DOCSLIB.ORG

PANGYO OFFICE MARKET AFTER COVID-19 Korea's Silicon Valley Pangyo Office Market Expands Despite Covid-19 COLLIERS RADAR OFFICE | RESEARCH | SEOUL | 13 AUGUST 2020

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
PANGYO OFFICE MARKET AFTER COVID-19 Korea's Silicon Valley Pangyo Office Market Expands Despite Covid-19 COLLIERS RADAR OFFICE | RESEARCH | SEOUL | 13 AUGUST 2020 COLLIERS RADAR OFFICE | RESEARCH | SEOUL | 13 AUGUST 2020 Judy Jang Associate Director | Research | Korea +822 6325 1918 [email protected] Robert Wilkinson Managing Director | Korea +82 2 6325 1901 [email protected] PANGYO OFFICE MARKET AFTER COVID-19 Korea's Silicon Valley Pangyo Office Market expands despite Covid-19 COLLIERS RADAR OFFICE | RESEARCH | SEOUL | 13 AUGUST 2020 Summary & Recommendations Pangyo, located 10km South east from Gangnam area in Seoul, is one of the new cities developed by the Korean government. It is known as a convenient location as it is at the crossing of the Gyeongbu The Pangyo market has gained attention Expressway and Seoul Ring Expressway. The government developed the area to foster advanced from building owners, investors, and industries. Pangyo 1st Techno Valley is a 66-hectare development at Bundang-gu in Seongnam-si, and tenants as Pangyo 1st Techno Valley and Pangyo 2nd and 3rd Techno Valleys are under construction following the success of Pangyo 1st Techno Pangyo Alpha Dome City have seen their Valley. The market in the Pangyo area is scheduled to expand as Pangyo 2nd and 3rd Techno Valleys occupancy stabilize and the resale market are under development. has been deregulated in 2020. When Unlike Seoul’s three existing major office submarkets, where leasing activities have slowed down due Pangyo 2nd is completed in 2022 and 3rd to the Covid-19, the Pangyo Office market saw the lease Covid-19 impact as IT tenants continued Techno Valley is established in 2025, we active leasing. expect Pangyo will emerge as a major When Pangyo1st Techno Valley was under construction, many companies moved from the Gangnam office submarket to rival Seoul’s existing area to Pangyo due to tax benefits and financial support. However, these trends changed as tenants three major office submarkets. who failed to expand their offices > We recommend investors monitor the in Pangyoare now relocating back Pangyo’s growing Techno Valley market for investment opportunities in to offices in Gangnam and Bundang. Pangyo as the restrictions on resale in When Pangyo 2nd and 3rd Techno Godeung JC Pangyo 1st Techno Valley will be lifted Valleys are completed and major sequentially starting in 2020. high-tech companies move in, we Pangyo 3rd Pangyo 2nd expect Pangyo will earn the title of Techno Valley Techno Valley > As the restrictions on resale are lifted, Korea’s Silicon Valley. we recommend owners looking to increase their liquidity can sell their office assets in Pangyo Techno Valley. > The opening of Pangyo 2nd Techno Pangyo JC Valley brings lettable floorspace in Mogok st DMC Pangyo 1 excess of Seoul’s traditional three CBDs. CBD Techno Valley We recommend occupiers, especially YBD Pangyo New Town tech occupiers with an existing GBD GBD presence look to Pangyo for expansion. Pangyo Station West Pangyo IC Alpha > We recommend enterprises planning Dome City to move or develop their own buildings Bundang & Pangyo in Pangyo 3rd Techno Valley take Gyeongbu advantage of the relatively low Expressway development cost and tax benefits. Source: Colliers International. Note Seoul’s traditional three major office districts are the Central Business District (CBD), the Gangnam 2 Business District (GBD) and the Yeouido Business District (YBD). Note: USD1 = KRW1,183. COLLIERS RADAR OFFICE | RESEARCH | SEOUL | 13 AUGUST 2020 PANGYO OVERVIEW The Q2 2020 vacancy rate for offices in Pangyo was less than 1%, while Continuous expansion of Pangyo area as vacancy in Seoul was 7.9%. an IT center Covid-19 has slowed down traditional manufacturing companies’ expansion, After the success of Alpha Dome City and Pangyo 1st Techno Valley, we expect reducing demand in the CBD and YBD. However, IT companies are continuing that the Pangyo area market will expand with the development of 2nd and 3rd to expand, which is in part why leasing demand in the GBD has continued in Pangyo Techno Valleys. the midst of Covid-19. We expect this demand from IT companies to remain Major IT companies in Korea such as Naver, NCSOFT, and Kakao Group are solid for the foresseablefuture, supporting Pangyo’s growth. planning to expand their offices in Pangyo. Specifically, Naver and Kakao Group Transportation infrastructure improvement plan to expand their offices in Alpha Dome City. Meanwhile, NCSOFT plans to We view continuing improvements to transport in Pangyo 2nd Techno Valley purchase the building across Pangyo Alpha Dome City for about KRW1 trillion as an increasing number of blue-chip occupiers in this area will give impetus (USD833 million) and develop it as an integrated R&D center. We expect to the government to continue building out the bus, subway and GTX Pangyo Alpha Dome City to become a major IT center in the Pangyo area. network. Kakao announced plans to build the Kakao Town Smart City, which will develop not only Kakao’s headquarter’s office building in Pangyo, but also commercial Lower rent compared to 3 major areas in Seoul facilities. 10 blocks near Pangyo Station in Alpha Dome City are scheduled to be completed by 2022. Grade A average monthly rent in Gangnam-guis about KRW95,000 per pyeong (KRW28,000 per sq meter). Average rent in Pangyo Station near Alpha Dome City and Pangyo 1st, 2nd and 3rd Techno Valley Overview Alpha Dome City is about KRW70,000 per pyeong (KRW21,000 per sqmeter), and the average rent of Pangyo Techno Valley is about KRW45,000 per st nd rd Alpha Dome Pangyo 1 Pangyo 2 Pangyo 3 pyeong (KRW15,000 per sq meter), more than 25% cheaper than the City Techno Valley Techno Valley Techno Valley Gangnam area. Land area (sqm) 137,497 661,925 430,402 583,581 Year Built 2021 2009 2021 2024 Number of N/A 1,300 750 500 companies Gangnam Finance, AI, Fintech, Grade A Rent/pyeong IT, Bio 95,000 MICE, Big data, Blockchain, Major industry technology, Rent / sq m IT, Culture autonomous Residential 28,000 CT, NT Technology driving, IT facilities Naver, Kakao, NHN, Ahn Lab, KT, Mando, Cha Pangyo Techno Valley Major occupiers N/A Grade A Rent/pyeong Krafton NCSOFT Hospital Group 45,000 Source : Colliers International Rent /sq m 15,000 Pangyo Station Grade A Rent/pyeong Low vacancy rate due to stable IT demand 70,000 IT sector demand for office investment and leasing in Gangnam, which is Rent /sq m traditionally preferred by the IT industry among Seoul’s traditional three 21,000 business districts, is still continuing despite the Covid-19. Source : Google Map 3 COLLIERS RADAR OFFICE | RESEARCH | SEOUL | 13 AUGUST 2020 PANGYO 1ST TECHNO VALLEY st Sector Distribution ofPangyo 1 TechnoValley Tenants Growing into Korea's Silicon Valley According to 2019 Pangyo Techno Valley Report, there are about IT(Information Technology) 1,300 companies in Pangyo 1st Techno Valley, growing into 65.9% Korea’s Silicon Valley with 74,000 employees and total tenant sales of about KRW87 trillion (USD72 billion). Pangyo Techno Valley is restricted high-tech industry-related tenants divided into various segments: > Information Technology (IT) > Bio-Technology(BT), CT (Culture Technology) > Culture Technology (CT) 13.4% > Nano Technology (NT) Other 7.0% > Advanced convergence technology research facilities BT (Bio Technology) > Advanced infrastructure facilities and research support 12.6% facilities According to the Gyeonggi Provincial Economic Science and Promotion Agency, IT industry tenants account for 68% of occupiers, and 186 member companies already signed land NT (Nano Technology) Purchase and Sale agreements. 1.1% Source: Gyeonggi Provincial Economic Science Promotion Agency Lease and resale restrictions relaxed from 2020 As a condition for receiving tax benefits and discounts to support occupancy when 1 st Pangyo Techno Valley opened, the government limited ownership to pre- sale contractors for 10 years from the date of registration, with a limited use restriction for 20 years from the date of completion. These restrictions on current owner Pangyo Techno Valley's begin expiring in 2020. We expect this will investment opportunities in 1st Pangyo Techno Valley as owners are free to buy and sell their assets. However, tenant industry regulations remain. The first assets coming to the market next year were developed in 2011 and valued at that time for about KRW12 to 13 million per pyeong (about USD 3,000 per sqmeter). We recommend investors looking for assets in Pangyo pay close attention to assets with incumbrances expiring in 2020 to respond promptly, even if the large number of individual owners in Pangyo may cause some difficulty in acquiring specific assets. 4 COLLIERS RADAR OFFICE | RESEARCH | SEOUL | 13 AUGUST 2020 ALPHA DOME CITY Alpha Dome City by Block Number Alpha Dome City was founded by 17 companies in 2007. It was NCSoft Kakao Naver established around Pangyo Station on a site of 138,000 square meters with investment capital of KRW5 trillion (USD4.17 billion). 6 - 1 6 - 2 Naver and Kakao take leases in blocks 6-1 and 2 Pangyo Station Recently, Kakaosigned a 10-year lease with MiraeAsset Global Investment for 6-1 block of Pangyo Alpha Dome City. The building is 6 - 3 6 - 4 expected be completed in October next year with a total floor area of ​​16,220 square meters on 15 stories above ground and 7 stories underground. Kakaoplans to lease the entire area and let its major affiliates including the KakaoPangyo Office move in from May 2022. 7 - 3 Meanwhile, for block 6-2 Naver will invest in MiraeAsset Global On going project Investment’s Fund, with the space allocated for Naver’s affiliates. Once Kakao and Naver moved in, we expect large-scale REITs based on these C2 Alpharium Tower 1,2 7 - 1 7 - 2 two Buildings to be listed through MiraeAsset Global Investment’s Fund.
Load more

Recommended publications
  • Reformation of Mass Transportation System in Seoul Metropolitan Area
    Reformation of Mass Transportation System in Seoul Metropolitan Area 2013. 11. Presenter : Dr. Sang Keon Lee Co-author: Dr. Sang Min Lee(KOTI) General Information Seoul (Area=605㎢, 10mill. 23.5%) - Population of South Korea : 51.8 Million (‘13) Capital Region (Area=11,730㎢, 25mill. 49.4%)- Size of South Korea : 99,990.5 ㎢ - South Korean Capital : Seoul 2 Ⅰ. Major changes of recent decades in Korea Korea’s Pathways at a glance 1950s 1960s 1970s 1980s 1990s 2000s Economic Economic Heavy-Chem. Stabilization-Growth- Economic Crisis & Post-war recovery Development takeoff Industry drive Balancing-Deregulation Restructuring Development of Balanced Territorial Post-war Growth pole Regional growth Promotion Industrialization regional Development reconstruction development Limit on urban growth base development Post-war Construction of Highways & National strategic networks Environ. friendly Transport reconstruction industrial railways Urban subway / New technology 1950 1960 1970 1980 1990 2000 2010 Population 20,189 24,989 31,435 37,407 43,390 45,985 48,580 (1,000 pop.) GDP - 1,154 1,994 3,358 6,895 11,347 16,372 ($) No. Cars - - 127 528 3,395 12,059 17,941 (1,000 cars) Length of 25,683 27,169 40,244 46,950 56,715 88,775 105,565 Road(km) 3 Population and Size - Seoul-Metropoliotan Area · Regions : Seoul, Incheon, Gyeonggi · Radius : Seoul City 11~16 km Metro Seoul 4872 km Population Size Density (million) (㎢) (per ㎢) Seoul 10.36 605.3 17,115 Incheon 2.66 1,002.1 2,654 Gyeonggi 11.11 10,183.3 1,091 Total 24.13 11,790.7 2,047 4 III.
    [Show full text]
  • FTSE Korea 30/18 Capped
    2 FTSE Russell Publications 19 August 2021 FTSE Korea 30/18 Capped Indicative Index Weight Data as at Closing on 30 June 2021 Index weight Index weight Index weight Constituent Country Constituent Country Constituent Country (%) (%) (%) Alteogen 0.19 KOREA Hyundai Engineering & Construction 0.35 KOREA NH Investment & Securities 0.14 KOREA AmoreG 0.15 KOREA Hyundai Glovis 0.32 KOREA NHN 0.07 KOREA Amorepacific Corp 0.65 KOREA Hyundai Heavy Industries 0.29 KOREA Nong Shim 0.08 KOREA Amorepacific Pfd. 0.08 KOREA Hyundai Marine & Fire Insurance 0.13 KOREA OCI 0.17 KOREA BGF Retail 0.09 KOREA Hyundai Merchant Marine 1.02 KOREA Orion 0.21 KOREA BNK Financial Group 0.18 KOREA Hyundai Mipo Dockyard 0.15 KOREA Ottogi 0.06 KOREA Celltrion Healthcare 0.68 KOREA Hyundai Mobis 1.53 KOREA Paradise 0.07 KOREA Celltrion Inc 2.29 KOREA Hyundai Motor 2.74 KOREA Posco 1.85 KOREA Celltrion Pharm 0.24 KOREA Hyundai Motor 2nd Pfd. 0.33 KOREA Posco Chemical 0.32 KOREA Cheil Worldwide 0.14 KOREA Hyundai Motor Pfd. 0.21 KOREA Posco International 0.09 KOREA CJ Cheiljedang 0.3 KOREA Hyundai Steel 0.33 KOREA S1 Corporation 0.13 KOREA CJ CheilJedang Pfd. 0.02 KOREA Hyundai Wia 0.13 KOREA Samsung Biologics 0.92 KOREA CJ Corp 0.11 KOREA Industrial Bank of Korea 0.22 KOREA Samsung C&T 0.94 KOREA CJ ENM 0.15 KOREA Kakao 3.65 KOREA Samsung Card 0.08 KOREA CJ Logistics 0.12 KOREA Kangwon Land 0.23 KOREA Samsung Electro-Mechanics 0.81 KOREA Coway 0.36 KOREA KB Financial Group 1.78 KOREA Samsung Electronics 25.36 KOREA Daewoo Engineering & Construction 0.12 KOREA KCC Corp 0.12 KOREA Samsung Electronics Pfd.
    [Show full text]
  • Retirement Strategy Fund 2060 Description Plan 3S DCP & JRA
    Retirement Strategy Fund 2060 June 30, 2020 Note: Numbers may not always add up due to rounding. % Invested For Each Plan Description Plan 3s DCP & JRA ACTIVIA PROPERTIES INC REIT 0.0137% 0.0137% AEON REIT INVESTMENT CORP REIT 0.0195% 0.0195% ALEXANDER + BALDWIN INC REIT 0.0118% 0.0118% ALEXANDRIA REAL ESTATE EQUIT REIT USD.01 0.0585% 0.0585% ALLIANCEBERNSTEIN GOVT STIF SSC FUND 64BA AGIS 587 0.0329% 0.0329% ALLIED PROPERTIES REAL ESTAT REIT 0.0219% 0.0219% AMERICAN CAMPUS COMMUNITIES REIT USD.01 0.0277% 0.0277% AMERICAN HOMES 4 RENT A REIT USD.01 0.0396% 0.0396% AMERICOLD REALTY TRUST REIT USD.01 0.0427% 0.0427% ARMADA HOFFLER PROPERTIES IN REIT USD.01 0.0124% 0.0124% AROUNDTOWN SA COMMON STOCK EUR.01 0.0248% 0.0248% ASSURA PLC REIT GBP.1 0.0319% 0.0319% AUSTRALIAN DOLLAR 0.0061% 0.0061% AZRIELI GROUP LTD COMMON STOCK ILS.1 0.0101% 0.0101% BLUEROCK RESIDENTIAL GROWTH REIT USD.01 0.0102% 0.0102% BOSTON PROPERTIES INC REIT USD.01 0.0580% 0.0580% BRAZILIAN REAL 0.0000% 0.0000% BRIXMOR PROPERTY GROUP INC REIT USD.01 0.0418% 0.0418% CA IMMOBILIEN ANLAGEN AG COMMON STOCK 0.0191% 0.0191% CAMDEN PROPERTY TRUST REIT USD.01 0.0394% 0.0394% CANADIAN DOLLAR 0.0005% 0.0005% CAPITALAND COMMERCIAL TRUST REIT 0.0228% 0.0228% CIFI HOLDINGS GROUP CO LTD COMMON STOCK HKD.1 0.0105% 0.0105% CITY DEVELOPMENTS LTD COMMON STOCK 0.0129% 0.0129% CK ASSET HOLDINGS LTD COMMON STOCK HKD1.0 0.0378% 0.0378% COMFORIA RESIDENTIAL REIT IN REIT 0.0328% 0.0328% COUSINS PROPERTIES INC REIT USD1.0 0.0403% 0.0403% CUBESMART REIT USD.01 0.0359% 0.0359% DAIWA OFFICE INVESTMENT
    [Show full text]
  • Metro Lines in Gyeonggi-Do & Seoul Metropolitan Area
    Gyeongchun line Metro Lines in Gyeonggi-do & Seoul Metropolitan Area Hoeryong Uijeongbu Ganeung Nogyang Yangju Deokgye Deokjeong Jihaeng DongducheonBosan Jungang DongducheonSoyosan Chuncheon Mangwolsa 1 Starting Point Destination Dobongsan 7 Namchuncheon Jangam Dobong Suraksan Gimyujeong Musan Paju Wollong GeumchonGeumneungUnjeong TanhyeonIlsan Banghak Madeul Sanggye Danngogae Gyeongui line Pungsan Gireum Nowon 4 Gangchon 6 Sungshin Baengma Mia Women’s Univ. Suyu Nokcheon Junggye Changdong Baekgyang-ri Dokbawi Ssangmun Goksan Miasamgeori Wolgye Hagye Daehwa Juyeop Jeongbalsan Madu Baekseok Hwajeong Wondang Samsong Jichuk Gupabal Yeonsinnae Bulgwang Nokbeon Hongje Muakjae Hansung Univ. Kwangwoon Gulbongsan Univ. Gongneung 3 Dongnimmun Hwarangdae Bonghwasan Sinnae (not open) Daegok Anam Korea Univ. Wolgok Sangwolgok Dolgoji Taereung Bomun 6 Hangang River Gusan Yeokchon Gyeongbokgung Seokgye Gapyeong Neunggok Hyehwa Sinmun Meokgol Airport line Eungam Anguk Changsin Jongno Hankuk Univ. Junghwa 9 5 of Foreign Studies Haengsin Gwanghwamun 3(sam)-ga Jongno 5(o)-gu Sinseol-dong Jegi-dong Cheongnyangni Incheon Saejeol Int’l Airport Galmae Byeollae Sareung Maseok Dongdaemun Dongmyo Sangbong Toegyewon Geumgok Pyeongnae Sangcheon Banghwa Hoegi Mangu Hopyeong Daeseong-ri Hwajeon Jonggak Yongdu Cheong Pyeong Incheon Int’l Airport Jeungsan Myeonmok Seodaemun Cargo Terminal Gaehwa Gaehwasan Susaek Digital Media City Sindap Gajwa Sagajeong Dongdaemun Guri Sinchon Dosim Unseo Ahyeon Euljiro Euljiro Euljiro History&Culture Park Donong Deokso Paldang Ungilsan Yangsu Chungjeongno City Hall 3(sa)-ga 3(sa)-ga Yangwon Yangjeong World Cup 4(sa)-ga Sindang Yongmasan Gyeyang Gimpo Int’l Airport Stadium Sinwon Airprot Market Sinbanghwa Ewha Womans Geomam Univ. Sangwangsimni Magoknaru Junggok Hangang River Mapo-gu Sinchon Aeogae Dapsimni Songjeong Office Chungmuro Gunja Guksu Seoul Station Cheonggu 5 Yangcheon Hongik Univ.
    [Show full text]
  • Coating-Drillships OGCP 2013.Pdf
    COATING SOLUTIONS FOR Korean shipyards are currently in the midst of a newbuilding boom for offshore drill ships. With the predicted opening up of exploration rights in the Arctic Circle, where it is believed about 30% of the world’s unexploited gas and 13% of oil lie, drilling companies are busy future proofing their fleets. Semi submersibles and jackup drill rigs were Stena Drilling chose a coating system of “AkzoNobel are traditionally built in Singapore. However, with the Intershield® 163 Inerta 160, the first ice abrasion DrillShips move into deep water exploration, state-of-the-art resistant coating to achieve class society Type able to offer drill ships are now necessary. Due to the complex Approval, to protect the hull of their ice strengthened us a complete Ballast tanks play a crucial role in drill ship operations; The onsite technical service that can be provided by nature of these vessels there has been a shift Arctic drill ship Stena Drillmax ICE. Stena Drilling product range they are critical to providing stability during drilling AkzoNobel was a critical reason in the selection process towards the more high tech yards of South Korea. specifically requested Inerta because of its 35 year and full technical operations offshore. The tanks create a very corrosive of the paint vendor by Ocean Rig. Vessels are built at Samsung Heavy Industries proven track record; with 1,300 applications to date support, and with environment as they experience cyclic conditions of and, more recently, Hyundai Heavy Industries and it has been used by numerous marine and offshore Intershield 300 we wet (full) and dry (empty) periods.
    [Show full text]
  • Holdings-Report.Pdf
    The Fund is a closed-end exchange traded management Investment company. This material is presented only to provide information and is not intended for trading purposes. Closed-end funds, unlike open-end funds are not continuously offered. After the initial public offering, shares are sold on the open market through a stock exchange. Changes to investment policies, current management fees, and other matters of interest to investors may be found in each closed-end fund's most recent report to shareholders. Holdings are subject to change daily. PORTFOLIO HOLDINGS FOR THE KOREA FUND as of July 31, 2021 *Note: Cash (including for these purposes cash equivalents) is not included. Security Description Shares/Par Value Base Market Value (USD) Percent of Base Market Value SAMSUNG ELECTRONICS CO 793,950 54,183,938.27 20.99 SK HYNIX INC COMMON 197,500 19,316,452.95 7.48 NAVER CORP COMMON STOCK 37,800 14,245,859.60 5.52 LG CHEM LTD COMMON STOCK 15,450 11,309,628.34 4.38 HANA FINANCIAL GROUP INC 225,900 8,533,236.25 3.31 SK INNOVATION CO LTD 38,200 8,402,173.44 3.26 KIA CORP COMMON STOCK 107,000 7,776,744.19 3.01 HYUNDAI MOBIS CO LTD 26,450 6,128,167.79 2.37 HYUNDAI MOTOR CO 66,700 6,030,688.98 2.34 NCSOFT CORP COMMON STOCK 8,100 5,802,564.66 2.25 SAMSUNG BIOLOGICS CO LTD 7,230 5,594,175.18 2.17 KB FINANCIAL GROUP INC 123,000 5,485,677.03 2.13 KAKAO CORP COMMON STOCK 42,700 5,456,987.61 2.11 HUGEL INC COMMON STOCK 24,900 5,169,415.34 2.00 SAMSUNG 29,900 4,990,915.02 1.93 SK TELECOM CO LTD COMMON 17,500 4,579,439.25 1.77 KOREA INVESTMENT 53,100 4,427,115.84
    [Show full text]
  • Original Equipment Application Passenger and Light Truck Tires
    2021 HANKOOK TIRE Original Equipment Application Passenger and Light Truck Tires United States of America hankooktire.com Future Innovated 2 Original Equipment Application FUTURE INNOVATED, Hankook continues to challenge and innovate to provide INNOVATION REALIZED the best value and enjoyment to our customer around with an ultimate aim of making the world. Hankook Tire & Technology is a truly global company future in our wildest imagination into a reality that we live and breathe. with 6th place in global sales. We have established production and R & D facilities, sales and marketing networks in Korea, China, and other Asian, European and North American regions, and sell high quality tires that combine technology and reputation to more than 180 countries. FUTURE GROWITH We are investing heavily in R & D and are proud of our ENGINES technology. Centering around the Hankook Technodome - THROUGH ITS which is expected to become the hub of proprietary INVESTMENTS technology acquisition and future technology - we have built global tech centers in the United States, Germany, China and Japan. Thus, our tires are suited to customers and road conditions around the world. ADVANCED TECHNOLOGY Hankook has been chosen as a partner in some of the SHOWCASED THROUGH world's premier racing competitions, such as DTM(German MOTOR SPORTS Touring Car Masters), F3 Americas Championship, and COMPETITIONS Formula Renault Eurocup, our technological know-how is fully demonstrated. Hankook has recently selected as the exclusive supplier of the Gen3 racing cars at the Formula E 3 Requirements for using Hankook tires For your safety and protection against serious injury or death, The following safety precautions and maintenance instructions must be observed at all times.
    [Show full text]
  • Company Profile Sbc Linear
    SBC Total Linear Motion Solution - Linear Rail System - Precision Ball Screw - Robot Carrier Guide - Cross Roller Guide - Linear Motion System SBC LINEAR www.sbclinear.co.kr COMPANY PROFILE Property of and Strictly Confidential to SBC Linear Table of Contents 『 SBC Linear 』Information Memorandum 『 Strictly Private & Confidential 』 1 Company Overview 03 2 Product Overview 07 3 Facility Overview 12 4 Clients & Competitors Overview 17 End of 2015 Property of and Strictly Confidential to SBC Linear 2 『 Strictly Private & Confidential 』 회사 소개 (Company’s Introduction) 『 SBC Linear 』Information Memorandum 1. 회사 개요 (Company Overview) 회사 개요 및 연혁 (Company Overview & History) . Incorporated in 1989. Manufacture and sales of Linear Rail System, Ball screws and etc. (necessary parts of factory automation system) / Exporting to 35 countries . 20 patents, 12 registered trademark, 4 production factories, a head office (Seoul) and 2 offices (Busan, Daegu), 150 employees ITEM INFORMATION YEAR INFORMATION Company SBC Linear Co., Ltd. 1989 • Incorporated (Seon Yeoung Trade company) Type of Manufacture and sales of Linear motion ball bearing 1993 • Outset of development for Linear rail system Business and etc. 1994 • Completion of the production factory (in Gimpo) Incorporated 07 September 1989 1995 • SBC Registered trademark LM Guide 1997 • Developed Linear rail system Ball Screw • Patent registration of Linear rail system Production 1999 Support Unit • “K-mark” certified by Korea Testing Laboratory Ball bushing (import) • Changed the company name to
    [Show full text]
  • Hyundai Heavy Industries
    A Report on Workplace Injuries at HHI HYUNDAI HEAVY INDUSTRIES SHOULD TAKE RESPONSIBILITY FOR THE DEATHS OF SUBCONTRACT WORKERS Korea Trans-National Solidarity for Worker’s In-house Subcontract Corporation Watch Health Workers’ Union in HHI (KTNC Watch) (SWH) (an affiliate of Korean Metal Workers` Union) April 13, 2015 Executive Summary In 2014, a total of 13 workers were killed in their workplace, while working for Hyundai Heavy Industries (HHI). The death toll was the highest in recent years. It is believed that workplace injuries have increased, although we cannot confirm it because HHI did not report all the injury cases to the authorities. In-house subcontract workers are particularly vulnerable to occupational injuries. Indeed, all of the 13 casualties in 2014 were in-house subcontract workers. In addition, workers’ healthcare costs are usually paid by the subcontractors or workers themselves, i.e. neither by HHI nor through insurance. Accordingly, workers cannot get adequate treatment or receive compensation for their loss. Subcontractors and their employees usually do not report workplace injuries or claim the workers’ compensation, for fear of discontinuation of their contracts or being fired, though they are under the national workers’ compensation system by law. The recent increase of death toll among subcontract workers is associated with the “risk-outsourcing” policy of HHI. HHI has never openly taken responsibility for injuries of in- house subcontract workers. HHI has also denied illegal cover-ups of such cases. Rather, HHI asserts that the subcontractors are responsible for workplace injuries and the purported cover- ups. However, all workers and their tasks are clearly under the control of HHI and it has not taken adequate health and safety measures for workers.
    [Show full text]
  • SEOUL City Guide
    SEOUL city guide Before you go Here are some suggested stays for every wallet size. These are conveniently located near the heart of Seoul, so it’s easy for you to get around! Budget Hotel USD 60/night and below ● Rian Hotel ● Hotel Pop Jongno USD 150/ night and below ● Hotel Skypark Central Myeongdong ● Ibis Ambassador Myeong-dong USD 300/night and below ● Lotte Hotel Seoul ● The Westin Chosun Seoul Before leaving the airport, be sure to pick up the following items. Item Location 4G WiFi Device KT Roaming Center at the following locations Incheon International Airport ● 1/F Gate 6-7, open 24 hours daily ● Gate 4-5 (From 1 Mar 2018), Daily 7am to 10pm ● Gate 10-11, Daily 6am to 10pm 4G SIM Card Incheon Airport International Airport Terminal 2 1st Floor Gate 2-3 KT Roaming Center, open 24 hours daily Gimpo International Airport (Seoul) 1/F Gate 1, Daily 7am to 11pm AREX Incheon Airport Incheon International Airport Terminal 1 Express Train One Way Transportation Center of Incheon Int'l Airport (B1F floor) Information Ticket in Seoul Center Opening hours: Daily, 5am to 10:40pm Incheon International Airport Terminal 2 Transportation Center of Incheon Int'l Airport (B1F floor) Information Center Opening hours: Dail, 5am to 10:40pm Alternatively, you can also exchange your tickets manually at the Express Train Ticket Vending Machine located at the Incheon Airport Station and Seoul Station Korea Rail Pass (KR PASS) Incheon Airport Railroad Information Center Opening hours: Daily, 7am to 9:30pm DAY 1 OVERVIEW Time Activity How To Get There Travel
    [Show full text]
  • Korean Multinationals Show Solid Recovery After Global Crisis
    Korean multinationals show solid recovery after global crisis Report dated November 16, 2010 EMBARGO: The contents of this report must not be quoted or summarized in the print, broadcast or electronic media before November 16, 2010, 10:00 a.m. Seoul; 1 a.m. GMT, and 9:00 p.m. November 15, 2010, New York. Seoul and New York, November 16, 2010 The Institute of International Affairs of the Graduate School of International Studies (GSIS) at Seoul National University in Seoul, and the Vale Columbia Center on Sustainable International Investment (VCC) at Columbia University in New York, are releasing the first annual report on leading Korean multinationals. The research for this report was conducted in 2010 and covers the period 2007 to 2009. 1 Highlights The Republic of Korea (henceforth ‘Korea’), the 11 th largest economy in the world, has now become one of the leading investors abroad. The number and the size of the corporate giants that dominate the economy have increased over the years, boosting and diversifying their investments around the world. Korea’s multinational enterprises ranked by their foreign assets (see table 1 below) show about USD 93 billion in assets held abroad. 2 Samsung Electronics Co., Ltd. (SEC), a member of a leading Korean conglomerate, ranked 1 st with slightly over USD 18 billion, followed by another top conglomerate member, LG Electronics, with over USD 10 billion dollars. Hyundai Heavy Industries Co., Ltd, and DSME Co., Ltd, had foreign assets of over USD 8 billion each and LG Display had over USD 6 billion. The top five firms together accounted for just over half of the total foreign assets of the top 20 companies.
    [Show full text]
  • Samsung Heavy Industries
    SHI SUSTAINABILITY REPORT 2015 SAMSUNG HEAVY INDUSTRIES OVERVIEW Message from the CEO Company Profile Management Philosophy Business Introduction Business Operation Process Governance Stakeholder Communication Aspect Boundary Materiality Test 1 Overview Message from the CEO Samsung Heavy Industries, which has shown continuous growth and remarkable development through turning countless adversities into valuable opportunities, now prepares for an even bigger leap forward on the basis of its decisive innovations. Dear Stakeholders, who trust and value Samsung Heavy Industries, Samsung Heavy Industries (hereinafter referred to as SHI), which has successfully executed various projects in shipbuilding and offshore fields since its foundation in 1974, consistently endeavors to reflect the voices of its stakeholders, including clients, subcontractors, employees, and local communities. Moreover, as a global industry leader, SHI is investing much effort in building reliable and eco-friendly ships and offshore production facilities. 2015 has been by far the most difficult business year for SHI due to significant challenges, such as the global economic recession, low oil prices, and a series of trials & errors in executing offshore projects. Despite such difficult conditions, however, SHI employees endeavored to maintain safety and quality as well as comply with delivery schedule by showing concerted commitment and dedication, thereby transforming the crisis into opportunities. th Not only has SHI promoted the importance of safety awareness by announcing January 19 as the official Safety Awareness Day, but it has also received the highest level of recognition in the Safety Assessment Evaluation, conducted by ExxonMobil, for 6 consecutive years. Moreover, SHI significantly improved quality by enforcing its 10 Quality Rule Implementation Check on a weekly basis for flawless delivery.
    [Show full text]