SIMTOS Keeps Growing
in Size and Quality

Exhibition attracts 80,000 visitors, hundreds of exhibitors from around the world

More than 400 exhibitors from 24 countries showcased their latest machine tools as well as robots, automation and metal forming machines at the just-ended 13th Seoul International Machine Tool Show 2008 (SIMTOS 2008).
SIMTOS 2008, held at KINTEX from April 8-13, was the largest ever in Korea in terms of the number of exhibition booths and exhibition space, according to the organizer, the Korea Machine Tool Manufacturers'Association (KOMMA). The 13th SIMTOS 2008 was held in a space of 53,541 sq. meters at KINTEX. The 433 companies that participated used 34,056 sq. meters in net space and 3,784 booths, attracting about 80,000 visitors. This is an increase of 13.8 percent compared to the previous exhibition in 2006.
It was remarkable that more overseas exhibitors, especially from China and Taiwan participated in SIMTOS 2008. With the participation of world renowned machine companies, SIMTOS 2008 not only raised its international stature but also became the machine tool exhibition which highlighted the current state of the world's machine tool market. The combined size of the booths of foreign exhibitors from Korea's archrivals like Taiwan, China and Germany surged 80 percent at SIMTOS 2008 and foreign exhibitors accounted for 298, or 70 percent of the total exhibitors.
Among those on hand at the opening ceremony held on April 8 at the exhibition were Prime Minister Han Seung-soo, Minister of Knowledge Economy Lee Youn-ho and Gyeonggi Province Gov. Kim Moon-soo as well as foreign ambassadors staying in Korea.
The prime minister said, "The government will step up its R&D support for integrating IT technology into the machine tool industry to make it more value-added while aggressively luring foreign parts and materials powerhouses to invest in domestic companies."He also said during his meeting with businessmen on the sideline of the exhibition that the domestic parts and materials sector cannot secure a world-class competitive edge unless Korea has world-class factories and machinery.
KOMMA has hosted the Seoul International Machine Tool Show biennially for the development and prosperity of the domestic machine tool industry. This show made its debut in 1984 and has been the biggest machinery exhibition in Korea.
SIMTOS 2008 was selected as one of eight leading exhibitions in Korea in the machinery sector by the Ministry of Knowledge Economy and the government of Gyeonggi-do.
BIGGER KINTEX, BETTER SIMTOS
Recently, the Korean government announced plans to develop the Korean exhibition & convention industry. One of policies related to the development of the exhibition & convention industry is to have a larger, more well-equipped exhibition venues, in the same league as other international exhibition venues throughout the world.
KINTEX's current site of 225,000 sq. meters (indoor size of 53,541 sq. meters) is already Korea's largest convention facility. KINTEX plans to leap ahead as a world-famous convention center by constructing a second convention center. The second center site is 200,566 sq. meters with a projected exhibition size of 54,200 sq. meters. Construction will start next year and is expected to be completed in 2011. The completion of the second center will fulfill the world-scale exhibition inducement condition of 100,000 m2 and will be a foothold for KINTEX to move ahead as a global leader.
Not only were machine tools exhibited, but also various conferences related to the technologies of machine tools were hosted during SIMTOS 2008. For overseas visitors who came to Korea, the SIMTOS 2008 Secretariat operated the International Lounge during the exhibition.
SIMTOS 2008 held a trade meeting, targeting the niche markets of machine tool products. Manufacturing technology delegations from Turkey, Thailand, India and Malaysia attended the International Business Meeting on April 9 and 10.
OUTLOOK
The Korean machine tool industry grew in 2007 as machine tool exports increased at a consistent rate. The overall production of Korean machine tools is estimated at US$4.55 billion, an increase of 10.7 percent from 2006. Machine tool exports amounted to $1.82 billion, up 27.4 percent from 2006. Exports to China, Europe and the United States, as well as niche markets like India, have also been favorable. Those markets have shown double-digit increases for five consecutive years. On the other hand, machine tool imports have increased only slightly compared to the increase of production and exports, which was caused by contracted investment in domestic facilities. Imports increased by 4.1 percent, reaching $1.35 billion.
The domestic major machine tool-demanding industries in Korea are typically limited to the automotive industry and general machinery industry. It is very remarkable that machine tool demand in the shipbuilding industry increased by 11.6 percent in 2007, up from'5.6 percent in 2006.
Outlook for 2008 Remains Positive
As the growth rate of the world economy is expected to slow, the increasing rate of exports is also expected to be relatively sluggish. On the other hand, the domestic market is expected to recover somewhat in 2008. nw

The 13th Seoul International Machine Tool Show 2008 attracted 433 exhibitors from Korea and abroad, which showed off the latest machine tools and equipment.

VIPs cut the tape to open SIMTOS 2008 at the KINTEX in Goyang, north of Seoul April 8-13. They included Prime Minister Han Seung-soo, Minister of Knowledge and Economy Lee Youn-ho and Ryu Hung-mock, chairman of the Korea Machine Tool Manufacturers'Association.