Industry leading machine tool company… Recognized for contribution to root industry development Hwacheon Machine Tool Co., Ltd. (CEO: Kwon Young dooㆍKwon Young ryual), one of the resident companies in Hanam Industrial Complex in the city of Gwangju in Korea, has been recognized for its contribution to the development of root industries and honored as a ‘Root Enterprise Extraordinaire’. The root industries are industries regarded as the foundation of Korea’s core industries.
Hwacheon Machine Tool has revealed on Sep. 1 that the company, with its origin as a family business, was selected as a ‘Root Enterprise Extraordinaire’ during the ‘2014 Root Industry Week’ event held in Ilsan KINTEX in Gyeonggi-do for its contribution to the development of root industries.
Founded in 1952, Hwacheon Machine Tool is focused on manufacturing of machine tools, such as CNC (Computer Numerical Control) lathes, machining centers and automated machines, and castings for material industry.
Machine tools are known as ‘machine-making machines’, and Hwacheon Machine Tool is a prestigious global name in the field that has led Korea’s machine industry from the front, backed by the experience and expertise that the company has accumulated for over half a century. In particular, Hwacheon Machine Tool is the only company in Korea with a batch process system that manufactures from materials (castings) to final products (robots, automation systems) simultaneously, setting the standard in Korea’s machine industry.
Also honored as ‘Root Business Extraordinaire’ are Samjin LND, Ilji Tech, and Saehan Vacuum Heat Treating.
The Root Technology Contest awarded 47 companies and 150 individuals. Youngpoong Heat Treatment was awarded the President’s Prize in the Business category, while Ms. Ryu Na yeon received the MOTIE Ministerial Award on the Individual category. Professor Yoo In seon of Korea Polytechnic II University and seven others were honored with the lifetime achievement award.
The root industries refer to primary processing industries involved in producing parts from materials and manufacturing complete products from such parts using six technical fields, which are die casting, metal molding, plastic molding, welding, surface treatment, and heat treatment. Like the roots of a tree, these fundamental industries are not visible on the surface but their products are included in the final products and form the basis of the competitiveness of Korea’s manufacturing industries. Their ‘process technology’ is widely regarded as an essential factor in improving the quality competitiveness of the final products manufactured by the automotive, shipbuilding, and IT industries.
To address the imbalance of information on the technology of root companies and the technology in demand by consuming companies and encourage mutual cooperation, the Ministry of Trade, Industry & Energy plans to systematize the ‘Technological Collaboration Between Root Industries and Consuming Companies’ and help applicable consuming companies extend their reach to overseas markets by turning it into a new government-funded program from next year.
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