Industrial Bearings

Korean machinery part makers to seek more aggressive advance into China market

A positive expectation is forming among Korean machinery circles that the recently concluded Korea-China FTA would be a factor generating benefit for them. According to the Korea Association of Machinery Industry (KOAMI), Korean companies will be likely to benefit from the FTA in terms of tariff rate – due to China’s average tariff rate (8.1%) is higher than that of Korea (6.6%).

As Korean-made machinery products have comparative advantages over those from China in terms of quality, the rate of Korean companies’ advance into Chinese market is expected to increase significantly in the medium-and longterm.

A spokesperson of the agency said “For most machinery products, China’s tariff rate is higher than that of Korea, so, if tariffs at the two sides are abolished at the same time, Korea will likely take advantage from it, but only export of lowpriced tools, parts and components is expected to gradually be increased because of China’s price competiveness.

So, the need for expanding the technology gap with Chinese competitors is strongly emerging as an important issue Korean companies manufacturing low-priced machinery tools, parts and components to solve.

As of last year, China emerged as the world’s largest importer of Korean-made general machinery comprising 24.2% of Korea’s total machinery exports, but recently the balance of payments remains to be seen gradually decreased.

The following selected companies are some of Korea’s representative machinery part makers taking considerable dominance in the global market in their specific areas.

With keen interest from the Korean government and a governmental agency, they plan to elevate their more aggressive advance into the China market with an aim to increase the ratio of their market dominance than competitors worldwide, on the occasion of the recently concluded Korea-China FTA.

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

Industrial Bearings

[INQ. NO. 1412M02] DYM is currently engaged in producing and delivering a widerange of highest-quality industrial bearings including bearings for marine engine applications.

Maintaining its market dominance in the nation, the company is gradually raising its global market share.

DYM’s white metal bearings and plain bearings, made technically from carbon steel, cast steel and cast iron lined with white metal, are widely used to power plants, marine engines, etc. earning high-marks among industrial operators both at home and in foreign markets.

The plain bearing is designed as the simplest type, so it permits uncomplicated motion when in operation. The design of a plain bearing depends on the type of motion the bearing must provide.

DYM’s white metal also called “Babbitt metal” is designed to provide the surface in a plain bearing. Major overseas markets include the USA, Germany, the UK, Denmark, Switzerland, France, Russia, Italy, Taiwan, China, Japan, and India. Utilizing the strong industrial background in Busan, DYM further seeks ways to intensify its market competitiveness through strengthened efforts for R&D and related services.

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

Korean machinery part

Subscribe to Blog via Email

Tags

Recent Posts