KMAC Joins KICOX to Foster
Parts and Materials Firms

The two corporations sign an MOU on cooperation

Korea Materials & Components Industry Agency (KMAC) has teamed up with Korea Industrial Complex Corp. (KICOX) to foster core, mid-size parts and materials companies.
KMAC President Kim Dong-chul inked an MOU on collaboration in fostering core, midsize, parts and materials companies with KICOX President Kim Chil-du on May 14.
Under the agreement, KMAC's program designed to provide support with parts and material companies will be linked with KICOX's project aimed at creating innovative clusters within state-run industrial complexes.
To this end, the two corporations decided to join forces in developing a network comprising of parts and material companies, strengthening capabilities by supporting technology development and exploring priority areas necessary for securing core technologies under strategic perspectives.
The agreement calls for, among others, cooperation in working out government policies designed to foster parts and material industries, providing support and cooperation in improving technology power of each company, assisting in building up network, promoting exchanges of latest developments via business explanation sessions, training programs and forums, promoting exchanges abroad in a bid to facilitate companies'attraction of foreign investments and globalization and promoting exchanges of information concerning expertise manpower, equipment and patents at home and abroad.
The corporations plan to help parts and materials companies improve their competitive edge and evolve into core SMEs. The beneficiaries are 7,214 parts and materials companies located within seven exemplary innovative clusters as the end of March.
KMAC President Kim said, "The global industry paradigm is shifting from finished products to parts and material products, and countries are concentrating on parts and materials sectors to preoccupy futuristic markets."He expressed the hope that the agreement would provide a crucial momentum to foster core, midsize parts and material companies.
I-MANUFACTURING. Under a Korean version of i-Manufacturing, devised by the Ministry of Commerce, Industry and Energy, parts and materials will be regrouped into innovative clusters to conduct joint R&D, production, logistics and marketing projects under a pilot program.
The two corporations plan to draw up mid- and long term plans aimed at fostering core, midsize parts and material companies by June. They plans to conduct a joint survey into the needs of the newly developed parts and material technologies by the end of this year, while trying to work out the details of the plans, including the selection of areas necessary for joint technology development, exclusive departments charged with business collaboration and budget during next year.
KICOX President Kim said, "Industrial complexes with bountiful corporate information and the two corporations versed in parts and material industry innovation will joint forces in implementing government policies designed to foster core, midsize parts and material companies."He added that efforts will be made to solve technological barriers SME experience in securing source technologies and provide assistance in the marketing of their products and manufacturing process innovation.
In a related development, the MOCIE early this month announced a mid- and long-term plan to cultivate 300 core, midsize parts and material companies by 2010 and secure top 50 parts modules and top 50 source technologies that could preoccupy the future markets. nw

KMAC President Kim Dong-chul holds an MOU on collaboration in fostering core, midsize, parts and materials companies with KICOX President Kim Chil-du on May 14.