Hyundai Motor Group has unveiled a wireless smart tag system to bring its car production a step closer to zero defects by further decreasing human intervention.

The smart tag can control a car manufacturing process in real time wirelessly and requires no need to manually check car types and specifications on the assembly line. Once installed, multiple accessory tools to monitor cars in production such as ultrasound sensors and barcode scanners are no longer necessary, allowing the company to save money, according to Hyundai. Real-time data collection is also expected to enable immediate responses to even a small error.

It is the first time the company is applying the smart tag system. The system was tested and validated at some plants of Hyundai Motor and Kia Motors and will soon be applied to all 34 plants around the world, transforming them into smart factories, Hyundai Motor Group recently announced.

The new technology developed by its production technology development center consists of a high-capacity memory, wireless chip and location-tracking sensor units. It has an embedded magnet, making it easy to attach the device on a steel chassis without tools.

The small-sized tag enables two-way wireless communication between a car on the assembly line and an array of production equipment, sending and receiving key processing information such as car type, shipment destination and stocking order to and from surrounding machines.

A wireless communication chip is thus integral to this system. It uses a frequency band unique to each plant, sharing car production and location data with in-plant equipment. All data are stored on a central server.

< Source: KITA>

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KOFAS Changwon 2017, which is the biggest automation system show in the Youngnam area, was held successfully from June 13 to 16 at CECO to promote creation of demand and expansion of exportation for smart factory, automation-related equipment, facilities and related equipment.

According to the Korea Association of Machinery Industry (KOAMI), (Chairman Jeong Ji-taek), a total of 174 companies from 18 countries participated in the exposition, which was hosted by Gyeongsangnam-do and Changwon city, and along with 19,800 visitors, it succeeded in achieving consultation contracts worth US$480 million.

Under its slogan, ‘Another World Experienced through Automation,’ the exposition could offer opportunities to experience and confirm core technologies of the 4th industrial revolution, such as automation equipment, control & measurement devices, metal working machines, 3D printers for mold & tool, and 3D laser measuring instruments.

A spokesperson for Sechang International, Inc., which showcased a conveyer system for smart factories, said “I could see how much interest there is out there for cutting edge automation facilities in the machine industry through this exposition.”

Moreover at this year’s KOFAS various events were held for visitors, such as ‘Export Consultation for Overseas Vendor Registration PICs,’ ‘Seminar for Smart Factory Establishment Strategy for Small & Medium Companies,’ ‘Machine Technology Seminar,’ and ‘Master Worker Invitational Lecture.’

Han Geun-seok, the manager of the exposition team at KOAMI, said “For the export consultation, we have invited vendor registration PICs from 15 overseas leading EPC companies to hold 1:1 consultations with 60 domestic companies to strategically focus on the Middle East, India and Japan as there is great demand for plant equipment and materials. Even in the following years, we will make efforts to uncover new products and technologies from Korea as well as overseas for the expositions to bring in cutting edge automation technologies that lead the machine industry and to focus on capabilities to secure potential buyers”.

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South Korean companies delivered lower gross profits over the past five years despite a revenue increase mainly because operating costs outgrew sales, government data showed recently.

Annual sales totaled 5,311 trillion won ($466 billion) in 2015, up 979 trillion won or 22.6 percent from 2010, but operating profits fell by 11 trillion won to 349 trillion won. Specifically, operating costs jumped 24.9 percent to 496.2 trillion won, outpacing the 22.6 percent growth in sales during the five-year period, according to the data released by Statistics Korea.

The number of business entities across the country totaled 3,874,000 at the end of 2015, up 520,000 or 15.5 percent from 2010. The most common businesses were wholesale and retail business (1,015,000, 26.2 percent), followed by lodging and food services (711,000, 18.3 percent) and manufacturing (414,000, 10.7 percent).

The number of employees totaled 20,890,000 persons, up 3,240,000 or 18.4 percent from five years ago.

< Source: KITA>

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A group of South Korea’s public and private energy suppliers will chip in a total of 257 billion won ($227.4 million) to build Asia’s largest renewable energy multi-complex in Dangjin, South Chungcheong. The 1.12 million square meter complex is expected to consist of various renewable energy-related facilities including a solar energy complex with 80 megawatt (MW) capacity.

Four companies – SK Gas Co., SK D&D Co., Dangjin Eco Power Corp., and state-owned Korea East-West Power Co. recently signed a memorandum of understanding to invest a combined 257 billion won in creating a renewable energy multi-complex on a 1.12 million square meter site in Dangjin. The complex is expected to be Asia’s largest renewable-related facility.

According to the companies, the multi-complex will have an 80MW solar energy complex, a 160 megawatt-hour (MWh) energy storage system complex, and other fuel cell and wind power related facilities. There will also be facilities on a 70,000 square meter site like a theme park devoted to raise public awareness for renewable energy. Part of the investment will also include installing a solar power plant on water and wind power generator at a nearby island to create a self-relying energy space.

The multi-complex will be aimed at providing visitors the opportunity to experience various environmental-friendly energy facilities and eventually turning into a tourist attraction.

Currently, Korea East-West Power, a subsidiary of Korea Electric Power Corp., operates eight coal power plants with total 4,000 MW capacity in Dangjin. SK Gas is also in its final stage of receiving approval by the government to newly build two coal power plants with 1,160MW capacity in the area by 2022 through its subsidiary Dangjin Eco Power.

Korea East-West Power, which also operates eight thermal power plants, has plans to invest 2.5 trillion won in improving environmental facilities with an aim to reduce pollutants by 50 percent by 2020 and 74 percent by 2030. In particular, the power provider plans to invest 470 billion won to move two outdoor coal yards indoors by 2024 to completely get rid of scattering dust.

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South Korea continues to profit from its bilateral trade with the United States, but its trade surpluses largely come from outbound shipments of intermediate goods needed by U.S. manufacturers to produce their own finished goods, making their trade both complementary and mutually beneficial, a report said recently.

According to the report from the Korea International Trade Association (KITA), intermediate products accounted for 46.3 percent of overall South Korean exports to the U.S. in 2015, when such goods accounted for only about 37 percent of the United States’ total imports.

Such a high ratio of intermediate goods may indicate that South Korea was shipping items mostly needed by the U.S., it noted. The report comes amid a move by the new U.S. administration to consider imposing what it calls border adjustment tax, citing its country’s chronic trade deficits with key trading nations, including South Korea.

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South Korea’s full-service carrier Asiana Airlines Inc. will confidently confront the multiple challenges from domestic budget carriers and cheaper airlines from China and Middle East. This comes on top of higher oil prices and volatile foreign exchange rates, which has led to the enhancement of Asiana’s fleet with fuel-efficient aircraft and cost-saving efforts, according to its chief executive officer.

“This year will be a turning point for us to go offensive from defensive,” said Kim Soo-cheon during an interview with Maeil Business Newspaper recently.

The airliner is ready to adopt an aggressive posture and invest, having streamlined through restructuring over the past three years. Its first weaponry is the deployment of the A350-900, the latest product of French maker Airbus boasting lightness with its frame made 53% out of carbon composite material and in aerodynamic design to offer 20 percent to 25 percent better fuel efficiency than others in the same class. Industry experts estimate the average operating expense per seat could be reduced by 10 percent when fuel efficiency is improved by 20 percent.

The second largest air carrier in Korea would bring in the first four this year to run a fleet of 30 and deploy them on the longer-haul routes. At the same time the company would be refurbishing the business-class section of the flagship B777 aircraft tor differentiated look and service, according to the CEO.

Thanks to restructuring through sales of unprofitable assets and rationalization of routes, the company registered an operating profit of 257.0 billion won ($224.8 million) last year, the highest in five years on a consolidated basis. Net profit reached 54.3 billion won for for the whole of 2016. The company will focus on long-haul routes while short destinations are covered by its budget carriers Air Seoul and Air Busan, explained Kim. The company’s operating profit was boosted by 6.4 billion won by scrapping money-losing money-losing short-distance routes.

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Ssangyong Motor Co., South Korean unit of India’s Mahindra & Mahindra Ltd., is venturing into the Middle East by granting a local fi rm a license to assemble and ship its vehicles in Saudi Arabia from 2020.

Ssangyong Motor said recently that it signed a product licensing agreement with Saudi National Automobile Manufacturing Co. (SNAM) in February to allow the Saudi fi rm to manufacture its new premium pickup truck codenamed Q200 in the country starting 2020. SNAM plans to boost the annual capacity to 25,000 units later. Ssangyong Motor expects the latest deal would benefi t its Korean suppliers as the deal would involve an auto cluster for tier 1 auto part suppliers in Jubail, an industrial city in Saudi Arabia.

Ssangyong Motor previously posted record revenue of 3.63 trillion won ($3.2 billion) last year with a dramatic turnaround for the fi rst time in nine years, mainly driven by upbeat sales of its fl agship compact sport utility vehicle (SUV) Tivoli in Korea. The automaker, however, suff ers from a setback overseas due to a lack of demand in emerging markets such as Russia and tough competition from Chinese rivals.

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