412011 Korea Technology Awards Derectory book 2011-12-29
40The Pioneering fine industry technology raises national industrial competitiveness of the global com 2011-12-09
The Pioneering fine industry technology raises
national industrial competitiveness of the global competition.
Samsung Fine Chemistry has developed pioneering chemistry and electronic product materials. With its independent technology, SFC has developed the eco-friendly polyester chemical toner, which can print with a small amount of energy. The chemical toner is made from nano-sized material particles, which highly requires quality technique to deal with small sized and uniformed particles.
Nam Electronic Company has succeeded in domestically producing an electronic water meter, which Korea was fully depended on the imports to supply the national needs before. NEC secures the underlying technologies of the standard electric water meter for domestic water meter products. Most notably, in 1999, it developed a combined water meter which was separately used on days and nights.
The industrial competitiveness starts from securing differentiated technologies. It has become impossible to survive without independent technologies from the enlarging global competition. There are many domestic companies entering the global market by securing new technologies in the fine industries fields through its continuing research and development. These corporations have been enhancing national industrial competitiveness with the import substitutions and as well as the exporting their products.
The 41st Korean Fine Industries Technology Convention will be held on 23rd at 10:30 am at the KOEX Grand Conference Venue in Samsung dong, Seoul. The conference is held by Technical Standard Association, Co-hosted by Korea Testing Laboratory and Korea Association of standards & Testing Organizations, and sponsored by Korea Economic Daily. The Korean government awards the companies and individuals that have contributed to the advancement of the national fine technologies and measuring techniques.
39 companies and 40 men of merit will be awarded the prize this year, on their hard works for the development of the national fine technology.
Samsung Fine Chemistry (material, chemistry), JVM (electricity, electron), and Nam electronic company won the President's Awards, the most prestigious prize in the business section. The Prime minister awards go to 4 companies including Sun-hwan engineering (machine, element), Dae-han Tech (machine, element), the Korea water Resources Development Corporation (Precision measurement techniques) and Woo-jin electro-nite (precision measurement ability)
For personal prizes, the CEO of Jae-Il medical corporation, Jae-IL Park, receives the bronze tower industrial decoration. Sung-won Park, the vice president of Cass receives the industrial award. Sang-hee Lim, the CEO of Tae Ha Mecca-tronics, Yong-sung Park, the CEO of Sung Won Tech, Jin-wan Jung, the chief researcher of the Korean standard science research institute, Jin-hwan Park, the MD of Sam Ik THK, and Moon-hee Bae, the CEO of Vega tech receive the president awards.
The selection was made from the companies and the men of merit have sent the application for the event last April. Group of technical specialists had estimated the participator’s contribution to the national fine industry.
The selecting standard of the business prize winners was based on the product development difficulty, uniqueness, profitability and the percentage of domestic parts contained in the product.
For personal prizes, career history, performance record, and social responsibility, etc. were considered for the selection.
■ Written by Journalist Gae-Joo Lee | 2011/11/22
[Copyrights Hankyung.com All rights reserved.]
39[Korea Precision Industry Technology Competition] The President Award Winner : JVM 2011-12-08
Global No.1 Automatic Distributing and Packaging System
JVM (JVM CEO Yong-Hee Lee, Picture) had started to develop a manual medicine packing machine in 1987, continued its effort towards the automatic distributing and packaging system for hospitals and drug stores for past 33 years. JVM is presently holding the No.1 position on the global ATDPS occupancy. 74% of North American, 78% of European, and 90% of domestic hospitals and drug stores are using JVM’s automation system.
ATDPS enables pharmacists to check doctors’ prescriptions online and send the prescription data to the automatic distribution, classification, and prescription system. The data is stored in the database to allow convenient managements including tracking prescription histories. JVM has 270 patent applications and 177 patents worldwide.
With the global recognition of the differentiated technology, JVM have rewarded and selected 2010 Hidden Champion by Korean Import and Export Bank, KOTRA Guarantee Brand Company, 2011 KB Hidden Star, etc. JVM predicts this year’s sales as 70 million USD which is increased to 40% of last year’s sales, 50 million USD.
■ Written by Journalist Hyun-Woo Kang| 2011/11/22
[Copyrights Hankyung.com All rights reserved]
3823% of the best national promising companies, with potential of the overseas expansion; have been se 2011-10-28
23% of the best national promising companies, with potential of the overseas expansion;
have been selected in the region of Daegu and Kyoungbuk.
‘Which companies will be representing Daegu and Kyoungbuk across the seas?’
On 24th, Korea Export Import Bank announced and selected the best national promising companies. The bank named them as ‘Hidden champion company’.
Nationally, total of 35 companies were selected. 8 of them are in the region of Deagu and Kyoungbuk, including KeumYong Machinery, DaeDong Industrial Company, DaeJoo Machinery, Asia Tech, PyeongHwa Automotive, OSG Korea, DSC, Raygen etc.
The purpose of selecting ‘Hidden champion company’ is to help the national companies with high potential and technology. This selection is to stimulate to take off the export rate of South Korea.
Korea Export Import Bank has selected 186 national companies as ‘Hidden champion company’ since 2009, and 22 of them are in the region of Deagu and Kyoungbuk. This year, 57 of the selected companies are holding average of 21 patents. The average amount of export for the companies reaches to 100 million dollars (USD). 20 of the companies are highly regarded in their potential.
The regional selected companies, KeumYong Machinery(CEO Moo-Chul Lee) has become the No.1 ranking manufacture of exhaust valves for ship engines; and DaeJoo Machinery are known for the best technology of manufacturing air compressors nationally.
Additionally, a farm machinery, Daedong Industrial Company and Asia Tech Co. hold 41 patents and 33 patents each. PyeongHwa Automotive Company holds 77 patents and OSG Korea nails it with the unique technology on machining tools.
‘Hidden champion company’ gets the foremost financial service supports such as receiving preferential rates of interest, technology development funds, and export subsidies. Also, non-financial services including the currency consult, export advice, and legal global contract consult are provided for the next 5 years to help the companies’ global success.
In the region of Daegu and Kyoungbuk, in 2009, an automotive parts manufacture, Shin-Young and an electronic parts 쭯 components maker, LNF had been selected. Last year, Sang-Shin Brake(Car brake), JVM(Pharmacy preparation automation), KH Ba-tech(Cellular phone parts), Dong-Bang Plan Tech(Iron equipment), Costeel(Steel), Il-Jin Bearing(Bearing), SL(Car lamp), DAS(Car seat),and Korea Power Train(Car transmission parts) had been selected. This year, 10 companies are regarded in their potential such as Se-Won Jung Gong(Car parts), Won-Ik Qauts(Semiconductor), and Hwa-Shin(Car parts) etc.
Yong-Hwan Kim, head of Korea Export Import Bank, said “Sooner or later, ‘Hidden champion company’ will represent the future national global company incitement system.” And “We will continue to seek out the companies with strong technology and growth potential in the next year.”
■ Journalist Tae-Jin Kim
Oct.25th , 2011
37The strong small companies overcame from ‘KIKO Crisis’. 2011-10-13
The strong small companies overcame from ‘KIKO Crisis’.
A few small sized companies toiled along with JVM, survived from ‘KIKO Crisis’.
The manufacturer of Back Light Unit for display, Tae-San LTD (CEO Tae-Hyun Choi, Tae-Youn Choi) is the representative case of the survivors. An aftereffect of the global financial crisis, the won sharply dropped in 2008. Tae-San LTD’s net loss reached 75 million dollars (USD) which equivalent to its usual annual sales.
The encroachment of capital precipitated Tae-San LTD into the crucial moment, even its share presence in the market had been jeopardized. Tae-San LTD took expeditious self-relief steps, also demanded a workout to creditor banks. Rebalancing of the company structures and an addition of a debt-for-equity swapping led to achieve net profit of 37 million dollars (USD) in 2009, and 9 million dollars (USD) last year. On May, 2010, six creditor banks approved a debt-for-equity swap demand from the company.
A staff member of Tae-San LTD said, “It was helpful that Samsung Electronics Co. secured the pre-existing volume of business with us to keep on selling."
The IT parts distribution company, SAMT (CEO. Jae-Sang Sung) is a similar case. SAMT buys semiconductors and parts from Samsung Electronics and Samsung Group, and distributes the parts to many small size companies. SAMT suffered heavy loss after signing KIKO contract.
KIKO related loss summed up 17 million dollars (USD) in 2008. SAMT was driven into a difficult situation.
SAMT spend company’s fund to cover the loss and eked out the company on the bank loans. On September, 2010, SAMT requested a debt-for-equity swap to creditor banks. A staff of the company said, “We tried to avoid a workout, but the bank loan accumulated too much.” And “Even though the company became a workout, its finance improved very much."
SAMT’s last year’s sales reached 75 million dollars (USD) and sales profit summed up to 1.7 million dollars (USD). The creditors approved for a debt-for-equity swap amounting to 20 million dollars (USD), and net profit rose to 5.8 million dollars (USD). The sales profit reached 1.1 million (USD) on the first half of this year. KIKO contract expired last year.
The optical film manufacturing enterprise, Sang-Bo(CEO Sang-Gun Kim) have overcame from ‘KIKO Crisis’ too. The company was known best for its optical technology with 35 years of history. Sang-Bo enterprise operated in an excellent condition until 2007.
In 2008, Sang-Bo was fallen into its tragedy position after ‘KIKO Crisis’. Its net loss reached 4.2 million dollars (USD). Sang-Gun Kim, CEO of the company, recruited his son, Hyun-Chul Kim as the leader of the manufacture innovation center. The center leader, Kim established the innovative academy, and reduced the prime costs. The staffs have cut their salaries by one-third. Sang-Bo operated in black next year.
On April,2011, Sang-Bo arranged financing of 17 million dollars(USD) from Industry Bank and etc.
The companies take as ‘KIKO Crisis’ as an opportunity to consummate a currency hedge. Jun-Ho Kim, vise-president of JVM said, “We have revealed our ignorance in a currency hedge, and have had a self-examination that we have depended on the banks only. We have took this chance to strengthen our currency manage system.”, and he added, “Specialty consultants are in service to help our currency related duties."
As of March, this year, KIKO contract have expired, but the after-effects have still remained.
Many companies have fallen to bankruptcy from ‘KIKO Crisis’, even the survivors have suffered from the load of loans. The companies are initiating legal proceedings against KIKO related banks still.
■ Written by journalist Hyun Noh, journalist Sun-Woo Jung l 2011/10/04 10:31
36Survivors from KIKO, the strong small sized companies, JVM, Sang-Bo… turns the drain into the good. 2011-10-07
Survivors from KIKO, the strong small sized companies,
JVM, Sang-Bo… turns the drain into the good.
"The net loss reached 78.8 billion won (7.5 million USD) and the debts ratio surged 5765%.
I went black as pitch.”
In 2008, JVM founder vise-president, Jun-ho Kim, was devastated by the currency option plan; KIKO. The specialty enterprise, JVM was known for its Automatic Tablet Dispensing & Packaging System. In 2007, JVM operated in an excellent condition. Its, Sales net profit and reached 46.1 billion won (4 million USD) and 14.4 billion won (1.2 million USD). The debts ratio surged only 27.5%, but after signing KIKO contract, the company was fallen into its tragedy position. Even the early investors of JVM raced to sell their shares. The vice-president, Kim came as a shock and fell down twice.
But a miracle happened. JVM made profits right next year, operated in black for 3 years in a row.
The debts ratio decreased to 183% on the end of June, 2011. Past 3 years, JVM paid off over 100 billion won (9.4 million USD) to the bank held KIKO contract, to manage the outcome. JVM staff members had put enormous endeavor to turn over to this dramatic recovery. Additionally, financial supports were made to help JVM. The Import and Export Bank put out over several billion won to JVM at a low rate of interest, while the company initiated legal proceedings against KIKO related banks, such as Korea Exchange Bank, etc.
JVM made profit of 9.8 billion won during the first half, 2011. Sales increased over 40% from the last year (56.5 billion won). Sales predicted to reach 80 billion won (7.5 million USD) easily. Survivors from KIKO, the strong small sized companies, such as Tae-San LCD, SSMT, and Sang-Bo are making a miracle story.
※ KIKO : This product is an exchange option when exchange rate is fluctuated within certain range, then company sells foreign currency with contract rate, and if the rate is not in the range, contract will be avoided or company has to pay collocation fee.
■ Written by journalist Hyun Noh, journalist Sun-Woo Jung l 2011/10/04 10:28
35The President Lee visits JVM. 2011-08-29
The President Lee visits JVM.
The President visited JVM on August 11, 2011.
Lee was interested in the continued growth of the healthcare industry, the perceptible
global accomplishment of JVM, and its new technology. In addition, He patted on the
laboring fulltime handicapped employees on the back with a warm conversation. JVM
staff members have highly appreciated the urging visit of the President Lee Myung-Bak,
Minister of Knowledge and Economy, Choi Jung-Gyeong, Secretary of Health and Human
Service, Jin Su-Hee, Small Business Administrator, Kim Dong-sun, Mayor of Daegu, Kim
Bum-Il, Legislator, Ju Ho-Young, Legislator, Ju Seong-Young, Legislator, Jo Won-Jin,
Chief national Policy Secretary(cheongwadae), Baek Yong-Ho, Presidential Secretary for
Economy(cheongwadae), Kim Dae-Gi, Presidential Public Relations Chief(cheongwadae),
Kim Doo-Woo, Small Business Secretary(cheongwadae), Han Mi-Suck and 3 accom-
panying persons, and other VIPs.
34JVM "Rapidly aging population pulls JVM's financial growth rate.. The President visits JVM" 2011-08-22
JVM "Rapidly aging population pulls JVM's financial growth rate..
The President visits JVM"
The pharmaceutical appliance company, JVM has announced on August 17th, the company’s financial growth rate have increased to the record run, with a salutary effect of rapidly aging population and the company’s service system improvement. The outlook for its growth momentum has continued this year.
The president Lee Myung-bak congratulated on JVM’s the worldwide sales performance while the business conference held at JVM. Lee also looked forward to JVM raising the rational hopes for winning global events that have national significance.
JVM’s official notice on August 9th, said its second quarter earnings and sales surged 32.7 percent and 50.3 percent from one year ago in a regulatory filing. Net profit reached $18.7 million and sales rose $5.2 million.
The figure was predicted to continue to its momentum, with a salutary effect of the heat on new product sales, and the overseas expansion to nursing-home markets in China and North America. JVM’s financial recovery from KIKO has boosted the momentum.
■ Written by journalist Mun-Sun Go l 2011/08/17 14:34
33President Lee visits Daegu to encourage the Daegu World Championships 2011-08-22
President Lee visits Daegu to encourage
the Daegu World Championships
National economy recovery conference in Sung-shu economy zone.
■ written by journalist Sang-jun Lee l 2011/08/11
On Aug. 11th, morning, President Lee Myung-bak is attending the rational economy conference for small and medium-sized manufacturers at JVM in Daegu Sung-shu economic zone; with a laughter, prior to his visit to Daegu Stadium.
President Lee Myung-bak visited Daegu on Aug. 11th, to support the World championship held in Daegu on Sept.27th, 2010. Lee visited the Daegu stadium to review preparation of the Championship. It was a visit after 11 months. In the afternoon, he headed to Gumi
Lee arrived in Daegu by KTX, around 9am, sat in the 96th national economy recovery conference and ‘Rational economy conference for small and medium-sized manufacturers’ which was held at ‘JVM’ in Sung-shu economy zone. Lee affirmed that he was willing to look out suffering citizen from the rise in prices, such as gas, pork, agricultural products price and service charges.
Then, Lee visited the Daegu stadium, received reports for the Championship preparation from co-chairs of the Championship organizing committee, Mayor of Daegu, Kim Bum-Il, former Mayor, Cho Hae-Yeong and others. Furthermore, he encouraged local future athletics and carefully checked into preparation of the Championship. While a luncheon with the tournament officials, the President asked, “With the whole nation, make the World Championship to success, so that we could increase the national reputation, and create this event as the world festival.”
Additionally, President Lee Visited the foreign invested company, ‘Toray Advance Materials’ in Gumi. On this visit, Mayor of Daegu, Kim Bum-Il and Province Governor of Gyongsang-buk-do, Kim Gwang-young, Supreme Council of GNP, Yu Seung-Min, Senators, Choi Cyeong-hwan, and Ju Seong-Young attended with the President. Minister of Public Administration and Security, Maeng-Hyong-gyu, Minister of Knowledge and Economy, Choi Jung-Gyeong, Secretary of Health and Human Service, Jin Su-Hee, and Director Kim Dong-Seon accompanied with the President.
A Branch Officer, Kim Gwan-Young requested for solicitude while he suggested pending issues of Nakdong River tributary restoration project, early composition of Gumi High-tech Valley, and Foreign Investment Zone.
32JVM changes to co-CEO leadership structure 2011-08-16
JVM changes to co-CEO leadership structure
■ Reported by Seonmi Jeong | 15:14 Aug 09.2011
Today, August 9th, JVM publicly announced its management restructuring from the sole CEO leadership led by Junho Kim to a new co-CEO leadership structure led by Junho Kim and Yonghee Lee.