Another Good Year

KOAMI Chairman Kim projects dynamic increase in machinery exports this year

The Korea Association of Machinery Industry is excited and encouraged to start the New Year because we feel hopeful that the year of hog would bring many good things to people, said Kim Dae-joong, the chairman of the association in his New Year speech. The association held a New Year reception for member firms at the Cosmos Hall of the DLI 63 building Jan. 10.
Dignitaries that participated in the gathering included Vice Minister of Commerce, Industry and Energy Kim Jong-kap, Chairman Lee Hee-beom of the Korea International Trade Association, and President Chung Hae-joo of the Korea Space Industry Association, among others.
Chairman Kim recalled that the country's exports totaled over $300 billion for the first time in history and the machinery industry played a key role in the gigantic achievement with automobile and machinery industry recorded $97 billion in exports with surplus of $32 billion. The breathtaking record would not have been possible without the bone-shearing effort of every one who work at the industry and the government support. We at the association has had busy year last year. We held three exhibitions in Changwon and Seoul and an international exhibition in Beijing and participated in a number of international machinery exhibitions in foreign countries including Thailand, and Malaysia to show off the excellence of the Korean machinery and with great results.
The association also has done a lot to open up the machinery markets in BRICs to build a base for our machinery firms to make advances overseas. We also published a cartoon entitled, "Looking at the machinery industry through cartoon,"to deepen the public awareness of the industry throughout the country. The association held a vendor seminar to help our SMEs to make advances into the Middle East, along with a business tie-up with KOTRA over exports of machinery made by the general machinery industry by exploring overseas markets and create demand for machinery ad help open up sales channels for machinery on a continuing basis.
As a result, general machinery, which is called a flower of the machinery industry, recorded exports amounting to $25 billion with $800 million in surplus last year, becoming a loyal son for the country's trading sector, a locomotive for economic growth.
We expect to notch a further growth this year with our markets in India and China expanding, with Russian machinery market ready to be opened up for us this year, expanding overseas market for our machinery.
The KOAMI plans to select small and medium-sized machinery makers extend financial support to develop new machinery technology and find export markets for their products through expanded global marketing business.
The machinery industry is sailing with a full wind because all of you who work at the industry is on board, sweating day and night for the development of the industry.
Chairman Kim said he hopes that all of those in the position that can help the industry including government officials and related industries would continue to extend their love and concern to the industry in the New Year.
Team head Nam Ki-man of the Machinery/Aviation Team of the Ministry of Commerce, Industry and Energy, said the machinery industry is a core basic industry for all industries playing a key role in the development of the national economy. Automobile, semiconductor, and other industries depend on the machinery industry for the high quality of their products. He said the government plans to upgrade the competitive edge of the machinery industry to foster it as a key export industry under its mid-long-term development plan called, "reform strategy to upgrade competitiveness of the general machinery industry(MAIN-V 2015). The plan's ultimate aim is to expand machinery exports to reach $80 billion by 2015 with a surplus of $20 billion. In order to do that, the localization of production facilities, innovative infrastructure build-up, and developing new export engine should be among the three largest strategies centered around 11 tasks envisaged by the government.
Upgraded quality, improved image and exploration of new markets, along with cooperation with the government will help machinery exports continue to grow this year, too, said team head Nam. The government will continue to push for the development of technologies for nucleus production equipment and create demand for local machinery. nw

Dignitaries at the New Year reception held by the Korea Association of Machinery Industry on Jan. 10.
They included MOCIE Vice Minister Kim Jong-kap, Kim Dae-joong, chairman of the Korea Association of Machinery Industry, Kwon Young-yual, chairman of Hwacheon Machinery Works Co., and KITA Chairman Lee Hee-beom.