President Moon paid a visit to SBB on 7th August. SBB started to make ball pen bearings in 1993 and has expanded its scope to robotic speed reducers that are needed for robot joints. The company developed robotic harmonic reducer for the first time in South Korea which then was mostly imported from Japan. As a result, the company received an industrial prize in 2017. However, the product has not yet passed the proof test.
CEO Jaewan Ryu briefed Moon “One of the three core parts that were being imported from Japan was ball bearings or special bearings. So we will keep focusing on advancing the related technologies.”
Moon encouraged Ryu and the staff “It is a good idea to take the Japan’s recent economic retaliation as an opportunity for you to strengthen your presence in the field.”
Ryu said “So far, we’ve been busy catching up Japan’s tech but we’re sure to surpass in near future.”
Moon said back “Thanks to the Japan’s action, our companies are turning their eyes to Korean parts companies which are very promising.”
Ryu asked government support for small and medium enterprises and Moon answered that the government would bring appropriate systems and facilities.
Moon visits Harim
President Moon paid a visit to Harim factories in Iksan City on 20th August and was briefed on the company’s investment plan in North Jeolla Province. Hongkook Kim, CEO of Harim, said that Harim would invest 880 billion won (658 million dollars) in the region until 2024 and create 2,000 new jobs.
Moon said “North Jeolla Province experienced closure of Hyundai Heavy Industry shipyard in Gunsan City 2 years ago followed by another closure of GM Korea in the same city. So it is very encouraging that Harim took initiative to make huge investment in the region.”
Moon added “Food industry is turning into value added industry with cutting edge technologies and facilities built on IT and smart tech. North Jeolla Province has traditionally been strong for food industry and the government is growing the Korea National Food Cluster in Iksan City as the mecca of innovative growth.”
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