Fifty-nine Japanese companies, twice as many as expected, have attended the International Materials and Components Industry Show 2009 (IMAC 09). Korean companies, including Sungbo P&T and Partron, have made US$280 million in export contracts.

Many Japanese companies have attended the show to purchase Korean materials and components. Since last year the Japanese currency exchange rate has been high, and the price for materials and components is very attractive to prospective Japanese buyers.

The Ministry of Knowledge Economy held IMAC 09 in collaboration with KOTRA and JETRO. For this 2-day show, 59 Japanese companies have attended the show. About 30 Japanese companies were expected to attend the show, but almost twice as many companies have attended.

Among those companies, 36 Japanese companies consulted with 270 Korean companies and made 600 inquiries for materials purchase.

All 7 material purchase managers from Mitsubushi Electric Co. have attended the show, and they will purchase over 120 components and parts for air conditioning systems, railroads, elevators, and electrical systems.

Also, both Toyo Engineering and Petroleum Chemical and Environmental Plant Company are looking for a Korean company for material supply in order to expand their business to third world countries.

It is expected that more than 600 export consulting sessions will occur at the show with more than US$400 million worth of business. In total, US$286 million worth of export contracts are expected to be made at the show.

Sungbo P&T has made US$100 million worth of export contracts with Japanese companies, as well as Sewon Teletech, Partron, Daeryuk and more. Humax and a few other Korean companies also have signed an MOU with Japanese companies.

According to a representative from the Ministry of Knowledge Economy, more Japanese companies are interested in Korean materials and components due to the high exchange rate. This will help to improve the trading deficit with Japan.

Component Export Contracts

MOUs

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