KOAMI Aims for $40 Bln in Exports in 2009

Members of KOAMI resolve to beat tough economy and achieve the export target

The Korea Association of Machinery Industry (KOAMI) held a New Year's reception Jan. 13 at the 63 Building in Yeouido, Seoul, with some 300 people in attendance including high-ranking government officials led by Minister Lee Youn-ho of the Ministry of Knowledge Economy, Rep. Chung Jang-seon, chairman of the National Assembly Knowledge Economy Committee and executives of leading machinery companies.
Chairman Kim Dae-joong said in his New Year's speech at the event that the machinery industry is going through tough times due to the economic crisis, but the industry should redouble its efforts to overcome the difficulties and move up the ladder of progress by maximizing production and upgrading quality through management policies dedicated to maximizing profits.
The industry leaders at the event resolved to achieve $40 billion in exports this year, fight off the economic downturn and play a key role in the development of the national economy.
In order to achieve the target, the industry will focus its capacity on making it a nucleus export industry, maximize productivity and promote fusion with the IT industry and develop environmentally friendly technologies to lead the green-growth low-carbon paradigm being pushed by the government.
Kim said the machinery industry has played a central role in the growth of the national economy as a key industry, producing and supplying capital goods that are needed in production activities throughout the country.
He went on to say that the industry is where it is today because many people in the industry were able to overcome various tough situations in the process of growth, yet it is faced with tough times again due to the global economic crisis.
"We in the industry can fight back against the difficulties with an undaunted spirit and belief that we can put the industry back on track as a super first-class industry and continue to play a core role in economic development," Kim said.
Therefore, the association adopted the following New Year's resolutions;
First, the industry will turn itself into a super first-class knowledge-based industry to lead the growth of the national economy;
Second, the industry will support the government's policies to develop world-class high-tech machinery and core parts and materials so that the industry will continue to lead in the export of Korean products;
Third, the industry will make efforts to cut costs and make its structure more effective to maximize productivity and upgrade the value-added portion through the fusion of IT in order to achieve the export target of $40 billion in machinery products;
Fourth, the industry will lead the green-growth low-carbon industry by producing machinery and parts for solar energy and wind power plants, facilities for renewable energy installations and environmentally-friendly products and technologies;
Fifth, the industry will continue to carry out autonomous restructuring to be more profit-oriented and to attract foreign capital and stabilize management-labor relations through harmonious efforts through sharing jobs and the creation of stable employment conditions;
And lastly, the industry will never buckle no matter how difficult the challenges are and it will do all it can to overcome them and ask for, at the same time, full government support for the industry.
The chairman said the Hanover Industrial Fair 2009, in which Korea will participate as a partner country, will be a huge opportunity for the Korean machinery industry to make itself known to Europe. The annual event, the largest such event in the world, will provide opportunities for Korean machinery producers to expand their market, as it is the so-called "Machinery Olympics."
KOAMI will act as the organizing office as a partner of the event and will display some 200 machinery products and technologies from small machinery makers and research units in Korea, in addition to sponsoring technology seminars, investment attraction sessions and other supplementary events on the sidelines of the fair.
KOAMI will take advantage of the Hanover Industrial Fair to make Korean machinery and technology known throughout the world, shunning the image that Korea is a net importer of advanced machinery technologies from countries like Germany and implant the image that Korea is a technological partner for global industrialization and cooperation. nw

CEOs of member firms of the Korea Association of Machinery Industry raise their arms to resolve to go for $40 billion in exports for this year at a New Year's reception hosted by KOAMI Jan. 13 at the 63 Building in Yeouido, Seoul.