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June 26, 2024 by Leave a Comment
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Exports Continue to Be Positive for Eight Consecutive Months

Last May, Korea’s trade balance recorded a surplus of US$4.96 billion, the highest in 41 months. Major export items such as semiconductors, automobiles, and exports to China are clearly recovering and returning to normal.
According to data recently released by the Ministry of Trade, Industry and Energy (MOTIE), the nation’s exports last month were $58.15 billion, while imports amounted to $53.19 billion, and the trade balance thus recorded a surplus of $4.96 billion.
Exports remained positive for eight consecutive months, and the trade balance reached its highest level in 41 months since December 2020 ($6.7 billion).
This achievement includes the nation’s major export items such as semiconductors and automobiles. Semiconductors recorded $11.38 billion, up 54.5% year-on-year, and continuing a favorable trend for seven consecutive months. Automobile exports also reached $6.49 billion, breaking the record for the highest performance in May ever.
Exports of displays (15.8%), wireless communications (9.4%), and computers (48.4%) also increased, recording export plus for the third consecutive month in all IT items following the previous month.

In addition, exports of 11 out of the 15 major export items increased ― including computers, wireless communications, petrochemicals, automobiles, petroleum products, ships, bio-health, home appliances, and textiles.
Exports to China, which had been sluggish, are also showing signs of recovery. Exports to China reached $11.4 billion, the highest in 19 months since October 2022. Exports to the United States also recorded the highest performance in May ever, reaching $10.9 billion, increasing for the 10th consecutive month.
By region, seven regions, including the United States (15.6%) and China (7.6%), showed an increase. As exports are becoming brisk again, there are optimistic prospects for the nation’s annual economic growth rate to continue growing.
Korean exporters are continuously seeking to expand their business territories in the latter half of this year – and thus to elevate their global awareness in world markets.
For the 6th issue of Korea Buyers Guide, we are about to introduce some Korean exporters with globally competitive export items.


 
 
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Best Summer Beach Destinations

May 27, 2024 by Leave a Comment
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When the summer sun beats down relentlessly, nothing feels more refreshing than diving into the cool ocean. The best beaches in Korea offer more than just swimming, though. Imagine riding a train with picturesque views, and eating the freshest seafood you’ve ever had at a beachside food stall! Enjoy exciting water sports, and then recharge in a café or bakery nearby. No matter your travel style, these top beach destinations have it all!

In Busan & Gyeongsang Province

Haeundae
Haeundae Beach is Korea’s most representative beach! Haeundae Beach is unlike other beaches in Korea in that the sandy shore stretches between the sea and tons of tall buildings, creating a beautiful view that becomes even more stunning when the sun sets!
The area around Haeundae Beach also has plenty of attractions, including Busan X the SKY observatory, Haeundae Blue Line Park, and the lush forest of camellia and pine trees on Dongbaekseom Island.

Gwangalli
Gwangalli Beach is unique in that the horizon appears to be doubled, due to Gwangandaegyo Bridge. The beach is easy to reach using public transportation, and is surrounded by fun things to do, drawing in a steady stream of visitors.
Gwangalli Beach is even more beautiful at night, with the lights of Gwangandaegyo Bridge twinkling on the horizon. On Saturdays, you can see Korea’s largest drone show, the Gwangalli M Drone Light Show. The beach is also the venue for the annual, must-see Busan Fireworks Festival.

Uljin
For a truly unique beach experience, hop aboard the Jukbyeon Coast Sky Rail, one of the 100 Must-Visit Tourist Spots for 2023-2024. The monorail covers a course of 2.8 km, showing interesting points such as “Heart Coast,” named for its double-curved coastline, a famous filming site, and a lighthouse. Stop by the nearby Jukbyeon Port for fresh seafood.

In Gangwon State

Gangneung
The lush forest of pine trees that grows along the sandy shore makes Gyeongpo Beach charming. Enjoy a leisure stroll on the deck walking trail as it waves back and forth between the sand and the pine forest. There are also many facilities for tourists, including restaurants, accommodations, and even campgrounds, making this beach popular among younger travelers.
Anmok Beach is well-known thanks to its proximity to Gangneung Coffee Street. The street is lined with coffee shop after coffee shop, each with its own unique ambiance. The street itself is so popular, it has been listed on KTO’s 100 Must-Visit Tourist Spots in Korea many times! The cafés all face the beach, offering great views from their second-floor seating and higher.

Sokcho
Sokcho Beach is popular among visitors all year round with a range of attractions, including a walking trail through a pine forest, flower paths, and photo spots. It is also extremely easy to reach on foot, just a five-minute walk from Sokcho Express Bus Terminal, making it a top pick for tourists. This short distance means you can also enjoy the tasty foods that are available in downtown Sokcho.
The Sokcho Eye, a 65-meter-tall Ferris wheel, is another attraction of Sokcho Beach. The first Ferris wheel in Korea to be built next to the beach, it offers views of the ocean to one side and Seoraksan Mountain to the other. At night, enjoy the LED performance as it lights up the beach.

Yangyang
Naksan Beach is known as the beach that BTS member V visited. It’s a great spot to visit if you enjoy walking, as there is a forested trail that follows the 2-kilometer-long beach. The beach itself has a shallow bay, suitable for swimmers of all ages. Vacationers can enjoy a comfortable trip with surrounding amenities including cafés, convenience stores, restaurants, and accommodations. If visiting, be sure to include a stop at the nearby Naksansa Temple, one of the Eight Scenic Sites of Gwandong.

On Jeju Island

Hamdeok
Hamdeok Beach is one of the best beaches to see the beautiful emerald-colored sea around Jeju. The beach is popular among locals because of its fine sand and shallow waters. Seoubong Parasitic Cone rises up next to the beach to create a special landscape; in spring, the hillside is covered in yellow canola flowers. If you follow the walking trail up Seoubong, you can take in the full view of the area, including the restaurants, cafés, and hotels that stand next to the beach.
After fun at the beach, enjoy a refreshing drink at a nearby café. Café Delmoondo in particular stands right on the beach with ocean-view seating. They roast their own coffee beans and offer a range of desserts. The outdoor terrace is also a great photo spot!

 

 •The above article is courtesy of VisitKorea, the official website of the Korea Tourism Organization (www.visitkorea.or.kr)


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Korea’s Exports Increase for Seven Months

May 27, 2024 by Leave a Comment
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The nation’s exports in April recorded a double-digit increase. It has been ‘export-plus’ for seven months. This is thanks to the increase in exports of key items such as semiconductors, automobiles, etc.
In particular, semiconductor exports surged 56% compared to the same month last year. By country, exports to the United States reached an all-time high. The trade balance has also been in surplus for 11 consecutive months since June of last year.
The Ministry of Trade, Industry and Energy (MOTIE) recently announced that exports in April amounted to US$56.26 billion (about KRW 78 trillion), a 13.8% increase compared to the same month last year. Imports increased 5.4% over the same period to $54.73 billion. The trade balance, which subtracts imports from exports, was $1.53 billion.
In April, exports of 13 of the 15 major export items increased. This is the largest number of item exports this year.
Information and communication-related items such as semiconductors, displays, computers, and wireless communication devices recorded positive scores for all items for two consecutive months. Combined exports also achieved the highest growth rate of 46.6% this year and continued to increase for six consecutive months.
Semiconductor exports, the largest export item, recorded $9.96 billion, the second highest ever in April. It increased by 56.1% compared to the same month last year, recording positive exports for six consecutive months.

Display exports increased by 16.3% compared to the same month last year, to $1.43 billion, recording the highest performance of the year and increasing for nine consecutive months. Exports of computer SSDs (76.2%) and wireless communication devices (11.4%) also recorded the highest growth rates this year, increasing for four and two consecutive months, respectively.
Automobile exports increased by 10.3% compared to the same month last year, breaking a record-high export amount. It recorded $6.79 billion in exports, surpassing the previous biggest record of exports in November last year ($6.53 billion).
Exports of general machinery turned positive in just one month, reaching an all-time high of $4.68 billion (1.5%) as of April. Ship exports also increased by 5.6%, showing positive growth for nine consecutive months.
Biohealth exports recorded a double-digit growth rate (21.3%) for the first time this year. Exports are positive for six consecutive months. Petroleum products (19.0%) increased for two consecutive months.
Exports increased in seven of the nine major export regions. In particular, exports to the United States recorded $11.4 billion, showing a 24.3% increase compared to the same month last year, the highest export amount ever, breaking the record in December last year ($11.3 billion) in four months.
Exports to China recorded $10.5 billion, a 9.9% increase compared to the same month last year. Exports to the nation increased for two consecutive months, exceeding $10 billion, following $10.5 billion last March.
Exports to Central and South America (38.2%) showed the highest growth rate among the nine major regions, recording a positive figure for four consecutive months. Exports to ASEAN (10.5%), Japan (18.4%), India (18.0%), and the Middle East (1.0%) also increased compared to the same month last year.
Imports in April amounted to $54.73 billion, up 5.4% from the same month last year, as both energy and non-energy imports increased. It has increased for the first time in 14 months since February 2023.
Imports of energy amounted to $12.5 billion, showing a total increase of 14.6% due to increased imports of crude oil (17.8%) and gas (21.9%). Import volume increased by 12% for crude oil and 37% for gas due to the increase in refinery operation rates and increased demand for gas for power-generation and industrial purposes. Imports of non-energy recorded $42.23 billion, up 2.9%.

  
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JEC World 2024

May 27, 2024 by Leave a Comment
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Wrapped up with the realization of net-zero ambitions with composites

JEC World 2024, held in Paris, France, closed its doors after three vibrant days of intense business activity, expertise- and knowledge-sharing, highlighting the contribution of the composites industry to a more sustainable world, as well as its growth potential.
The 2024 edition was the biggest JEC World ever, attracting 43,500+ professional visitors from more than 100 countries, and 1,300 exhibitors ― and featuring seminars, workshops, live demos, and insights from hundreds of industry visionaries.

JEC World, the Industry Think Tank
During the first JEC Summit on Building & Infrastructure on March 4, as well as during the three days of the show, public authorities, industry leaders and visionaries contributed to making JEC World the composites industry Think Tank, where sustainability and circular economy principles were raised by all participants.
From representatives of NEOM’s ‘Land of the Future’ to the European Commission policy officer who presented “The EU Green Deal 2050,” and from the aeronautics industry’s decarbonization roadmap presented by Airbus and Safran, to the International Olympic Committee’s call for partners to help the sports industry achieve its sustainable objectives, and the final highlight View From the Top, where Peter Huntsman, CEO of Huntsman Corporation, shared his vision on strategies for the composites industry ― at JEC World, the converging efforts of all stakeholders, heading toward a sustainable future, created a global statement and a source of inspiration for all.

Three Country on Stage conferences gave attendees the opportunity to get to know the characteristics, trends and strategies of the composites’ ecosystems in Italy, Belgium, and France.
Representatives of many other countries also participated in the event: Foreign Ministers, French Ministerial Delegates, Ambassadors, and other representatives from 16 countries visited the show as part of official delegation tours. Among them were representatives from Austria, Canada, Czech Republic, Germany, India, Japan, Portugal, Slovakia, Spain, Taiwan, Türkiye, and the United States.

JEC World, the must-attend business platform of the composites industry
In 2024, JEC World showcased its position as the leading event for the global composites industry, with the renewed presence of participants from all the continents, last seen in the pre-Covid times.
The whole value chain gathered in Paris for this “festival of composites”: a source of inspiration for all professionals who wish to tackle sustainability challenges, and develop lighter, smarter and more durable composite solutions. Gathering as many global companies as SMEs under one roof, the event also presented a selection of start-ups resulting, in a lively environment for networking and business opportunities.
Powered by a dedicated business meetings platform developed and optimized for the composites industry, the JEC Business Meetings Program enabled over 8,000 face-to-face meetings during the three days – an increase of 13% over 2023, demonstrating the dynamism of the industry.

JEC World, where innovation meets industry
With more than 600 product launches during this year’s show, JEC World remains the best place to introduce new developments to the global market. The JEC Composites Innovation Awards recognized 11 collaborative achievements, reflecting the industry’s dedication to providing new solutions for all application sectors of composites.
For its 7th edition, the JEC Composites Startup Booster competition, now firmly established as the leading competition for startups in the advanced materials sector, awarded three companies from France, Denmark, and the USA, respectively, for their impressive market potential.

The new Live Demo zone was particularly visible on the show floor, and was well attended over the three days. This new feature, highlighting automated and robotized processes, including large-scale additive manufacturing technologies, together with more than 100 machines available at exhibitors’ booths, made the JEC World experience unique.
All in all, JEC World was an event not to be missed ― for participants to discover inspiration, celebrate the dynamism of the industry, and shape a sustainable future. With confidence, 54% of the exhibition space has already been booked for the next edition that will take place from March 4 to 6, 2025.
Exhibitors and attendees have provided very positive feedback about the quality of the exhibition, verifying the success, once again, of this pinnacle event of the industry.

 
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ROBOTIS Enters the North American Market with New Actuator

May 27, 2024 by Leave a Comment
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ROBOTIS Co., Ltd., a company specializing in self-driving robots, participated in Automate 2024, which was recently held in Chicago, USA, and introduced a new actuator, ‘Dynamixel-Y,’ to the North American market.
Using this opportunity as a starting point, ROBOTIS aimed to actively target the U.S. automation equipment and robotics market by leveraging the powerful performance of its new actuator, Dynamixel-Y.
ROBOTIS is supplying products to various companies, including major customers in the United States such as the National Aeronautics and Space Administration (NASA), Disney, etc., and is highly recognized.
According to local industry officials, many American companies welcomed the news of the launch of Dynamixel-Y, which delivers more powerful performance. With the growing expectations for the expansion of the automation parts and robotics market, it is expected that there will be a positive impact on new product sales.
The Automate exhibition is North America’s largest automation technology solution exhibition that has been held since 1977. It is an event where global companies in fields including automation equipment, machine vision, and robotics participate to showcase their products and new technologies and build networks. For Automate 2024, more than 750 companies from 100 countries participated in this exhibition, attracting more than 30,000 visitors.
At this exhibition, ROBOTIS exhibited and promoted its products in general, including its main products ― robot actuators and cycloid reducers. At the same time, ROBOTIS interacted with existing partners and held active face-to-face meetings to discover new partners.
In particular, the recently launched Dynamixel-Y is a robot actuator series that integrates its own advanced technology. It is a core component that is essential for the construction and operation of various high-tech industries and automation systems and processes as it supports electronic brake function, high speed, high torque, and precise position control ― centered on a high-performance frameless motor. Based on 100% in-house technology, ROBOTIS takes charge of everything, from design to manufacturing.
For this reason, it is expected that the new product will have high market competitiveness, in that it can respond to various environments and variables by enabling quick and easy customization for customers.
“We plan to actively pioneer the North American market based on our high awareness and positive industry reputation in that market,” adding, “We will make our utmost efforts to implement localization of K-robot and automation technology and further achieve remarkable results in the global market,” stressed the CEO of the company.

 
 
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Stick Carton Automatic Packaging Machine

May 27, 2024 by Leave a Comment
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INQ. NO. 2405M14] HANDOK AUTO MACHINE CO., LTD., a first-generation automatic packaging machine company, introduced the stick carton automatic packaging machine at the recently held Korea Pack 2024.
This product is equipped with an Auger-type servo motor, allowing the filling amount to be adjusted according to the number of rotations. It is possible to change the content without replacing the ‘volume cup.’ When a packaging line is configured for one item, this product has a ‘counting’ function, so the number of configurations in one carton can be changed to suit the user.

A spokesperson for the company explained, “If you were to do an additional event for two units of a 10-pack product, manual work was required after machine packaging. However, by using this function, you can reduce the burden on manpower by simply changing the machine’s numbers.”
He continued, “Companies looking for packaging machines often rate price comparison as their top priority, but I have often seen cases where they purchase machines only believing in unverified specifications and then regret it later,” adding, “We also uses precision parts from Germany, Japan, etc. We are providing packaging machines that are sufficiently proven because there are many cases of introduction of those machines. When equipment has a long lifespan and a low failure rate, product demand will improve and stable production technology will be secured.”
HANDOK AUTO MACHINE is a first-generation packaging machine company that has been producing tablet automatic packaging machines since 1952. The company began manufacturing products in the 1950s by transferring technology from France and Japan, and has been supplying packaging machines to the domestic market for over 70 years. As the domestic market is limited, it has been mainly targeting overseas markets in recently years.

HANDOK AUTO MACHINE participated in Korea Pack 2024 to introduce its proven products and create new opportunities for business.

 
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Industrial Automation Devices

May 27, 2024 by Leave a Comment
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Industrial Automation Devices

[INQ. NO. 2405M13] CIMON CO., LTD. leads the automation industry, offering an extensive lineup of innovative, industry 4.0-ready automation products such as PLCs, HMIs, SCADA software, and industrial PCs.
CIMON’s automation solutions have been successfully implemented across diverse industries, such as automotive, power plants, semiconductors, water/wastewater, electronics, oil and gas, and more.
CIMON offers not only complimentary technical support and training to its clients, but also fosters long-term partnerships, and ensures short lead times, while offering tailored solutions. Its products are affordable and highly reliable due to in-house manufacturing.

PLC series for general automation fields
CIMON’s PLC series provides innovative solutions not only for general automation fields but also for enterprise information integration. CIMON’s various PLC lineup consists of the UP series, CP series, PLC-S series, and Micro-S series to accommodate multiple applications. Among these exclusive lineups, the compact all-around PLC-S series is designed to be the most cost-effective unit in the PLC world. It provides high-level performance and rock-solid reliability for small-scale industrial automation systems.

Xpanel/HMI for intuitive designing software
CIMON’s Xpanel/HMI offers proven reliability for any industrial environment, and intuitive designing software for rapid project development. It is equipped with a high-speed industrial-grade CPU to handle complex scripts and graphics processing with ease.
CIMON’s XT/iXT series, based on the Win CE Operating System, utilizes the XpanelDesigner software for programming and comes in a variety of sizes: 4.3”, 7”, 10.4”, 12.1”, and 15.” The nXT and eXT series are powered by an embedded Linux platform, featuring robust hardware with 1GB RAM, 4GB storage, a quad-core CPU, and dual ethernet ports.

SCADA/UltimateAccess for enterprise information integration
CIMON’s SCADA software is designed with the utilities and flexibility that allows users to build innovative and efficient automation systems based on their specific application requirements. CIMON’s focus on open connectivity means there are multiple ways to interface with a host of other devices.
Extensive communication protocol support allows ultimate access to be used in diverse industrial environments. In addition, comprehensive libraries, user-friendly interfaces, and industry-relevant features provide an optimal environment for SCADA project development.

Industrial computer device (IPC) for any industrial environment
CIMON IPC is an industrial computer device that runs on Windows/Linux OS and an Intel Celeron and core series CPU in fanless design.

  
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Pipe Connectors

May 27, 2024 by Leave a Comment
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[INQ. NO. 2405M12] SAMYOUNG FITTING Co., Ltd. was established in 1989 and has been working on a single manufacturing technology for some 31 years, gaining a leading position as a global supplier both at home and abroad thanks to its outstanding technology.
SAMYOUNG FITTING is responding to current market conditions through the diversification of its customers and technologies.
Through continuous development, the company is able to stably extend, supply, and meet the gradually increasing demands of both domestic and overseas markets, and newly acquired customers.

Pipe Connectors Based on International Standards
SAMYOUNG FITTING mainly manufactures pipe connectors such as forged fittings, sleeves, flanges, etc., in accordance with international standards (ASTM, ASME, BS, JIS, ANSI, MSS, etc.).
SAMYOUNG FITTING is continuously providing different product groups for each of the following industries: nuclear power plants; shipbuilders at home and abroad; offshore; chemical companies; oil refineries; and constructors.

SAMYOUNG FITTING supplies custom-designed drilling & machining equipment for forged fittings, elbows, tees, automatic machining technologies, deep hole processing machines used to produce sleeves and atypically-sized pipes for the marine shipbuilding industry, high-speed cutting technology for large-sized pipes, and other core technologies.
Carbon steel, alloy steel, stainless steel, duplex steel, ni-base alloy steel, Cu-ni alloy, titanium and other materials are used for such products.
Founded in 1989, SAMYOUNG FITTING has evolved from being a local specialist to a global player. SAMYOUNG FITTING is a premium supplier of forged-fitting in the field of power plants, oil & gas, offshore, and the shipbuilding industry. It offers its customers outstanding products by applying its complex technologies.

  
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Hydraulic Hose Fittings

May 27, 2024 by Leave a Comment
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[INQ. NO. 2405M11] Since its founding in 2001, Hansol Tech Co., Ltd. has been building up various technologies and know-how on hydraulic systems used for construction equipment, shipbuilding, offshore plants, and so forth.
Starting from a business relationship with Japan-based Tokai Rubber in 2004, Hansol Tech recently made another business tie-up with Sumitomo Riko in 2021, while continuing to advance into foreign markets for more than 12 years. As a supplier, the company is also succeeding in win-win business cooperation with Hyundai Heavy Industries at home.
Based on its know-how built up through continuous technical researches and parts manufacturing, the company is planning to achieve the goal of “ZERO” defect rate, and meet the needs of customers as much as possible. All workers including the management will strive to continuously improve product quality and productivity.

Hydraulic hose fittings used for construction equipment, heavy equipment, industrial machines, agricultural machines, etc.
A hydraulic hose fitting, as a hydraulic line part used for construction equipment, heavy equipment, industrial machines, agricultural machines, etc., consists of a hose connector and a coupling, which are needed to operate a hydraulic machine.
Many countries around the world are expanding SOC products to respond to their economic downturns caused by COVID-19. In this sense, it is a proper time to secure new markets thanks to a possible surge in demand for construction equipment.
The company’s hose connector is mainly used for wire-braided hose. As for parts used for hose connectors, Hansol is producing straight fittings, elbow fittings, adapter, etc. And steel, stainless steel, brass, etc. are used as the main materials for making such hose connectors.


 
 
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Regulators

May 27, 2024 by Leave a Comment
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[INQ. NO. 2405M10] UNILOK Corporation succeeded in localizing stainless tube fittings in 1984, for a nation that previously depended entirely on imports of such fittings.
Since then, UNILOK, which has steadily developed in the field of pipe fittings for instrumentation, is gaining wide recognition, not only in Korea but also in 40 countries abroad, in the field of pipe fittings and valves for instrumentation.

High-clean regulators for semiconductor, photovoltaic, and secondary battery industries
Regulators are key components of fluid systems, and they help maintain the customer’s desired system pressure and flow, which have a significant impact on productivity and safety. UNILOK stably produces and supplies high-clean regulators for the semiconductor, solar, and secondary battery industries.
The regulators produced by UNILOK have been verified for performance in the demanding fluid system field through rigorous testing, and maintain excellent product stability.

Supplying a varied lineup of regulators to global markets
UNILOK has a varied lineup, including non-tied type RC series, tied type RCTS series, non-spring tied type RCT series, and springless type RCI series — and supplies them to the important fluid lines of various global customers.
UNILOK is devoting all its efforts to continuous technology promotion, huge investment in technical manpower in technology development, and discovery of new technology, new information, and new culture. All of its employees are preparing to build the best position in the world market in the rapidly changing 21st century by practicing one mind with customers in unity.

 
 
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