Over 90 Korean companies to participate in Hannover Machinery Fair

Over 90 Korean companies to participate in Hannover Machinery Fair

Korea’s machinery industry, except for the shipbuilding industry, is expected to be in a gradual phase of recovery of exports and production this year based on the steadily growing economy in advanced countries including the United States, the EU, and Japan.

Meanwhile, such potential factors as the persistent low yen, the possibility of decreased investment in the Middle East, and the insufficient recovery of the Chinese economy are poised to negatively hinder the recovery of the domestic machinery industry.

According to an analysis by the Korea Association of Machinery Industry (KOAMI), for the nation’s five major machinery industries, except the shipbuilding industry for 2015, production and export are expected to record 467.4 trillion won (4.8%) and 194.4 billion won, respectively, with a trade surplus of $86.66 billion. For general machinery, production and exports are also poised to record 104.6 trillion won (3.0%) and $4748 billion, each, with surplus of $9.94 billion.

Hannover-Machinery-Fair According to the Association, this year’s machinery industry will be more positive than that of last year, but it is expected that there will be many negative factors facing the industry due to the slow recovery of the economy. Despite the export of Korean-made items to the markets of the United States, Europe, and Japan that are expected to continue at a good pace, if the trend of the low yen is prolonged, Korean items’ competition with those of Japan is expected to become even fiercer in global markets. Moreover, the recent sharp decrease of international oil prices is expected to become a strong factor weakening the investments by Middle East oil exporters.

Amid such forecasts, it is anticipated that more than 90 companies, the greatest number of companies except the 219 companies in the year of 2009 at a time when Korea’s companies participated in the exhibition exhibitors of partner country of the fair, will exhibit their cutting-edge product solutions and related technologies during the fair to be held from April 13 to 17, 2013, in Hannover, Germany. This year’s Korean makers will fully use the fair which will be composed of ten kinds of concurrent subevents for such major themes as industrial automation, MDA, energy, wind, mobiliTec, comvac, research & technology, digital factory, industrial supply, surface technology, so that it will be a most desirable venue for global companies including those from Korea to exchange each related section of new technologies, future industry, innovative ideas, and latest trends.

By joining in the global largest-scale machinery industry fair, Korean makers are expected to take advantage of the ample opportunities to intensify technological cooperation, especially with European counterparts, reinforce European recognition of Korea’s advanced technology level in the machinery field, further explore European markets and facilitate European investment in Korea.

korean-machinery.com | Blog Magazine of korean-machinery, brands and Goods

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