanwha Chemical Research (biotechnology, electronics materials, catalysts & nanotechnology), Honam Petrochemical Daeduk Research Institute (synthetic chemistry & petrochemicals), LG Chemical LTD. Research Park (Lithium Ion Battery & Polymer Battery Development), Samyang R&D Center (medical Research and electronics) and SK Institute of Technology (petroleum-related research).

Also such public corporation research institutes as Korea Electric Power Research Institute (hydroelectric projects and nuclear energy), Korea Institute of Construction Materials (authorized test agency for construction materials), Korea Institute of Aerospace Technology (aerospace design, satellites, launch technologies) are also part of the Daedeok ecosystem.
The cross-fertilization between research fields in Daedeok encourages innovation and collaboration. Over the last 15 years, venture companies have sprung up like mushrooms after a spring rain, numbering over 800 at last count. Some of those companies have gone on to become major players and others are coming of age today.
 


Daedeok is often referred to as the "Silicon Valley of Asia" but this analogy risks obscuring the full range of technologies available here. The engine driving Daedeok is the organic circulation of ideas about technology and business between policy makers, researchers and businessmen working in the fields of telecommunications, nanofabrication, biotechnology, water, nuclear and hydro power, nuclear fusion, design, measurement technologies, mechanical engineering, fuel cells, aeronautics, new materials, robotics, new drugs and environmental technologies. Daedeok is exceptionally well endowed in all these fields and is expanding its international ties rapidly. Daedeok Innopolis' membership includes 898 corporations, 35 government invested and sponsored institutions; 6 universities; 15 public organizations.

Moreover, comparison to Silicon Valley con be quite misleading. Daedeok is far more diverse and ecosystem than simply IT. For example, Daedeok is a world leader in nuclear power with outstanding

Daedeok Innopolis refers to the remarkable collection of R&D centers and venture companies that have congregated in the green hills of Daedeok Valley, north of the city of Daejeon in the Republic of Korea. The research institutes and the venture companies constitute one of Asia's top innovation clusters for technology. Daedeok Innopolis derives its power it ability to effectively innovate, an organic and fluid ecosystem for creativity . The research institutes and universities in Daedeok Valley have spun off multiple start-ups and continue to do so at a remarkable pace. Unlike many other clusters one hears about, Korea has invested heavily in building up both the research expertise for over thirty years, creating long-term research programs of scale and depth. There are over seven thousand with Ph.Ds in the sciences in Daedeok and state-of-the-art infrastructure is in place that enables Daedeok to play a leading role in the world. That gives Daedeok the depth and the institutional continuity to conduct first-class research.


Intekplus's semiconductor package inspection systems, Hanool Robotics's remarkable cleaning robots, Menix Corporation's mobile security systems, RayCan's next generation lasers and ABC NanoTech's ceramic nano powder are just some of the products produced by the startlingly diverse panoply of venture companies that thrive in the ecosystem surrounding KAIST, Chungnam University, and the government and corporate research institutes.
The city supports one of the fastest developing business communities with a strong emphasis on technological innovation. The recently opened Daedeok Techno Valley on the north side of town brings together research with light manufacturing to create a unique environment for R&D. The universities and research institutes have set up venture firms here to explore new applications of their technologies. More recently, Daejeon's ACTS (Agency of Advanced Cultural Technologies and Services) has become a Mecca for multimedia entertainment and film.
Daedeok Innopolis has a Business Hub Center to provide one-stob service for possible investors with special facilities for international firms and joint R&D, and plans a Technology Convergence Center and Foreign Investment Complex in the near future.

Source : http://www.koreaittimes.com/story/6028/technology-hub-center-northeast-asia

[Amazing Korea] Cultural experiences in downtown Seoul in 2016!

Cultural experiences in downtown Seoul in 2016!

Seoul Metropolitan Government is offering a diverse range of cultural events for everyone to enjoy with family, friends, or loved ones in 2016.

Parents who wish to give their children special memories during the vacation months should consider taking them to see The Tempest, a musical reinterpretation of Shakespeare’s famous romantic masterpiece. This performance will be held at the Sejong M Theater from January 13 (Tues) to 31 (Sun). Viewers can expect a family-friendly version of the original work that still expresses the same profound emotional depth and meaning. Moreover, each performance of the play will provide English subtitles and a study guide to each audience member, giving them the rare opportunity to enhance their understanding of the play by reading the original text while viewing the live performance. The Tempest is great for not only Shakespeare enthusiasts but also parents who want to give their children more exposure to English. Ticket prices range from KRW 20,000 to 40,000.
Until March 13 (Sun), the Seoul Museum of Art will put the spotlight on the creative world of world-famous movie director Stanley Kubrick. A titan of the movie industry who created some of the most innovative films in movie history, including 2001: A Space Odyssey, The Shining, and Eyes Wide Shut, Kubrick has been paid homage by some of the most eminent movie directors of our time, including Christopher Nolan and Steven Spielberg. Held in Asia for the first time, this exhibition is also significant as it is the largest of its kind to date.

Until February 21, the SeMA Nam Seoul Living Arts Museum will be featuring the SeMA Modern History Project Evolved Museum: The Former Belgian Consulate. The exhibition gives a glimpse into the past and highlights the present of the building that once served as the Belgian Consulate during the Daehan Empire and is currently being used as the Nam Seoul Living Arts Museum. This exhibit provides a unique opportunity to gain a deeper understanding of the rich historic significance of this modern cultural heritage while appreciating its present value as an art museum.

The Sejong Museum of Art is currently holding an exhibition on Paik Nam June, the father of two-way TV communication, titled Paik Nam June: Groove_Heung. This special exhibition sheds new light on the creative world of Paik in commemoration of the 10th anniversary of his death and will be open to the public until January 29. On Fridays and Saturdays during the exhibition period, informal lectures will be held on Paik’s work. As the meaning behind Paik’s artwork is often difficult to grasp at first, the Museum is permitting visitors to view the exhibition on two separate occasions with one ticket.

Until March 13, the Seoul Museum of History will be holding Gyeonghuigung Palace Still Lives, an exhibition outlining the 400-year history of the palace that was deeply treasured by Kings Yeongjo and Jeongjo. Having served alongside Changdeokgung Palace as one of the two main palaces of the royal family in the late Joseon period, Gyeonghuigung Palace and its history will be presented in detail through over 200 relics, including stone statues and palace records. This exhibition is an opportunity for visitors to get a glimpse into the extensive history of this remarkable palace.

Until March 27, the DDP Design Museum will be holding the fifth segment of The Treasures of Kansong : Flowers, Birds, and Animals in Korean Painting. The paintings of flowers, birds, insects, and fish featured in this exhibition show that this genre was just as popular with ancient Koreans as landscape and portrait paintings. Featuring the most representative artworks from a period that spans 500 years, from the reign of King Gongmin in late Goryeo to the time of artist Lee Do-hyeong in late Joseon, the exhibition will show visitors the differences in painting styles across multiple generations.

SOURCE : http://www.whowired.com/news/articleView.html?idxno=407657

[Amazing Korea] Korea to Boost Economic Cooperation with Iran

Korea to Boost Economic Cooperation with Iran

 

  

The Ministries of Trade, Industry & Energy, Strategy & Finance and Land, Infrastructure & Transport announced on Jan. 21 that they voted for a plan for the promotion of business in Iran so that joint-stock automobile companies can be established in Iran and cooperation projects can be launched in the shipbuilding and port industries of the country where economic sanctions were recently lifted.

The plan includes financing assistance for more plant construction orders from Iran, cooperation in production by means of a complete knockdown and the like, and collaborations between the Korean and Iranian governments. In the automobile industry, joint-stock companies are to be set up and models are to be developed with Iranian manufacturers. At the same time, business conferences and forums are held so that more Korean medical equipment and agricultural machinery manufacturers can find opportunities in the Middle Eastern country.

Iran’s feasibility studies regarding port development are to be supported by Korea and IR sessions are organized as well. Furthermore, the cooperation between the two countries is expected to the take the form of the resumption of ICT cooperation committee activities, assistance for the penetration of the halal food market, a customs mutual assistance agreement, and other projects. Business agreements are to be scheduled with regards to healthcare policy, hospital design and medical system coordination, too.


Export factoring and forfeiting are to be utilized for the export of more products, while a framework agreement worth 5 billion euros (US$5.4 billion) will be concluded for financial assistance in the fields of hospital establishment, power generation and so on. Also, a dollar-covering settlement system will be introduced, while Korean banks are allowed to set up branches in Iran.


SOURCE : http://www.businesskorea.co.kr/english/news/money/13653-business-promotion-iran-korea-boost-economic-cooperation-iran

Korean Machine Tool Market Trend in October

Koean Machine Tool Market Status (October, 2015)

 
☐ (Orders) ‘15. October  Machine Tool Order ￦1,968B(MoM -5.8%, YoY -34.4%)
o (Domestic Orders) ￦1,347B(MoM -4.8%, YoY -15.4%),
   (Export Orders) ￦621B(MoM +8.0%, YoY -56.0%)

o (By product)
NC Metal Cutting(￦1,532B, MoM -8.4%)
Metal Cutting (￦107B, MoM +6.5%), 
Metal Forming(￦ 328B, MoM +3.7%)

o (By industry)
Automobile(￦532B, MoM -25.6%),
Steel‧Nonferrous Metal(￦85B, MoM +226.5%), 
Machinery(￦205B, MoM -5.7%),
Electric‧Electronics‧IT(￦163B, MoM +23.7%)

*Metal products(￦136B, MoM +48.9%), Shipbuilding‧Aviation(￦83B, MoM +41.7%),
 Precision Machinery(￦15B, MoM +64.4%)

o Machine Tool Orders(January ~ October) ￦27,856B(YoY -10.4%)
 (Domestic Orders) ￦ 14,288 B, YoY -8.6%,
 (Export Orders) ￦13,569B, YoY -12.3%

☐ (Production) ‘15, October Machine Tool Production ￦2,659B(MoM +11.2%, YoY +3.6%),
   Shipment ￦2,637B(MoM +7.0%, YoY -12.1%)

o Machine Tool Production(January~October, 2015) ￦28,672B(YoY +2.5%)
o Machine Tool Shipment(January~October, 2015) ￦27,575B(YoY -3.1%)

☐ (Exports, October, '15) $192M(MoM +24.6%, YoY +12.6%)
o Sub total of Exports (Jan.~October, '15) $1,976M(YoY +8.2%)

- By Region
Asia($905M, YoY+10.8%), North America($334M, YoY -3.2%), Europe($424M, YoY -17.3%), Central and South America($262M, +179.4%)

*ratio of Exports(‘15.Jan.~October) by region : Asia(45.8%), Europe(21.5%), North America(16.9%)Central and South America(13.3%)

☐ (Imports, October, '15)$105M(MoM +1.7%, YoY -7.4%)

o Sub total of Imports (Jan.~ October, '15) $1,178M(YoY -4.6%)

- Asia($789M, YoY +0.7%), North America($49M, YoY -7.1%),
 Europe($330M, YoY -16.5%)

*ratio of Imports(‘15.Jan.~October) by region : Asia(67.0%), Europe(28.0%),
 North America(4.2%)

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

[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] 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.



[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

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

[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

[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