According to a recent announcement by the Korea Machinery Industry Promotion Association, the import value of Korean imports of machinery products from China in 2000 was 1.6 billion yuan, and in 2009 it was up to 8 billion yuan. The reason is mainly due to the price advantage of Chinese products and its increasing technical content and quality standards.
Mr. Park Sun-su, Managing Director of the Korea Machinery Industry Promotion Association, sent an invitation to Chinese companies. He said: Pneumatic Control Valves "With the Chinese government encouraging enterprises to improve the technical competitiveness of their products through technological innovation, it is expected that Korea will produce various Chinese-made machinery in the future. The import of products will continue to expand." He also said: "In 2010, the production of Korean machinery products increased by 22% compared with last year, reaching 293.3 billion US dollars, and the export volume increased by 33.6%, reaching 137.5 billion US dollars, and the import value increased by 30.1. %, up to 85 billion US dollars. This indicates that the industry is getting rid of the shadow of the financial crisis that broke out in 2008, equipment investment has maintained a good momentum, various economic indicators have improved, and both imports and exports have shown a good recovery trend. Shanghai regulating valve This economic situation provides a good economic environment for Chinese machinery products to enter Korea. It is particularly important to establish brand awareness through KOMAF exhibition, which is especially important for the hope to lead the Korean market."
On October 26th, the Korea Machinery Industry Promotion Association will hold a Korea Machinery Industry Market Reporting Conference in Shanghai together with its Chinese distributor, West Mac International Exhibition Co., Ltd., which provides further information for Chinese companies interested in learning more about the Korean market. Opportunity.
In 2009, South Korea imported a total of 3.3 billion US dollars of machinery imports from China, including special industrial machinery, regulating valves, pumps and compressors, processing machines, bearings and other five types of imports accounted for general machinery to China. 49.2% of imports dominate the import of machinery to China. The scale of imports from China, such as valves and bearings, has been expanding from China.
South Korea itself is a strong exporter of machinery products. The self-regulating valve has plunged the world's economic recession, and the Korean machinery industry has consolidated its growth trend by expanding exports and invigorating the domestic demand market. According to the statistics of the United Nations, the total trade volume of machinery industry in South Korea reached US$235.2 billion in 2007, accounting for 2.9% of the world total. In Asia, it is the third largest trading country in the machinery industry after China and Japan, especially in 2009. The import volume reached 28.7 billion US dollars, ranking the eighth largest exporter of machinery industry in the world.
The Korean government attaches great importance to this basic industry that provides production equipment. One of the measures is to establish KOMAF-Korea Machinery Exhibition as an important part of the Korean government's “Promoting the Development of Capital Goods Industryâ€. Since 1977, it has been displayed and promoted with core. Competitive domestic and international technology and excellent machinery contribute to the improvement of quality and competitiveness of mechanical products in the international arena. As the largest machinery exhibition in Northeast Asia, KOMAF will usher in the 18th exhibition in 2011, becoming the largest business platform in Northeast Asia for mechanical products brought together by core customers at home and abroad.
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