South Korea has a wide variety of industries, among that tool grinding, automotive, gear, aerospace and bearing industry. 9 companies were visited with Innogrind partner Stomax Global in week 11, http://www.stomaxglobal.com
Our partner Stomax has a lot of knowledge as it comes to grinding. The well trained sales staff has its offices in the areas of Incheon (in the North), Changwon and Daegu (in the South).
The economy of South Korea is the 4th largest in Asia and the 11th largest in the world. It is a mixed economy dominated by family-owned conglomerates called chaebols; however, the dominance of the chaebol is unlikely to last and engenders risk of slowing down the transformation of Korean economy for the benefit of future generations. South Korea is known for its spectacular rise from one of the poorest countries in the world to a developed, high-income country in just a few generations. This economic growth is called by some a miracle, and described as the Miracle on the Han River, which has brought South Korea to the ranks of elite countries in the OECD and the G-20. South Korea still remains one of the fastest growing developed countries in the world following the Great Recession. It is included in the group of Next Eleven countries that will dominate the global economy in the middle of the 21st century.
The grinding industry in Korea stands at a very high level. Production level has a very high standard as it comes to productivity and quality issues. People are extremely motivated and inventive to get the max out of its production.
Among this all the Korean cuisine is one of the best in Asia.
The photo shows clockwise Mr K.H. Kang (CEO) – Mrs Go, JinYi – Mr. Lee, Hyun Shik and Mr. Choi, Jin Young. Mr Yun, Hyo Sik and Mr. Seo, Kun Woong are missing on the photo.