Korea Industry Fair 2011 Committed to Spreading Convergence

Hosts six simultaneous exhibitions at the expanded KINTEX

The first Korea Industry Fair 2011, which ran for four days at KINTEX in Goyang, north of Seoul, from Sept. 28 to Oct. 1, served as an opportunity to get a glimpse into the current status and future prospects of industrial convergence and inter-disciplinary technology
True to the fair's theme, "Convergence! The World beyond Technology," the exhibition showcased a wide range of convergence and inter-disciplinary products and technologies from Korea and abroad.
Korea Industry Fair 2011 was a combination of the existing six exhibitions, including the Korea Machinery Fair 2011 (KOMAF 2011), organized by the Korea Association of Machinery Industry (KOAMI); the Seoul International Tools Exhibition 2011, organized by the Korea Tools Industry Cooperative; and the Seoul International Electric Fair 2011, organized by the Korea Electrical Manufacturers Association.
The simultaneous hosting of the six exhibitions was timed with the opening of the expansion of KINTEX, which has now grown into a world-class 110,000-square-meter exhibition space.
About 1,660 companies from 38 countries participated in the exhibitions. The Korea Industry Fair 2011 turned out to be a success with an estimated 5.46 billion won worth of negotiations held and contracts signed as well as 2,400 buyers and 103,000 spectators.
The fair was assessed for contributing to spreading awareness toward convergence and interdisciplinary technology among machinery industry infrastructure. A special pavilion designed to display a wide range of products and technologies from research institutes and SMEs was given a strong reception during the fair because spectators were given a glimpse into the present and future of convergence and interdisciplinary technology in Korea and abroad.
KOAMI Chairman Chung Ji-taik said, "KOAMI will do its utmost to help Korea rise to among the global top five machinery powers by nurturing technology manpower and ramping up marketing activities in the emerging markets. To this end, government support is badly needed on top of the private sector's efforts." He made the remark while taking a look at the exhibits of the fair on Sept. 28.
The global machinery market is dominated by Germany, Japan, the United States, China, and France. Korea now ranks ninth in the world.
Chung said Korea imports most of its semiconductor production equipment, even though the nation is a global semiconductor production power, and Korea takes up a less than 1 percent share in the global photovoltaic power equipment market. "The nation will have to put forward its fullest efforts to improve the trade balance and create jobs," he noted.
The Machinery Financial Cooperative, headed by KOAMI Chairman Chung, offers debt guarantees to firms specialized in the root areas of the machinery industry such as the parts & materials sectors, welding, plating, casting, and heat treatment. The cooperative plans to provide financial support with 5 billion won in debt guarantees to 50 firms during this year and raise the guarantee amounts to 100 billion won in 2015 and to 500 billion won in 2020.
Chung urged the government to provide massive support to foster the local parts and materials industries. Recognizing the need for support for the parts and materials industries, he said, the government will have to come up with substantial aid in the form of financial support. nw

(from top, left, clockwise) Minister of Knowledge and Economy Choi Joong-kyung delivers a speech during an opening reception of the first Korea Industry Fair 2011 and the second expansion of KINTEX in Goyang, north of Seoul on Sept. 28. Yoon Jong-yong, center, chairman of Korea Electrical Manufacturers Association is briefed on the Seoul International Electric Fair, 2011 at the KINTEX on Oct. 18. Dignitaries push the button for the opening of the second exhibition hall of KINTEX on Oct. 18.

Photos on courtesy of KINTEX