Mokpo CCI

Mokpo-based marine equipment enterprises to boost their market-competitiveness, invigorating the regional economy

As of 2009, the global marine equipment market was dominated by three key countries of South Korea, China, and Japan, recording around $83.4 billion in sales. The demand of the global marine equipment, in 2010, was largely created by a few leading nations – South Korea (37, 2%), China (37, 2%), Japan (18, 3%), and others (7.3%).

As the global marine base is increasingly shifting to the Asian region, the production capacity ratio of the marine equipment in the global market is also being moved to Asia, with Europe’s still comparative higher ratio than other global regions. As of 2010, the global marine equipment production was mainly made by Europe (48%), South Korea (22%), Japan (14%), China (11%), and others (5%), meaning that East Asia’s three major marine nations are continuously pursuing their stops as big hands in the global marine equipment production market.

The demand for developing newer technology in the global marine equipment industry is increasing with the rising demand for high-value vessels, coupled with the growing need for offshore drill ships and related facilities development.

In response to the changing global marine market, most of S. Korea’s small-and medium-sized marine equipment manufacturers are seeking ways to develop stronger capability to develop advanced technology, escaping from their positions as manufacturers of simply producing marine equipment.

Korea’s marine equipment manufacturers were being significantly affected by the nation’s shipbuilders’ order performances from overseas markets Korean shipbuilders recent recorded their increased growth in order quantities for this year, making the nation the global NO.1 country.

When looking into Mokpo’s hinterland region of Jeollanam-do province, now a total of 197 companies including enterprises of vessel blocks operate, having a big effect on the regional economy. Regional companies with technology competitiveness exert their leadership in the global market, given the overall difficulties caused by the recent Europe-originated financial crisis. Meanwhile, an increasing number of companies are equipping themselves with their own technologies, so, if the marine economy is, in the near future, invigorated, such kinds of companies’ performances are expected to be conspicuous.

Korea Buyers Guide covers four major companies recommended by Mokpo CCI in order for us to fully introduce these companies to overseas markets, and thus to increase the awareness of these enterprises in the global market.

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

A key economic organization to regional economy of Mokpo

Established in 1916, Mokpo CCI is a private economic organization founded in accordance with the Chamber of Commerce Law. Mokpo CCI is a comprehensive economic organization comprising of entire business except primary industries such as agriculture and fishery. The membership of CCI covers businesses of any size and represents the whole economic community.

The purpose of Mokpo CCI is to provide diverse and wide range of services as a representative organization to advocate the interests of businesses. The CCI also seeks the comprehensive development of commerce and industry as well as the balanced growth of the national and local economy.

Mokpo CCI is an organization founded voluntarily by the local entrepreneurs for the purpose of improving and developing their local commerce, industry and community.

With its close cooperation network with the counterpart chambers of 150 countries, the CCI is a worldwide economic organization. The CCI carries out universal trade activities such as certification of international document, operation of bilateral economic cooperation committees and reception of trade missions.

Any company which runs business more than a certain scale within the jurisdiction would be automatically qualified for the membership. The major decision of the CCI is made at the General Council who are elected by the members. The Standing councils, also elected by the members, are responsible for the implementation of project plan and budget plan. The necessary operating expenses are funded by the membership dues.

“To adapt to the rapidly changing economic environment in this age of information, Mokpo CCI is making its best efforts to protect the rights and interests of member firms and to ensure the development of local business and community. Mokpo CCI will steadily carry out its role as a local economic organization that can meet the demand of local business community, through the diversification and enhancement of its activities. We will continue to update and complement the information, and in this regard, your unwavering support and concern would be highly appreciated,” said Kim Honam, Chairman of the CCI.

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

A key economic organization to regional economy of Mokpo

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