MOCIE Finds 55 Firms Hike Sales 32 Pct
- Under its program to support small parts, material suppliers

The Ministry of Commerce, Industry and Energy(MOCIE) found out that small and medium parts and material makers(55) have been able to boost their sales(exports) and the level of technology far above expectations in a survey the ministry conducted recently, Kim Dong-soo, director of the Capital Goods Policy Division of the Capital Goods Bureau, said. In the case of the trust quality assurance certificate business, the annual sales of the companies with the certificates contacted increased 207 percent to 202.8 billion won after they obtained the certificates from 97.9 billion won in sales before they got the certificates.

The sales would have jumped to 240 billion won taking into consideration 127 firms. In particular, Mando Co. shipped $1.4 billion worth of shock absorbers to General Motors. MPS Co. sold 10 billion won worth of lithium batteries for mobile phones at home and $2.3 million in exports.

Youngwha Industry's oil pump saw its breakdown rate fall to 5 percent from 15 percent; Sangshin Brake Co.'s brake pad earned the first-class recognition from its buyer Mando Co. in its valuation of cooperative firms. Otis-LG's pellet used by its escalators has been able to merge the R-mark standard and the European Union specification and thus save 300 million won in required expenses.

In the meantime, MOCIE provided 4.5 billion won to companies under its first business project for small parts and material makers for them to boost their trustworthiness. The companies increased their sales by 32 percent due to support received with exports rising 36 percent.   nw