Many Japanese companies attended the IMAC 2009 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. As a result, 59 Japanese companies, twice as many as expected, have attended the show, and 36 of them consulted with 270 Korean companies and made 600 inquiries for materials purchases. The expected sum of export contracts was 286 million dollars.

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

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.

Japan Ion Co. (www.japan-ion.com) made a technology collaboration agreement with a Korean company as well. President Nakajima Yuji from Japan Ion Co. said: “We are here to learn about Korean products and technologies. Today, I saw this iron that was a circular shape. I hadn't seen anything like this in Japan, so it caught my attention. I hope to meet many good suppliers to work together in the future.” Japan Ion has expertise in nano silver and nanotechnology. Since Korea is highly competitive in nano technology as well, President Yuji has an optimistic view on future technological collaboration. “This is a vase that is sealed with silver. Many Korean companies have shown high interest in our technology.”

A leading air tools manufacturer, Yutani Corporation (www.yutani.co.jp), was also impressed with the quality of Korean components and sought to work closely with Korean suppliers. President Toshimi Yutani added: “I was quite impressed to meet many Korean products that satisfied me in terms of both quality and products.” The procurement areas for Yutani Corporation included reverse valves, throttle caps, air pipes, flange bolts, and exhaust covers; while the supply areas covered impact wrenches, impact drivers, pulse wrenches, air grinders, air motors, and ETC wrenches. “We became interested in Korean materials and components this year due to the high exchange rate. Using Korean components we can still manufacture our products at a high quality and make it cost effective as well.”

Ishizeki Precision Co. Ltd. (www.iprecision. co.jp) agreed with President Yutani. Ishizeki Precision is a company that is specialized in a total production system, a system that provides everything from die design, die manufacturing, and press processing to cleaning, plating and resins. “We are looking forward to collaborate with Korean companies in the areas of die sets and press processing. Not only are we looking for little components that are used in our total production system, but we are also seeking to meet Korean companies who need our technology and consultancy.”