Contacts by name
Park, Hee Cheol 02-3459-0011 Director General
Shin, In Ho 02-3459-0018 Director of Business Division
Exhibition Business Department
Kang, So Ahn 02-3459-0019, the general manager, SIMTOS
Yim, Jeong Cheol 02-3459-0022 Management of SIMTOS Exhibitors
Park, Charles 02-3459-0020 Exhibition management, Korean pavilion, Buyer delegations
Lee, Kate 02-3459-0023 Overseas exhibitors & buyers, international marketing
Kang, Bonnie 02-3459-0024 Publicity Campaign of SIMTOS, Media Network management
Bong, Hyeon Keun 02-3459-0034 SIMTOS application & management system, webmaster
Yeon, Eric 02-3459-0025 SIMTOS Membership management
Administration Department
Kim, Hyeon Moo 02-3459-0026 Financial affairs, annual general meeting, board meeting
Kim, Yoo Seang 02-3459-0027 HR, accounting affairs, members’ management
Economic Survey & Public Relation Department
Moon, Dong Ho 02-3459-0012 Research of Industry & Policies, PR, Trade mission]
Won, Jae Hoon 02-3459-0035 Research of machine tool industry & market
Park, Do Yoon 02-3459-0014 Subscribers’ management(website users) Machine Tool data
Technical Survey & Standard Cooperation Department
Kim, Kyeong Dong 02-3459-0015
Technical Survey, matters of strategic materials, Tax reduction, Policies’
research for technologies, machine tool standardization
Lee, Sang Yeob 02-3459-0016 Industrial Robots, Information exchange(Seminar/Committee)
Wednesday, August 12, 2009
Thursday, May 28, 2009
Big spending plan unveiled to foster new growth engines
The Korean government unveiled a big spending plan Tuesday (May 26) to foster the country's new growth engines that can fuel the economy in the future.The government said that it plans to spend 24.5 trillion won (US$19.4 billion) over the next five years to develop 17 sectors belonging to three key new growth engines including green technology, high-tech convergence and value-added services that can fuel the country's long-term economic growth, creating new business and job opportunities. In detail, the sectors to get governmental support include advanced fuel cells, clean transportation, convergence, robotics, biotech, nuclear energy and advanced information technology (IT).In addition, money will also be poured into fields that are yet not competitive on the global market, such as healthcare and software, because the government says it views that such sectors can easily catch up with those in other advanced industrialized countries, and thus have high potential to eventually lead future markets. To effectively execute the spending plan, the government and business community intend to share R&D information and detailed plans.The spending plan is expected to create 700,000 new jobs and establish 300 small and medium enterprises by 2013.By Han Aran
Korea.net Staff Writer
[source] www.korea.net [read the original article]
Wednesday, May 20, 2009
[The Korea Times] Production Diffusion Index Hits 11-Month High
05-06-2009 19:19
Production Diffusion Index Hits 11-Month High
By Lee Hyo-sik Staff ReporterThe nation's diffusion index for industrial production exceeded 50 in March for the first time in 11 months, adding to growing optimism that the Korean economy has hit bottom and is laying the foundation for an upturn.According to the National Statistical Office (NSO) Wednesday, the diffusion index covering 165 manufacturing and services sectors stood at 56.7 in March, up from 45.2 in the previous month. It means 56.7 percent of 165 industries produced more than they did in February, while the remaining 43.3 percent cut output.The index remained below 50 for the past 11 months since May of last year and it fell to as low as 27.6 in January.``The diffusion index acts like a leading indicator for economic conditions in six to nine months. The index over 50 tells us that the majority of industrial sectors have begun producing more compared to past months, further raising expectations that the world's 13th largest economy may start rebounding in the second half of the year,'' an NSO official said.In March, after adjusting for seasonal factors, the nation's industrial output rose 4.8 percent from February, rising for the third straight month. Additionally, key indexes measuring current economic conditions and the future outlook rose together for the first time in 14 months.Korea's current account surplus reached $6.65 billion in that month, the largest since the Bank of Korea began compiling the data, while gross domestic product grew 0.1 percent in the first quarter of the year from the preceding quarter, compared to a 5.1 percent contraction in the last quarter of 2008.The manufacturers' diffusion index stood at 62.2 in March, up from 38.5 in February, rising for the second straight months, with that of the services industry increasing to 51.3 from 49.4.Among manufacturing sectors, makers of cigarettes, and visual and audio products produced more than in February for the third consecutive month, while textile and 19 other businesses reduced output.In the services industry, food and beverage retailers and 12 other businesses saw an increase in sales for the three straight months. But sellers of construction materials and 17 other sectors recorded a fall in output.
[출처] [The Korea Times] Production Diffusion Index Hits 11-Month High (SIMTOS2010, 서울국제공작기계전) 작성자 youngjean2
Production Diffusion Index Hits 11-Month High
By Lee Hyo-sik Staff ReporterThe nation's diffusion index for industrial production exceeded 50 in March for the first time in 11 months, adding to growing optimism that the Korean economy has hit bottom and is laying the foundation for an upturn.According to the National Statistical Office (NSO) Wednesday, the diffusion index covering 165 manufacturing and services sectors stood at 56.7 in March, up from 45.2 in the previous month. It means 56.7 percent of 165 industries produced more than they did in February, while the remaining 43.3 percent cut output.The index remained below 50 for the past 11 months since May of last year and it fell to as low as 27.6 in January.``The diffusion index acts like a leading indicator for economic conditions in six to nine months. The index over 50 tells us that the majority of industrial sectors have begun producing more compared to past months, further raising expectations that the world's 13th largest economy may start rebounding in the second half of the year,'' an NSO official said.In March, after adjusting for seasonal factors, the nation's industrial output rose 4.8 percent from February, rising for the third straight month. Additionally, key indexes measuring current economic conditions and the future outlook rose together for the first time in 14 months.Korea's current account surplus reached $6.65 billion in that month, the largest since the Bank of Korea began compiling the data, while gross domestic product grew 0.1 percent in the first quarter of the year from the preceding quarter, compared to a 5.1 percent contraction in the last quarter of 2008.The manufacturers' diffusion index stood at 62.2 in March, up from 38.5 in February, rising for the second straight months, with that of the services industry increasing to 51.3 from 49.4.Among manufacturing sectors, makers of cigarettes, and visual and audio products produced more than in February for the third consecutive month, while textile and 19 other businesses reduced output.In the services industry, food and beverage retailers and 12 other businesses saw an increase in sales for the three straight months. But sellers of construction materials and 17 other sectors recorded a fall in output.
[출처] [The Korea Times] Production Diffusion Index Hits 11-Month High (SIMTOS2010, 서울국제공작기계전) 작성자 youngjean2
Korea Stays 14th in GDP Table
05-14-2009 [The Korea Times]
By Yoon Ja-youngStaff Reporter
Korea remains the 14th-biggest economy in the world in terms of gross domestic product (GDP), according to a new report.
In the World Development Indicators 2009, the country's GDP stood at $969.8 billion as of 2007, the 14th largest among 188 countries, making up 1.78 percent of globally aggregated GDP.
The country's per capita gross national income (GNI) stood at $19,730.
Korea rose to become the world's 11th-largest economy in 2002 and 2003, but slid to 14th in 2006 and stayed there the following year.
``While Korea recorded stable economic growth and inflation during the period, Brazil, Russia and India posted high economic growth rates and inflation,'' the central bank said.
The United States was the biggest economy in the world with a $13.8-trillion GDP, 14 times bigger than Korea. However, its stake of the pie is getting smaller. The country took up around 40 percent of the global economy in 1960, but the portion shrank to around one quarter in 2007.
Japan was the second largest economy with $4.4 trillion, 4.5 times larger than Korea, followed by Germany, China and the United Kingdom. Japan had 15 percent in 2000, but the ratio now stands at 8 percent. China was the world's sixth-largest economy in 2000, but its high economic growth rate pushed it up in terms of portion, now taking 6 percent of the total.
Korea saw its real GDP grow by 5 percent in 2007, higher than the global average of 3.8-percent growth. China marked the biggest growth at 13 percent, followed by India at 9.1 percent and Argentina, Venezuela and Russia all at an over 8-percent growth rate.
Korea GNI of $19,730 saw it ranked at 48th among the 209 countries. But the figure is much lower than other developed economies in Asia such as Singapore, which has a $32,340-per-capita GNI, and Hong Kong with $31,560.
The richest people in the world in terms of per capita GNI were the people of Liechtenstein, who had $99,159. The second was Bermuda with $84,159, with Norway next at $77,370.
[read the orginal article]
[출처] Korea Stays 14th in GDP Table (SIMTOS2010, 서울국제공작기계전) 작성자 youngjean2
By Yoon Ja-youngStaff Reporter
Korea remains the 14th-biggest economy in the world in terms of gross domestic product (GDP), according to a new report.
In the World Development Indicators 2009, the country's GDP stood at $969.8 billion as of 2007, the 14th largest among 188 countries, making up 1.78 percent of globally aggregated GDP.
The country's per capita gross national income (GNI) stood at $19,730.
Korea rose to become the world's 11th-largest economy in 2002 and 2003, but slid to 14th in 2006 and stayed there the following year.
``While Korea recorded stable economic growth and inflation during the period, Brazil, Russia and India posted high economic growth rates and inflation,'' the central bank said.
The United States was the biggest economy in the world with a $13.8-trillion GDP, 14 times bigger than Korea. However, its stake of the pie is getting smaller. The country took up around 40 percent of the global economy in 1960, but the portion shrank to around one quarter in 2007.
Japan was the second largest economy with $4.4 trillion, 4.5 times larger than Korea, followed by Germany, China and the United Kingdom. Japan had 15 percent in 2000, but the ratio now stands at 8 percent. China was the world's sixth-largest economy in 2000, but its high economic growth rate pushed it up in terms of portion, now taking 6 percent of the total.
Korea saw its real GDP grow by 5 percent in 2007, higher than the global average of 3.8-percent growth. China marked the biggest growth at 13 percent, followed by India at 9.1 percent and Argentina, Venezuela and Russia all at an over 8-percent growth rate.
Korea GNI of $19,730 saw it ranked at 48th among the 209 countries. But the figure is much lower than other developed economies in Asia such as Singapore, which has a $32,340-per-capita GNI, and Hong Kong with $31,560.
The richest people in the world in terms of per capita GNI were the people of Liechtenstein, who had $99,159. The second was Bermuda with $84,159, with Norway next at $77,370.
[read the orginal article]
[출처] Korea Stays 14th in GDP Table (SIMTOS2010, 서울국제공작기계전) 작성자 youngjean2
Thursday, May 7, 2009
Won-Dollar Rate Hits Year’s Low of 1,262
Won-Dollar Rate Hits Year’s Low of 1,262
By Kim Jae-kyoung Korea Times Reporter
With foreign liquidity conditions improving here, the local currency has been rising at a rapid pace against the U.S. dollar, gaining more than 300 won to the greenback over the past few months.
The Korean won closed at a year's high of 1,262.3 won per dollar Thursday, up 308 won from the yearly low of 1,570.3 won March 2, on the back of improving economic fundamentals, such as the rising trade surplus and a bullish stock market. This was its strongest level in four months since it closed at 1,259.5 won at the end of last year.
The rapid gain in the local currency, however, is giving a headache for policymakers as it provides both upside and downside potentials for Asia's fourth largest economy.Appreciation can be a plus for domestic demand by reducing import costs and stabilizing consumer prices. It also reduces interest burdens at local firms saddled with foreign debts.``
Overall, the strengthening won is expected to have a positive impact on the economy as it will reduce firms' short-term debt burden and curb inflationary pressure,'' said an economist at NH Investment Securities.
The problem is that the won is rising too fast, which can hurt local exporters' competitiveness and thus negatively affect the current account balance that many believe will weaken the upturn momentum in the economy.
``The first-quarter GDP outcome was due to the won's depreciation that led to expansion of automobile and commodity sales in China,'' Independent Economist Andy Xie said in a recent interview.``But the downturn is far from over. The won has bounced back significantly,'' he added, indicating that the economic recovery will not be sustainable if the won keeps gaining strength.
The won's rapid gain came as foreign liquidity conditions have improved significantly thanks to a record current account surplus, the government's recent $3 billion issuance of dollar-denominated bonds and massive liquidity supply by the central bank.The local banks' liquidity in foreign currencies recovered to the pre-crisis level recorded before Lehman Brothers filed for bankruptcy last September.
The foreign currency liquidity ratio of 18 local lenders, which gauges their ability to pay off three-month overseas debt obligations, rose by 7.1 percentage points to 106 percent in February from December.The nation's foreign exchange reserves rose to a seven-month high in April at $212 billion, up from $206.34 billion a month earlier, and the highest since September last year, when it posted $239.67 billion.
Market analysts said that the won-dollar rate will likely continue on an downward trend due to the large current account surplus, rising foreign reserves and a foreign investors buying spree on the local stock market.They expect financial authorities will step in to keep the exchange rate between 1,200 and 1,250 won to help local exporters maintain their competitiveness in the global market.``
We expect the authorities will intervene to support the rate if it breaks the key level of 1,250.
Most people seem to agree that the recent over-performance of Korea's exports can partially be ascribed to the weak won,'' Citigroup economist Oh Suk-tae said.``So policymakers are likely to prevent the excessive or premature strength of the won to maintain the favorable momentum in exports into the second half of this year,'' he added.On Thursday, ING Group economist Tim Condon revised his one-month exchange rate target to 1,225, saying, ``Current and capital flows are local currency-positive and April's big reserve increase shows that the central bank is leaning against the wind of market pressure to replenish some of the $58 billion reserves it lost in the second half of 2008.''Standard Chartered Bank also forecast the won-dollar rate to fall toward 1,170 over the next three months.
Sunday, April 26, 2009
South Korea’s Economy Expands Slightly
South Korea narrowly avoided slipping into recession, and the country’s corporate giant, Samsung Electronics, reported better results than expected for the first quarter — news that provided some relief to an economy that continues to be battered by crumbling exports.
Data for the first quarter, released Friday, showed that the South Korean economy grew 0.1 percent from the previous three months, rebounding from a 5.1 percent slump during the previous quarter and surprising many analysts who had expected a slight contraction.
At the same time, Samsung, the biggest exporter in the nation, reported a sharp drop in profit, but the results topped most analysts’ expectations. That followed a similar picture at the carmaker Hyundai, whose reduced profits, reported Thursday, nevertheless beat expectations.
Frederic Neumann, senior Asia economist at HSBC in Hong Kong, said the growth figures were a “welcome surprise,” and showed that the government’s fiscal stimulus was gaining traction more quickly than forecast.
South Korea has announced billions in tax cuts and spending measures to prop up the economy, while the central bank has cut interest rates by 3.25 percentage points since October.
South Korea’s exports have received relief from the weakness of the won, which has made their goods significantly cheaper for overseas customers.
This was, in part, reflected in Samsung’s and Hyundai’s results.
Samsung, which manufactures computer chips, LCD screens and mobile phones and sells 90 percent of its products outside South Korea, generated a net profit of 619.2 billion won, or $462 million, in the January-March quarter.
That is down 72 percent from a year earlier, but substantially better than analysts had forecast. It also represents a turnaround from the loss seen during the last quarter of 2008.
Demand for chips has been battered by the downturn, but mobile handset sales fared much better than predicted. Earnings at the mobile phone division rose 2 percent, to 940 billion won, and its 12 percent operating margin topped the 10.4 percent margin generated by the handset division at Nokia, an industry rival.
Elsewhere in the region, data from Taiwan on Friday showed export orders down 24.3 percent in March from a year earlier — a smaller decline than in February. In Singapore, which is in a deep recession, industrial production in March slumped 33 percent from a year earlier, more than analysts had expected.
Data for the first quarter, released Friday, showed that the South Korean economy grew 0.1 percent from the previous three months, rebounding from a 5.1 percent slump during the previous quarter and surprising many analysts who had expected a slight contraction.
At the same time, Samsung, the biggest exporter in the nation, reported a sharp drop in profit, but the results topped most analysts’ expectations. That followed a similar picture at the carmaker Hyundai, whose reduced profits, reported Thursday, nevertheless beat expectations.
Frederic Neumann, senior Asia economist at HSBC in Hong Kong, said the growth figures were a “welcome surprise,” and showed that the government’s fiscal stimulus was gaining traction more quickly than forecast.
South Korea has announced billions in tax cuts and spending measures to prop up the economy, while the central bank has cut interest rates by 3.25 percentage points since October.
South Korea’s exports have received relief from the weakness of the won, which has made their goods significantly cheaper for overseas customers.
This was, in part, reflected in Samsung’s and Hyundai’s results.
Samsung, which manufactures computer chips, LCD screens and mobile phones and sells 90 percent of its products outside South Korea, generated a net profit of 619.2 billion won, or $462 million, in the January-March quarter.
That is down 72 percent from a year earlier, but substantially better than analysts had forecast. It also represents a turnaround from the loss seen during the last quarter of 2008.
Demand for chips has been battered by the downturn, but mobile handset sales fared much better than predicted. Earnings at the mobile phone division rose 2 percent, to 940 billion won, and its 12 percent operating margin topped the 10.4 percent margin generated by the handset division at Nokia, an industry rival.
Elsewhere in the region, data from Taiwan on Friday showed export orders down 24.3 percent in March from a year earlier — a smaller decline than in February. In Singapore, which is in a deep recession, industrial production in March slumped 33 percent from a year earlier, more than analysts had expected.
Friday, April 24, 2009
Advance to Korean Machine Tool Market, SIMTOS2010!
SIMTOS2010 will be hosted next year, in 2010. Here is the fact sheet of SIMTOS2010 as follows.
SIMTOS2010 Fact sheet
Title: Seoul International Machine Tool Show 2010 (SIMTOS2010)
Show Dates: 4. 13~18, 2010 [10:00~17:00]
Venue: KINTEX
Exhibit Space: 53,541sqm (G)
Exhibitors: 470 companies from 30 nations, 3,200 booths (28,800sqm)
Visitors: 80,000 persons (Domestic 7,600 Overseas 4,000)
Exhibits:
metal cutting machines, metal forming machines, cutting tools, measuring instrument, Industrial robots, factory automation machines, and other relevant parts/components
Hosted by: Ministry of Knowledge Economy (MKE)
Organized by: Korea Machine Tool Manufacturers' Association (KOMMA)
The Early Bird application deadline is expended to July 31, 2009
and it also requires paying the booth deposit at the same time (July 31, 2009).
You can save 10% discount from total booth rental if you during the period of the early bird application.
For your reference, please find the attached files, the guide to exhibit SIMTOS2010 as well as Korean machine tool industry.
We are offering the information and resources through the online. Their information are linked among those websites.
Official website: www.simtos.org
Community club: http://cafe.naver.com/simtos (especially for Koreans)
Blog: http://simtos.blogspot.com
If you have any questions, feel free to contact Kate Lee(kate@komma.org) or Bonnie Kang(BBogle@komma.org) anytime.
SIMTOS2010 Fact sheet
Title: Seoul International Machine Tool Show 2010 (SIMTOS2010)
Show Dates: 4. 13~18, 2010 [10:00~17:00]
Venue: KINTEX
Exhibit Space: 53,541sqm (G)
Exhibitors: 470 companies from 30 nations, 3,200 booths (28,800sqm)
Visitors: 80,000 persons (Domestic 7,600 Overseas 4,000)
Exhibits:
metal cutting machines, metal forming machines, cutting tools, measuring instrument, Industrial robots, factory automation machines, and other relevant parts/components
Hosted by: Ministry of Knowledge Economy (MKE)
Organized by: Korea Machine Tool Manufacturers' Association (KOMMA)
The Early Bird application deadline is expended to July 31, 2009
and it also requires paying the booth deposit at the same time (July 31, 2009).
You can save 10% discount from total booth rental if you during the period of the early bird application.
For your reference, please find the attached files, the guide to exhibit SIMTOS2010 as well as Korean machine tool industry.
We are offering the information and resources through the online. Their information are linked among those websites.
Official website: www.simtos.org
Community club: http://cafe.naver.com/simtos (especially for Koreans)
Blog: http://simtos.blogspot.com
If you have any questions, feel free to contact Kate Lee(kate@komma.org) or Bonnie Kang(BBogle@komma.org) anytime.
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