FRIDAY, FEBRUARY 23, 2018 WWW.SCMP.COM ¢ SPECIAL REPORT ¢ Friday, February 23, 2018 S1 INSIDE: 9-PAGE SPONSORED SECTION IN-COOPERATION WITH DISCOVERY REPORTS BUSINESS SOUTH KOREA REPORT TRADE REGION’S SECURITY KEY

TO ECONOMIC GROWTH The newly opened Incheon International Airport Terminal 2. SMART BUSINESS South Korea, the US and Asean must improve their strategic cooperation to tackle security concerns in the South China Sea and Korean Peninsula, writes NAZVI CAREEM Tech-savvy nation

The Association of Southeast Asian Nations (Asean) has has much to offer enjoyed deep economic ties with South Korea and the United States for decades. Lee Hill-choi profile international business South Korea is the region’s and sports events. second-largest trading partner Another important seaport – while the US is the fourth-largest South Korea is often overlooked and key transport hub – is for the 10 members states. by Western enterprises when Incheon, South Korea’s third- While economic relations they are looking for a business largest urban area, which forms remain robust, it is in regional hub in Asia. Surrounded by part of the Seoul National Capital security that the three sides can superpowers China and Japan, Area where global businesses are increase collaboration, says Lee and with its neighbour in the based around Songdo Jae-jyon, senior fellow at the north regularly overshadowing it International Business District, Asan Institute for Policy Studies in the media in times of rising considered one of the “smartest” think tank in Seoul. political tension, the land of K- cities in the world and the “There’s potential for Pop culture is not always the sovereign state’s first free strategic and security obvious choice for international economic zone. Some people cooperation,” says Lee, referring businesses to set up shop. have described the hi-tech city – to Asean-South Korea bilateral However, South Korea has which is built on reclaimed land relations. “Economic and socio- much to offer. According to 2016 – as the “smartest smart city in cultural cooperation is doing gross domestic product (GDP) the world”. Another hi-tech well and once governments pave figures by Britain’s Foreign and locale is Daegu with a population the way for [it] it’s the private Commonwealth Office, the of 2.5 million known for its sector that will move ahead with nation is the world’s 11th-largest technology as well as fashion and cooperation. [But] security and economy, and the fourth largest textiles industries. strategic cooperation is different. in Asia. This nation of 50 million The country’s logistics centre From the beginning to end, [this] people is known for its tech- is Yeongjong. At least, it aims to is the role of the governments.” savvy population and general be for the international Lee adds: “What are the wealth – unsurprising for a commerce community. shared interests? Both Korea and country that is home to global Connected to Incheon Asean face huge strategic brands Samsung, LG and International Airport, this island uncertainties coming from the Hyundai. is situated off the west coast of superpower rivalry [between The country tops the Incheon city. Expansion plans China and the United States]. Organisation for Economic for the airport may benefit this “Maybe even the joint efforts Cooperation and Development’s site as it means the creation of a of Asean and Korea are unable to (OECD) 2011 PISA rankings for special economic zone, a free- compete with the superpowers, digital literacy among 16 trade zone and international but definitely the combined participating nations, including business district. The project efforts can enlarge regional Hong Kong. Its infrastructure involves the construction of influence and help protect the includes the world’s greatest Terminal 2, which was smaller countries’ autonomous US Vice-President Mike Pence (left) with South Korea’s President Moon Jae-in at the Pyeongchang Winter Olympics on Sunday, but the relationship broadband penetration, completed this year in time for strategic space in the region, as between the nations is limited only to security matters in the Korean Peninsula, says Asan Institute for Policy Studies’ Lee Jae-jyon. Photo: EPA according to the UK’s the 2018 Winter Olympics. well as make their voices heard.” Department for International The promise for smart He says South Korea’s Trade (formerly known as the technologies was kept as the relationship with the US is Lee says the one issue meaningful contribution to the enjoy preferential tariffs and set FDI, with total inflow of US UK Trade Investment). facility integrated 24 full-body limited to security of the Korean unifying the interests of all three SCS issue, given its limited the stage for the FTA. $11.65 billion. There are several cities that scanners and 63 self-check-in Peninsula against the threat of – South Korea, the US and Asean strategic leeway.” Since the FTA came into It was noted at a meeting in are equipped to serve as counters. The new US$2.5 billion North Korean leader Kim Jong- – is the South China Sea (SCS), Economically, one of the effect, Asean-Korea bilateral Manila in November 2017, held dynamic enterprising hubs for hi-tech terminal is reputedly un’s Communist regime, while where China is seeking to exert foundations of the relationship trade has increased 92.3 per cent to commemorate the 40th foreign businesses. able to service 18 million its ties with Asean are mostly more control over areas claimed between Asean and South Korea to reach US$118.84 billion in anniversary of Asean-US The capital Seoul is the passengers a year. The increase economic and socio-cultural, by several Asean countries. is the Asean-Republic of Korea 2016, up from US$61.81 billion in Dialogue Relations, that US largest commercial centre in in visitors this month will serve with few discussions on security South Korea has generally Free Trade Agreement, which 2006. Foreign direct investment exports to Asean have supported South Korea with a population Seoul as well as PyeongChang or strategic matters. maintained an arms-length has been in effect since (FDI) flows from South Korea to more than 550,000 jobs in the US about 10 million, with various where the Winter Olympics Lee believes that it would be approach, but its is directly December, 2005. Asean have reached an annual and nearly 42,000 US companies industrial clusters bordering the continues until Sunday. hugely beneficial if the US linked affected, he says. The FTA, which covers goods average of US$6 billion over the export more than US$100 billion outskirts of the city. Seoul Chungju International its alliance with South Korea to “Korea has a huge stake in the and trade in services and past 10 years up to 2016 – a 5.4 worth of goods and services to National Capital Area Airport is the closest airport to its existing, strong economic ties SCS, but to a degree is investment, aims to remove increase in the 10 years before Asean countries each year. (Sudongwon) has more than the Osong Bio-Technopolis with Asean. “[South] Korea does constrained [if] taking a strong tariffs on almost all goods, the agreement. “US companies invest more 25.6 million people, accounting biocluster that is acknowledged not understand [the]potential [it stand,” he says. “In principle, liberalise trade in services and “Asean took its position as in Asean than in any other area for more than half of the to be South Korea’s health has] to be a regional actor in a Korea is not supporting any expand investment agreements Korea’s second-largest trading in Asia,” said Philippines country’s residents, and is industry hub, 170km south of the strategic sense,” he says. parties in the territorial dispute, to provide protection to Asean partner and Korea’s second- President Rodrigo Duterte, who considered the world’s second- capital in Chungcheongbuk-do. “Asean [seems to have this] but is clear that the issue has to investors in South Korea and largest investment destination,” chaired the meeting. largest metropolitan area. This The special zone is designed view that other major powers, be governed by relevant South Korean investors in Asean. Asean said in a joint statement. “We are committed to area also incorporates most of to attract foreign direct such as the US, China, India and international laws and that At the 49th Asean Economic “Among Asean’s dialogue continue strengthening Asean- Gyeonggi province and Incheon investment in a 4.6 million Japan, are crucial for its strategic freedom of navigation should be Ministers’ Meeting in the partners, Korea maintains its US economic ties by increasing city. square metre site, where foreign interests, while South Korea is guaranteed in the SCS. Philippines in September 2017, position as Asean’s fifth-largest two-way trade and investment.” The second largest companies investing in the not really that significant. “Beyond that, any further the region’s economic ministers trading partner and Asean’s fifth- On February 15, the two metropolis in the country is complex enjoy a range of tax “The US pushed South Korea active action, including joint also reiterated their largest external source of FDI.” entities signed the US-Asean Busan, which contains the benefits from the local to [take on a more] responsible patrols, is not a [viable] option at commitment to the Asean-Korea Two-way trade between the Connect agreement, a strategic world’s fifth-largest port. Its government, including a [role on wider regional security the moment. “[Also], Asean Free Trade Area, set up 14 years US and Asean in 2016 totalled framework that would deepen skyline is full of skyscrapers, such possible exemption from rent issues, which South Korea was countries are not that confident, ago, which is an agreement that US$211.8 billion and the US was the US’ growing economic as the 110-floor tall Lotte Super and corporate taxes of up to not quite ready to take on.” I guess, about Korea making any allows traders and exporters to Asean’s third-largest source of cooperation with Asean. Tower, and regularly hosts high- seven years.

DIGITAL CURRENCIES Blockchain expert confident barriers to ‘testing ground’ will ease

Peter Sabine brewing in late 2017, when Prime exchanges are implementing cryptocurrency exchange Youbit minimum capital expenditure, Minister Lee Nak-yeon related “know-your-customer” (KYC) lost 17 per cent of its total digital and institutional frameworks. speculation about procedures. “It is worrying that assets in a hack, with parent The uncertainty over these South Korea adopted high speed cryptocurrencies to crime and Ponzi schemes or other pyramid Yapian filing for bankruptcy. developments may hold the internet and associated pyramid schemes, a concern swindlers have caused many Nevertheless, Kim Kyoung- cryptocurrency model in Korea technologies early, making it a shared by many countries investors to suffer. The South soo is bullish about the future of back for the present as many in perfect fit for cryptocurrency. By including China, which has Korean government and cryptocurrencies in Korea. “A the global cryptocurrency some estimates, three out of 10 moved towards a complete ban. regulators are expected to draw recent survey of 2,000 young community see the model as workers have invested in South Korean Strategy and up appropriate and effective Americans found that more than expensive, overbearing and cryptocurrencies. Kim Kyoung- Finance Minister Kim Dong- regulations to protect the 30 per cent prefer to invest in infringing upon privacy. soo, head of Ether Lab, a leading yeon said in late January there interests of investors,” Kim Bitcoin to gold or stock “About 3 million people in blockchain research centre in would be no such ban, despite Kyoung-soo says. investments,” he says. “As can be South Korea, or 6.5 per cent of South Korea, says the country is noises from other officials. Despite the risks, new users seen from these surveys, the the total population, have the perfect testing ground for “There was little preparation and are moving in. Some analysts popularity of cryptocurrencies invested in cryptocurrency,” digital currencies. research to study such a rapid have placed the Korean won as will continue to grow. Large says Kim Kyoung-soo. “The “It’s no wonder that growth of blockchain technology the third most traded national public blockchains, such as government is heading toward cryptocurrency is so popular in and cryptocurrency, and the currency for bitcoin, and the Bitcoin, Ethereum and Bitcoin regulating the cryptocurrency South Korea,” he says. “The The Korean won is reputedly the third most traded national currency drastic changes affected the popularity shows no sign of Cash, will lead to the influx of market, but it is not providing market is more information- for bitcoin, and its popularity shows no sign of abating. Photo: Alamy stock market, the current stable abating, in spite of high profile funds on issues such as ETF precise guidelines.” sensitive than any other market. economic system, and hacks on digital token listings.” “The exchanges are not And South Korea is the world’s international remittances,” says exchanges. Reports say the country is closed or restricted to largest IT powerhouse, the flow to investors who enthusiastically internet news,” says Kim blockchain expert Kim Kyoung- Japanese exchange considering a system based on purchases,” Kim Kyoung-soo of information is faster than trade notoriously volatile Kyoung-soo. Korea’s Bithumb soo. Coincheck had US$530 million New York’s BitLicense model, says. “Existing investors are anywhere else in the world.” cryptocurrencies and hardly get ranks among the world’s top 10 The government has moved worth of digital tokens siphoned which only allows exchanges continuing to invest in The digital currency has any sleep. “Korean young people cryptocurrency exchanges. to prevent the use of anonymous from its accounts, affecting an that have applied for a licence to blockchain technologies and the gained so much traction that the are enthusiastic about Signs that an overheating bank accounts to trade estimated 260,000 customers. trade cryptocurrencies. This cryptocurrency market, and I term “Bitcoin Zombie” is the cryptocurrencies because of fast market would lead to a cryptocurrencies, and South This followed news that in entails more reporting think the barriers will gradually phrase of the day, with reference access of information such as cryptocurrency crackdown were Korean cryptocurrency December 2017 a South Korean requirements, an increase in fall apart.” S2 Friday, February 23, 2018 ¢ SOUTH KOREA REPORT ¢ Sponsored section in cooperation with Discovery Reports BRANKSOME HALL ASIA TAKES STUDENTS ON A DISTINCT LEARNING JOURNEY

Reports by Jess Kim and Victor Lanza

mpowered and perseverant. Analytical and agile. If educators put themselves in the shoes of hiring personnel, they would know that these are the Eattributes expected of graduates to secure future success. Fortunately for girls, Branksome Hall Asia identified these right from the school’s inception as the qualities it will instil in its students. “We were thinking, ‘What do 21st century students need to succeed when they join an interdependent world?’ At Branksome Hall Asia, there is focus and intentionality to ensure our girls acquire the requisite skills to thrive in a globalised community,” says Dr Beverley von Zielonka, principal Dr Beverley von Zielonka, principal. Located in the Jeju Global Education City in South Korea, Branksome Hall Asia passion for music? Need a model to students is the Grade 9 Exchange is the country’s only international test-run a project proposition? The Program. The programme takes them boarding school for girls. It is a sister school has a symphony orchestra and halfway across the globe for case studies school of the 114-year-old Branksome Hall 3D design studio. and solution presentations with their in Toronto, Canada, which is one of the “At Branksome Hall Asia, the girls sister students, and as a way to broaden world’s top-ranked boarding schools. take centre stage” says Jay Kim, director their horizons. Last year, it was at the Since its inauguration in 2012, the school of marketing. “They can have all the Rotman Business School in Toronto, has given Korean nationals, children of leadership roles. All these different Canada, whose officers were amazed at expatriates and students from opportunities might be missed in a how Branksome Hall Asia girls neighbouring countries conveniently coed situation.” conducted themselves and addressed located access to a world-class education Devised to develop cross-discipline their authentic international community without them needing to go as far as the thinking, its curriculum adheres to the studies. This year, students will United States, Britain or Canada. IB framework. There are discrete subjects, experience apprenticeships at a local Branksome Hall Asia is authorised to but units are planned with overarching television station. run the International Baccalaureate (IB) themes, therefore students can, for Results continue to inspire the school programme and offers a continuous instance, relate what they learn in history to expand collaborative opportunities. education framework from junior to science. Subjects are taught in English. Branksome Hall Asia seeks partnerships kindergarten to grade 12. The school’s Students have access to Mandarin with universities and schools worldwide state-of-the-art campus provides a caring lessons. There are Korean language and for exchange programmes and internship environment where girls can “discover history subjects. All students graduate agreements. For instance, one university their remarkable”. with a bilingual IB diploma and has its students doing practicum work at Technically and collaboratively participate in extracurricular activities in Branksome Hall Asia. The school advanced learning spaces, STEM-V four areas: creativity, action, service and continues to add company opportunities laboratories and studios, Olympic-size enrichment (CASE). for the girls’ apprenticeships, with swimming pool, hockey arena, golf With the help of exceptionally trained summer school programmes and academy, acoustically advanced teachers from around the world, and the partnerships with local communities. performance arts centre, the school’s own school’s meaningful partnership with the Foreign students and teachers may television station, home-away-from- parents, students feel empowered in think of Branksome Hall Asia as a home residential halls and other facilities knowing they can meet challenges and destination school amid the attractive have been deliberately designed to create solve problems. Girls at Branksome Hall sights in Jeju. There’s every reason for as many opportunities as possible so that are confident to do TED Talks, become young girls across the world to enrol at students can find their voice and realise aeronautical engineers, and more. Branksome Hall Asia and discover her their talents and capabilities. Have a One capstone programme that excites remarkable.

KOWEPO’s Taean plant will be transformed into a renewable multi-purpose power-generating facility. KOWEPO EYES SUSTAINABLE GROWTH AS INTERNATIONAL ENVIRONMENTALLY FRIENDLY ‘POWERHOUSE’ COMPANY

As part of its sustainable green growth strives to deliver happiness to people. Its accounts for 10 per cent of the national initiative, Korea Western Power focus is on enhancing quality of life via total generation capacity. From having (KOWEPO) – a prime mover and innovator sustainable performance improvements corporate assets at merely 2.9 trillion won in the 21st century Korean power industry and green technology developments to in 2011, KOWEPO’s corporate assets – has set a challenging goal of converting minimise the emission of environmental surged to 9 trillion won to date. 20 per cent of its total power generation pollutants. In line with this strategic In 2016, KOWEPO recorded the capacity into renewable energy. direction, KOWEPO started commercial world’s highest level of reliability in power To achieve the target, 6.15 trillion operations of an integrated gasification generation facilities with a 0.055 per cent South Korean won (HK$44.5 billion) will be combined cycle (IGCC) power plant at the breakdown rate and a 0.076 per cent invested by 2030. KOWEPO is already Taean complex in August 2016. The unplanned loss rate. The company making tremendous efforts to transform eco-friendly facility, with installed capacity intends to further improve power its conventional Taean thermal power of 346.3MW, is the first commercial IGCC generation cost and operational efficiency complex into a renewable multi-purpose project in South Korea and one of only by using big data and the internet-of- power-generating facility. Located within seven worldwide. things technology. the Taeanhaean National Park in The Taean IGCC power plant is a Capitalising on the world’s best Chungcheongnam-do, the 6,100MW major leap forward for KOWEPO as a experience and know-how gained from its thermal plant is the largest coal-fired global environmentally friendly energy core business, KOWEPO is establishing its power station in South Korea and the core corporate. IGCC technology uses a high- position as a global power company by power generation facility of KOWEPO. pressure gasifier to turn coal into a constructing and operating power plants Ensuring that plant operations are in synthesis gas. It is superior in generating around the world, such as in Saudi Arabia, harmony with its surrounding efficiency and environmental pollutant India, Myanmar and Indonesia, including environment, the Taean complex is substance removal efficiency. In addition a hydroelectric power plant in Laos. outfitted with the latest flue gas to further commercialising the In Vietnam, KOWEPO has announced desulphurisation facilities, continuous technology, KOWEPO is looking at the plans to implement a 1,200MW coal-fired coal handling machines and wastewater feasibility of integrated gasification fuel power plant in Quang Tri province and a treatment facilities. The complex is the first cell technology. joint 200MW photovoltaic power plant among Korean power plants to receive Since its spin-off from the Korea project in the mid-southern area. In ISO14001 and ISO9001 certification. Electric Power Corp in 2011, KOWEPO has Indonesia, KOWEPO operates and In May 2016, KOWEPO brought online achieved remarkable growth year by year. maintains the Sumsel-5 coal-fired power a 1.84MW waterside photovoltaic power In addition to the Taean facility, KOWEPO plant and is in talks to venture into unit at the site. Additional renewable operates three eco-friendly power biomass-based power generation. energy plants are planned to be built at the complexes: Pyeongtaek, Seoincheon and By 2030, KOWEPO is expected to Taean complex, including wind and Gunsan. operate 11,000MW of power generation hydroelectric power units, along with a The four facilities, together with the facilities all over the world apart from its 50MW waterside photovoltaic power company’s renewable energy plants, have South Korean capacity, and record plant in the lake near the complex. a combined capacity of almost 12,000MW, 1.5 trillion won in overseas sales, making it Beyond energy generation, KOWEPO up from 6,000MW in 2011. KOWEPO a truly global power company. Friday, February 23, 2018 S3 ¢ SOUTH KOREA REPORT ¢ Sponsored section in cooperation with Discovery Reports FINOTEK’S DIGITAL SOLUTIONS MAKE BANKING MORE CONVENIENT, ACCESSIBLE AND REWARDING

intech, a portmanteau of financial unnecessary procedures of walking over technology, has emerged as a to a branch and going through the lengthy thriving sector within the global process of setting up accounts or applying financial services industry, for a loan.” attracting some US$17.4 billion in With more than 80 per cent of South Finvestments in 2016, according to Korean financial firms relying on Finotek’s Ernst & Young. Fintech firms have gained fintech platform, the technology provider significant market traction with their ability is broadening its horizons to the overseas to tap into today’s digitally active and market. Finotek Global, a holding sophisticated consumers, including company based in Portugal, was tech-literate but financially underserved established early last year and will be populations in emerging markets. Finotek, followed by the creation of a joint venture a fast-growing South Korean fintech that will handle expansion in nine company, is building a solid imprint in this countries in South America and Africa. niche sector with its cutting-edge, Henry Kim, CEO “We also see strong opportunities to all-digital mobile-powered solutions. diversify into Asia’s emerging markets, “With fintech entrants reshaping particularly in Vietnam, Indonesia and customer engagement models, banks mobile-based e-signature verification and Myanmar,” Kim says. “With the region’s and other traditional financial institutions fraud prevention. growing economies and rapidly have to make fundamental changes to Finotek is the developer of the NF2F expanding tech-savvy middle class, Asia remain competitive,” says Henry Kim, mortgage loan solution, the world’s only will be the centre of fintech adoption.” Finotek’s CEO. “We can help them integrated real estate mortgage loan Finotek is keen on forming strategic deploy solutions in the digital space to platform. The cloud-based, fully mobile partnerships to provide its low-cost enhance customer experience, making and one-stop platform automates all mobile financial solutions to more of Asia. banking more convenient, accessible mortgage processes, with the entire The South Korean firm is in the process of and rewarding.” procedure done in 30 minutes without setting up subsidiaries in Vietnam and Since 2008, Finotek has focused on requiring the customer to visit a branch. Myanmar where it is in discussion with developing a full range of mobile banking The NF2F mortgage loan solution has potential partners. Finotek is holding talks solutions that supports remote internet been adopted by major Korean banks with two leading Vietnamese financial banking services with real-time while the robot counselling-based NF2F institutions to deploy its mobile banking ID verification. With its recognised will be unveiled in collaboration with platform and may soon finalise two similar technology, Finotek has been included in Citibank Korea. deals in Myanmar. the Technology Fast 500 Asia-Pacific The latest innovation from Finotek is This year, Finotek will launch the rankings by Deloitte in 2016 and 2017. a robot-based financial platform service FinoContract, an electronic contract One of its core fintech technologies called FinoPlace, which offers the service, based on electronic document, is the FinoBot, a robot-based financial advantages of offline and online channels. handwritten signature, and robot and counselling system that utilises FinoPlace won the Fintech Platform Award blockchain technology, to provide app- in-house-built artificial intelligence at the second Hankyung Fintech Award based solutions to existing platforms. technology to automate responses to held last year. The company will also develop an customers’ questions. With FinoBot as a “Today’s more demanding, advertising and e-commerce platform total counselling solution, employees can tech-savvy customers embrace mobile based on contextual information. It is be reassigned to more sophisticated work. and digital banking services because they evolving from a solution provider to a The Seoul-based company also offers are easily accessed, fast and more service provider, and is expanding FinoContract, a signature and context- engaging,” Kim says. “With our fintech globally via business-to-business and based authentication solution for solutions, customers can avoid the business-to-consumer marketing.

PIXELPLUS’ MOVING IMAGE HDR SENSORS PRODUCE CLOSE-TO-REALITY, CRYSTAL-CLEAR IMAGES

Complementary metal-oxide- engine – also freed the company from semiconductor (CMOS) technology is having to source materials from various about to reach another pinnacle with vendors. This substantially lowered the launch of moving image high-dynamic- production cost, which provided better range (HDR) sensors in the automotive accessibility to penetrate the mobile industry. Pixelplus, a pioneer in CMOS phone market. technology, invested two years developing In much the same manner, Pixelplus is this solution, which produces close-to- the company behind the miniaturisation of reality images without visible defects endoscopes. Through chip-scale despite motion and lighting interference. packaging, edible endoscopes were “HDR technology was developed developed to aid health professionals for several years ago on the image signal Dr SK Lee, president and CEO accurate diagnosis. The company is processing (ISP) level, but the issue with expecting to expand medical scope by digital artefact persisted. Our solution is an engaging this chipset into different image sensor technology that eliminates artefact because applications such as arthroscopes. Also, with superior device and functionality is built inside the image sensor itself,” says circuit engineering capabilities, Pixelplus wrote the history of Dr SK Lee, president and CEO of Pixelplus. adapting CMOS technology to boost the security industry The company’s moving image HDR sensor is a system-on-a- through imaging innovation. chip that also meets the auto industry’s requirement for a high- “Building good relationships with customers is our first quality yet cost-effective alternative. It is expected to revolutionise priority. We value our customers and we go where they want us to several industries as new paths emerge with the imaging be. This philosophy has led our sales and marketing team to be innovation, including improved law enforcement with the ability market-friendly,” says Tasha Lee, strategic planning team leader to capture crystal-clear moving images. at Pixelplus. Pixelplus has been highly regarded as a specialist in ISP- Already a major supplier in mainland China, the company embedded CMOS image sensors since the early 2000s when it aims to grow its presence across Asia over the next five years. It triggered an industry shift with CMOS technology. Its system-on- welcomes partnerships with local designers and well-entrenched a-chip solution was the tiniest chip scale package (CSP) image marketing companies in the Chinese and Japanese markets. sensors had ever seen at the time, and allowed companies such “Our plan is to be among the global top five image sensor as Samsung Anycall to offer new generations of mobile phone providers, especially for the automotive industry based on new devices. The product – CMOS image sensor with an integrated ISP camera platforms,” SK Lee says.

PHARMABCINE EXPEDITES GROUNDBREAKING CANCER TREATMENT

PharmAbcine, a clinical stage immuno- In order to address the rapidly growing oncology company developing next- prevalence of cancer in Asia, specifically in generation antibody therapeutics for China and Southeast Asia, PharmAbcine unmet medical needs, has established licensed Tanibirumab (TTAC-0001) and its anti-cancer drug candidate Tanibirumab PMC-001 (DIG-KT), its novel bi-specific (TTAC-0001) as one of the most promising antibody that stops tumour growth, to in the global pipeline. To prolong the lives Shenyang-based 3SBio in 2014/2015. The of terminally ill patients and raise their collaboration could eventually address quality of life, the company is pursuing cancer in the stomach, lung, liver, pancreas, partnerships that would advance treatment ovaries, brain and breasts. for aggressive cancer conditions. “The clinical value of anti-cancer drugs This month, the company executed its Dr Yoo Jin-san, president and CEO rests on tumour vessel normalisation and joint drug development with MDS, Merck’s its switch from immune-suppressive to international arm. They are testing the immune-supportive of tumour combination of Tanibirumab (TTAC-0001) and immunotherapy microenvironment. Tanibirumab (TTAC-0001) is a great drug Keytruda. opportunity because it delivers both,” Yoo says. “The response rate of approved immune checkpoint PharmAbcine is inviting global investors to participate in the blockade drugs is still at a low 20 per cent. Since Tanibirumab development of what could be the breakthrough in the treatment (TTAC-0001) is safer and efficacious, its combination with of aggressive cancer conditions. The company aims to raise US Keytruda will be more synergistic for unmet medical needs such $30 million to finance clinical trials for different cancer conditions as brain tumours and triple-negative breast cancer,” says in the United States, Australia and Europe. It has networked with Dr Yoo Jin-san, president and CEO of PharmAbcine. research institutes across the US to spur studies. “Tanibirumab (TTAC-0001) and Keytruda are able to pass the To mark PharmAbcine’s 10th anniversary this year, Yoo blood-brain barrier, so we hope to tackle many solid tumours that intends to take the company public and expand distributorship to advance to brain metastasis with our combination trial.” more territories. The company is intent on commercialising two Meanwhile, a leading global biotechnology company products by 2022. headquartered in South Korea will collaborate with PharmAbcine “Every drug development evolves – every day, there are for future medical needs. This partnership could bolster various tonnes of papers and research results to review. Not everything is natural killer (NK) cell therapy and chimeric antigen receptor helpful, but we keep track of critical developments because cancer T/NK therapy. also evolves,” Yoo says. S4 Friday, February 23, 2018 ¢ ¢ Sponsored section in cooperation SOUTH KOREA BUSINESS REPORT with Discovery Reports EUSU STEERS FUTURE OF SHIPPING EUSU LOGISTICS DELIVERS COMPLETE WITH INFORMATION TECHNOLOGY SCM SOLUTIONS

AND INNOVATIVE TOTAL LOGISTICS Moving goods from point A to B has never been so easy – at least for clients of Eusu Logistics. A market leader in terms of global network, information technology (IT) and process he roughest seas bring to shore the achievements by establishing a management Choi Eun-young. “Eusu will continue and bulk marine transport, covering terminal capabilities, Eusu Logistics orchestrates total toughest survivors. When one of the system that strengthens the transparency strengthening its shareholder-centred operations and sea routes from North America solutions specifically tailored to individual biggest storms in recent history hit the and efficiency of corporate governance management activities by focusing on revenue to Europe, the Pacific Ocean and the Atlantic client requirements. The result is a growing global shipping industry, Eusu Holdings management. generation, establishing a vision, enhancing Ocean. Under its IT division, Eusu provides IT list of international manufacturers and retailers came out stronger, wiser – and ready for The group exemplified such commitment in brand values and materialising growth strategies services and solutions for marine transport with more time to focus on improving their Tmore challenges in the future. 2015, when Eusu bounced back from a huge loss by expanding the business structure and pursuing and logistics. bottom lines. Formerly Hanjin Shipping Holdings, Eusu amid the global shipping industry financial crisis stable business administration after developing “Restructuring the business and attracting a “We look at the logistics industry in the past gradually transformed from an operating to a net profit of about US$40.8 million. new businesses.” bigger global clientele breathed new life to Eusu, as merely moving simple freight. Nowadays, it company into a future-oriented group. Navigating “Eusu’s subsidiaries played a significant role While Eusu’s subsidiaries remain to operate but innovation and technologies will ensure that has become quite complicated,” says the seas since 1949, the company has contributed in the group’s successful recovery, particularly mainly in the shipping industry, the group has Eusu steers towards sustainability and CEO Song Young-kyu. “We take on that task so Song Young-kyu, CEO to the global economy by connecting continents total logistics company Eusu Logistics and diversified into related innovative, solutions- continuity,” Choi says. “Through these, Eusu clients can lower logistics cost and increase and facilitating trade. When it launched as Eusu in information technology (IT) consultancy firm driven businesses. strives to boost value for the group, its time efficiency.” 2009, it committed to transcending its CyberLogitec,” says Eusu chairwoman The shipping division comprises container subsidiaries, clients and shareholders.” A good case in point is Eusu Logistics’ countries in Europe, Asia and the Middle East. experience with one of its South Korean clients These offices are fully owned subsidiaries, thus that has many factories in multiple countries. The giving the company full control and flexibility over challenge was how to deliver the clients’ products the range of services it can offer. from multiple origins to their final destination on Eusu Logistics provides differentiated total time. Existing logistics providers are good at logistics solutions that cover ocean and air freight CYBERLOGITEC CHARTS FUTURE OF moving products from various ports of origin to forwarding, warehouse and distribution, customs destination ports, but the client had to deal with clearance, container freight station and cargo multiple logistics transactions and costs under this consolidation. What sets the company apart from LOGISTICS BY DIGITISING VALUE CHAIN set-up. By contrast, Eusu Logistics’ Multi Origin the competition, however, is its excellent skill in Consolidation Service provides cost-effective bundling these services into one seamless supply benefits. Experienced Eusu Logistics staff chain management (SCM) process from raw Big data and the internet of things are rapidly information technology, with a key emphasis on interchange, accounting and warehouse business territory for us, but logistics is a global members consolidate products at a hub port to materials sourcing through to packaging and changing the way the logistics industry does providing solutions,” says Dr Choi Jang-rim, CEO. management. business,” Choi says. “A container may be simplify destination shipping and to save on costs, doorstep deliveries. business. Accurate and rapid data processing and “About 99.9 per cent of our customers’ issues are CyberLogitec has also ventured into exported from Shanghai, but its consignee may particularly ocean freight and destination charges. “The key word is integration, and we stay management have become vital to supply chain related to money. Our solutions target two areas – automated platforms for the logistics industry that be from the United States. “We take care of our clients’ problems all the competitive and relevant in the market by integration – and with Asia-Pacific’s rising saving cost and enabling increased revenues, ensure predictable and reliable operational Though Asia is the biggest way to the end,” Song says. “We collect products adhering to this business philosophy,” Song says. prominence in global commerce placing regional with the added value of improving service quality performance – such as its highly integrated market, our plan to at a hub port. Customers think it takes more time to “We are always coming up with ways to add value supply chains under mounting pressure to meet and customer satisfaction. We are practically the terminal operating system platform called OPUS expand ship cargo from one point to a hub port and then and help manufacturers and retailers reach growing trade and evolving cross-border only specialised enterprise software company Terminal. Designed for container terminals and internationally isn’t move it to the final destination. Eusu Logistics, maximum operational efficiencies.” challenges, the need for streamlined end-to-end capable of covering the entire logistics process multipurpose terminals, OPUS Terminal has been just our target – it’s a however, knows how to ship cargo without In particular, the company boasts of the Eusu logistics solutions that simplify processes and from door to door.” successfully rolled out in more than 50 terminals necessity.” requiring additional time.” Logistics Information System (ELIS). Developed optimise cost is high. Working with top global shipping lines in 12 countries – providing full coverage of an in-house in collaboration with sister company and CyberLogitec – a Eusu Group subsidiary and and terminals, CyberLogitec offers three entire terminal operation by integrating different software specialist CyberLogitec, ELIS achieves sister company of Eusu Logistics – is a leading distinct products. protocols under a single umbrella. Dr Choi Jang-rim, Eusu Logistics real-time monitoring capability for clients. Using enterprise software company for the logistics In sea transport, the company provides a “We always try to give new value – not just to CEO provides differentiated this system, the company can help a bottled water industry and one of the few in its field offering convenient container carrier service called our customers, but to the entire logistics manufacturer in South Korea and other clients information technology (IT) solutions to ALLEGRO – a total shipping operations solution industry,” Choi says. “CyberLogitec consists of total logistics solutions track the journey of every single item from the seamlessly optimise sea and land transport and that unifies, standardises and systemises all three words – cyber, logistics and factory to the buyers’ warehouse. port operations. container line business processes. ALLEGRO’s technology. As a value creator, our that cover ocean and “We are not only delivering cargos for clients Founded in 2000 as a spin-off from Hanjin stable operating environment, user-friendly mission is to improve global business air freight forwarding, but are also enabling them to reduce their pipeline Shipping, CyberLogitec was originally established interface, data standardisation and centralised standards by optimising the value of inventories and costs,” Song says. “We take out to provide IT services solely to Hanjin. The control enhances process management and time and space in logistics through warehouse and uncertainties from their supply chains.” company redefined its business direction in 2007 – enables integrated business on a global scale. cyber technology.” Such access to meaningful big data has also transitioning from a dedicated IT service provider In freight forwarding and warehousing, With an upcoming joint venture distribution, customs helped Eusu Logistics expedite customs clearing, to a leading enterprise software company. CyberLogitec provides a highly integrated in India and an offshore clearance, container schedule precise workflows for transloading or Providing an integrated platform ensuring the web-based platform designed to organise development centre in Vietnam, cross-docking operations, and plan the transfer of total management of end-to-end operations and coordinate every aspect of a global CyberLogitec is focused on a freight station and whole production facilities from China to Vietnam, within the maritime, port and logistics industries, freight forwarding business. global expansion beginning with as in the case of one of its clients. CyberLogitec aims to enhance global business OPUS Logistics contributes to cohesive plans to improve its market cargo consolidation “We are a strategic and interorganisational standards by optimising business processes in a end-to-end operation for more streamlined position in Asia. The company partner that coordinates business processes to way that maximises productivity and profitability. shipment by automating and centralising looks to expand its scope in With roots in the United States as a spin-off deliver superior value to customers,” Song says. “CyberLogitec was born as a creative standard operation procedure management, Europe and the Middle East. from Hanjin Shipping’s 3PL division, Eusu “We envision Eusu Logistics becoming one of the convergence between business knowledge and custom filing and shipper electronic data “Asia is a very important Logistics is present in 39 major cities in 20 strongest in the market across Asia.” Friday, February 23, 2018 S5 ¢ ¢ Sponsored section in cooperation SOUTH KOREA BUSINESS REPORT with Discovery Reports A-SUNG PREVAILS AS TRUSTED PARTNER OF TOP ELECTRONIC COMPONENT BRANDS

ecognised as the trusted partner of top brands such as Murata, Omron, Rohm and Richtek, A-SUNG International has built a track record of dependability and Rsteady growth. The rising global success of the 26-year-old electronic parts distribution Yoon Hee-chong, president and CEO company is not an overnight feat. Its achievements were gained from almost three decades of building employee empowerment, a strong sales force, a solid product portfolio and trusted GLOWONE FORGES AHEAD partnerships. Through the years, A-SUNG’s accomplishments have also become evident in its year-on-year figures that WITH LED SOLUTIONS continuously break records. Last year, the electronic parts distributor exceeded its goals with about US$200 million in sales, 35 per cent of which came from the FOR A DIGITAL WORLD overseas market while the domestic market share accounted for the rest. Through the convergence of technologies, light-emitting diode Having started as the South Korean (LED) lighting contributes to provide smart solutions for today’s GlowOne’s high-bay series distribution agent of the Japanese digital lifestyle. GlowOne, South Korea’s leading proponent of uses magnesium-based electronic parts manufacturer Murata in LED technology, is at the forefront of such innovation with its total 1992, A-SUNG keeps itself in the lead with commitment to eco-friendly, green growth. alloy and aluminium housing an empowered workforce. “I personally Founded in 2010 as POSCO LED, GlowOne is a global market believe that A-SUNG’s overall key to leader in LED lighting especially for industrial applications. designed to prevent success is the company’s satisfied Acquiring SKC Lighting in October last year, GlowOne aims to be overheating, ensuring employees,” says Kwon Oh-sang, in a league of its own. Its cutting-edge solutions are derived from chairman and CEO. long-standing test-bed focused on optics, radiation and circuit investment returns on “At A-SUNG, we allow our executives technologies. facilities lighting to manage their employees With installations across 100 industrial sites in 22 countries, independently, and we empower them the company has demonstrated success in facilities as diverse as with the right tools. Hence, A-SUNG’s steel mills, semiconductor clean rooms and skyscrapers such as In addition, GlowOne has applied an internet-of-things approximately 160 employees enjoy Frankfurt’s MesseTurm. platform to LED lighting. One of its innovations is blue light control what they do and, in return, they commit POSCO, which is the world’s first steel mill to embrace LED technology to prevent eyesight damage from lighting. to bring their best and innovative ideas in lighting, and SK Hynix, a prominent semiconductor company, are GlowOne’s continuous innovation has made a global impact the company.” among GlowOne’s long-time customers. on productivity optimisation and carbon mitigation. It is forging Aside from a motivated workforce, “Innovation is always customer-driven, and we deliver total ahead with a special focus on the automotive, new material and A-SUNG’s strength further stems from its solutions because they maximise energy savings from LED internet-of-things applications of LED lighting. high credibility in the industry. lighting,” says Yoon Hee-chong, president and CEO. The company is keen on forming partnerships in Asia, Since its establishment in 1992 and Kwon Oh-sang, chairman and CEO GlowOne’s high-bay series uses magnesium-based alloy especially in Vietnam, Indonesia and Singapore, with local the creation of four offices in Shanghai, and aluminium housing designed to prevent overheating, players that have a strong market presence and solid capabilities Shenzhen, Hong Kong and Tianjin in ensuring investment returns on facilities lighting. Lately, it has in engineering, services and installation. China, and two offices in Hanoi and Ho Chi win-win synergy between our Kwon Seok-il reveals that A-SUNG is Pacific is predicted to expand at a 9.1 used 100 per cent magnesium, which makes the fixtures even “We would like to explore knowledge transfer opportunities Minh City in Vietnam, the South Korean empowered sales force and the value of investing aggressively in new per cent compound annual growth rate lighter. Designed in collaboration with POSCO, the product will be in Southeast Asia, where a technological breakthrough could lay company now serves more than 1,000 the products that we distribute has technologies including voice recognition during the period from 2015 to 2023. available starting this year. the foundation for sustainable living,” Yoon says. small business enterprises across Asia. become our competitive strength.” to realise internet-of-things and artificial Kwon Oh-sang attests to the The company has been making global The company is consistently intelligence applications. company’s continued growth in the investments, refusing to be restricted to approached by potential partners who “We understand that these new region. “We recognise the importance of South Korea. By providing reliable and offer to distribute its products. “Although technologies will transform the future, so our strong presence in the region efficient service to its large customer base, we are open to partnerships, we are still our goal is to achieve success in this especially in China,” Kwon Oh-sang says. A-SUNG is constantly rated as an excellent strict with our evaluation process,” market,” Kwon Seok-il says. “Our solid base in Vietnam is equally P&S TECHNOLOGY agent by vendors. Kwon Seok-il says. “We want to make Looking further, the future for essential. We have strategic plans to “The fundamental products that we sure that the potential partners are A-SUNG stays bright, according to expand our markets in India and other sell are Murata’s electronic component aligned with A-SUNG’s philosophy and forecasts on the electronic components Southeast Asian countries. It may be parts,” says president Kwon Seok-il. “This customer values.” market. Based on a reputable industry difficult for global electronic component IMPRESSES CLIENTS WITH Japanese company has entrusted us with A-SUNG is scoping new businesses in report, the global active electronic brands to enter these regional markets, great confidence in distributing its order to maximise the quality of its components market will reach US$376.9 hence we offer them A-SUNG’s trusted PASSIONATE INNOVATION products in the region. I believe that the product portfolio. Moving forward, billion by 2023. It also states that Asia- partnership.”

Speed and precision are essential amid the globally rising “We have the capacity and know-how to meet the most demand for fast-moving consumer goods (FMCG). complex specifications, along with our machines that address Over the past 20 years, P&S Technology has carved a niche in intricacies such as narrow necks or mouths and varying shapes DISCOVERY REPORTS GROUP BUILDS this space with its robust technical expertise in packaging of containers.” inspection technology that ensures product integrity and P&S brings only the best customised products to market consumer safety. through manufacturing that involves clients at every stage, with STRATEGIC EDITORIAL PARTNERSHIPS Despite intense competition from global heavyweights, the the help of research institutes and government laboratories. Such company stands out in the FMCG and pharmaceutical industries a collaborative approach has led to the development of with its capacity for total client engagement. automated inspecting machines that function at rates of 1,000 WITH COMMUNICATIONS SERVICES UNIT “Customisation is very important,” says Park Won-jae, bottles per minute and 3,000 caps per minute. president. “We customise each and every product in accordance P&S is renowned for delivering quick results within 24 hours with the clients’ specifications for their utmost satisfaction. when there is trouble, and in real time if needed. With a passionate Building a strong international reputation comprehensive service offering for Communications Services offers niche companies, giving them a valuable team of experts dedicated to address customers’ needs, P&S is over a span of 18 years as a producer of companies needing assistance with professional content creation and opportunity to highlight their strategic able to provide before- and after-care services, including remote special country-focused business reports, editorial requirements. editorial review of all corporate strengths and reach out to key markets To benefit a wider range assistance. Satisfied repeat customers include Coca-Cola, Discovery Reports Group (DRG) has not “Our new communications services publications, from press releases and and players in China and across Asia. AmorePacific, LG, Dai Nippon Printing and Hon Chuan. just witnessed the economic development unit enables companies to convey their marketing materials to annual reports, It is an impactful communication tool of customers, P&S is “We strive to touch the customers’ minds, to move them with of countries across regions, but has message to potential customers and web and social media content. DRG has to link customers, distributors, partners developing a line of innovation,” Park says. contributed to the business development partners with utmost clarity, conciseness extended its new communications and investors from across Europe, Asia- To benefit a wider range of customers, P&S is developing a goals of various successful companies. and polish,” says Angela Gaspar, DRG’s services to clients who participated in the Pacific, the Middle East and the Americas. inspecting equipment line of inspecting equipment for the cosmetics industry, and more The Hong Kong-based media and managing partner. “This advantage latest South Korea Report. “We give our clients a stronger voice for the cosmetics industry, products for price-sensitive emerging markets and small- and campaign production company – backed translates to higher sales and win-win The report showcases South Korea’s with our new editorial services,” medium-sized enterprises. by a best-in-class team of professionals business partnerships, and allows our strong market fundamentals and Gaspar says. and more products for It plans to open a hub in Thailand to bring its services closer to in research, analysis, reporting, clients to focus more on growing their diversified economy, including lucrative “We help them organise and Southeast Asia and the Middle East. It is also eyeing partnerships correspondence, production and writing – core businesses.” business opportunities. articulate their ideas and transform these price-sensitive emerging with companies experienced in image processing instruments, launched DRG Communications Services Combining local market knowledge The special report headlines the into clear, captivating messages to better markets and small- and semiconductors and packaging solutions. last year to provide a more and English-language expertise, DRG northern Asian country’s top-ranking and engage their intended audience.” “We are approaching bigger markets with innovative, medium-sized enterprises excellent-quality products that are more affordable,” Park says.

Park Won-jae, president S6 Friday, February 23, 2018 ¢ ¢ Sponsored section in cooperation SOUTH KOREA BUSINESS REPORT with Discovery Reports BSG PARTNERS LEADS CLIENTS INTO NEXT IT ERA

ith its full range of service responsible for introducing the brand’s and consulting services, BSG Partners clients such as first-layer vendors of capabilities, BSG Partners is most state-of-the-art technologies,” also has SAP competency for AWS, where Samsung and Hyundai moved to China helping businesses navigate Park says. “We are the best player in the it ranks 19th globally. and the United States, BSG Partners the radical trend in SAP area in South Korea.” Standing as a platform for SAP followed suit and set up branches in those information technology (IT). software, AWS enables BSG Partners to markets to break the language barrier and W Collaborating with IT giants such as offer a highly innovative way of close the time difference, which are critical SAP and Amazon Web Services (AWS), Starting out with implementing SAP solutions. In the area of for ensuring a high level of service quality. BSG Partners offers one-stop solutions only 10 employees SAP on AWS consulting service, BSG is To date, the company is present in all for all information-related business the only company in South Korea that is continents across the globe, with the requirements ranging from information from big consulting certified by AWS. exception of Africa, to provide 24/7 strategy planning through to system BSG also offers a broad range of its operations and customer service. implementation and system management firms, BSG Partners own packages that include G-HR, a human “We always think about our outsourcing service. has made a name resource management system, customers and never give up on providing “Customers are left with so many R3market.com, an e-commerce platform them with the highest level of satisfaction options, and our role is to lead for itself in for B2B purchasing, and C4:ERP possible,” Park says. “A complete focus companies, regardless of size, to the (www.c4mix.com), a cloud-based ERP on our customers is our pride as a next IT era by introducing them to providing SAP solution powered by SAP HANA premium service company, and is a key cutting-edge technologies,” says CEO solutions and AWS in-memory database technology. Such point of our survival in this market.” Park Cheol-wook. variety in technical competency To deliver on this commitment, Starting out with only 10 employees cloud computing differentiates BSG Partners from other BSG Partners welcomes sales partners from big consulting firms, BSG Partners players in South Korea. and vendors to serve South Korean has made a name for itself in providing The company was chosen as best SAP “We are the pioneer in providing SAP firms going overseas, local companies in SAP solutions and AWS cloud computing. partner in 2015 from among all SAP on AWS services in South Korea because other countries, or multinational The company’s SAP and AWS partners within Japan and Asia-Pacific. we have foreseen the coming of this businesses trying to adapt their IT systems management outsourcing services have BSG Partners is also the first and only local technology,” Park says. into South Korea. earned the trust of more than 100 company to receive SAP’s Partner Quality “As such, foreign companies looking “We want to expand into China and corporate clients, comprising more than Program accreditation for project for a partner in South Korea in this area will introduce to local companies what 10,000 system users from small- and methodology and the only local SAP do well to partner with us given our BSG Partners can do for them,” Park says. medium-sized enterprises and affiliates of partner to win twice the SAP Pinnacle credentials.” “We would like to build long-term conglomerates. Award, a recognition for excellence BSG Partners complements its relationships and realise with our “We cover the whole spectrum of SAP among all SAP partners worldwide. technological leadership with a passion to customers our vision of ‘One Growth- Park Cheol-wook, CEO products in South Korea, and are Besides offering SAP management provide excellent customer service. When One Future’.” SBI INVESTMENT KOREA ON TRACK SCHENKER BUOYS NORTHEAST TOWARDS BECOMING ASIA’S ASIAN HUB WITH INNOVATION

NO 1 VENTURE CAPITAL FIRM Centrally located in Northeast Asia with a well-developed network of airports and ports, South Korea is steadily closing the From being South Korea’s first venture “SBI Investment is more than a gap with advanced countries in logistics capital firm, SBI Investment Korea is on pioneer; it has contributed to the society as performance. Its strategic location in Asia, track to become Asia’s No 1 as it brings its an industry creator whose history parallels where throughput is expected to exceed pioneering spirit to the global stage. that of Korean venture capital and private those of the United States and Europe, The first South Korean venture capital equity funds,” says CEO and chairman places it securely among the world’s firm to list on Korean Securities Dealers Yoshimi Takahashi. upcoming major hubs. Automated Quotations, SBI Investment SBI Investment’s funds range from “Definitely, we are in an exciting has invested in more than 1,000 government-led research and market which we expect to grow with companies across South Korea, Japan development projects to digital content, solutions in place as a partner of choice in and Asia. More than three decades since it information technology convergence, and logistics,” says Dirk Lukat, CEO of introduced the concept of venture capital biotechnology and health-care-related Schenker Korea. “Our emphasis is not to South Korea when the term “venture” businesses. The firm’s strong track record only on today but we look out for the future was still fairly unheard of, the company is leveraged by the bigger SBI Group, by ensuring efficiency.” now offers more than 10 active funds whose synergistic benefits include a A leading player in South Korea’s locally and overseas. comprehensive network of commercial logistics industry over the past 40 years, banks, securities companies and venture Schenker has worked alongside SBI Group is capital firms across 20 countries. multinational and local companies to help “SBI Group is distinctively specialised grow the country’s competence as a distinctively in elevating the value of each company global gateway. we invest in until they pursue an initial The company’s extensive global specialised in public offering,” Takahashi says. “By network firmly established the supply elevating the value investment, we are not only talking about chains of electronics, pharmaceutical and Dirk Lukat, CEO money, but also our time, expertise and automotive industries. of each company human resources – as exemplified by As Schenker’s major clientele, these companies where our fund managers also industries became agile to changes in contract logistics and on the distribution stamping and tracking of serial numbers we invest in until serve as directors.” market trends and regulation, thanks in side, and to engage more in e-commerce and Korean language information on they pursue an Beyond South Korea and Japan, the Yoshimi Takahashi, CEO and chairman large part to a proactive and experienced as it becomes a vital part of business in the individual medical packs. firm eyes Singapore, mainland China, country team. foreseeable future,” Lukat says. “Our customer solutions ensure a initial public Hong Kong, India, Vietnam, Malaysia and As global trade ramps up in emerging Schenker closely collaborates with competitive and effective operational Indonesia, where its clients similarly see seeking to diversify their portfolio in international market, with our clients industries such as cosmetics, e-commerce customers to develop timely solutions. For set-up not only for us but also for our offering a promising future. It also looks forward South Korea. enjoying the opportunity to play a more and food, Schenker is once again at the instance, as pharmaceutical regulation customers to be able to distribute their Yoshimi Takahashi, to imparting its local know-how and “We are committed to helping significant role – like we do – in the global forefront with innovative solutions. evolved in 2015, the company customised goods within Korea in the most efficient CEO and chairman regulatory expertise to foreign investors venture businesses penetrate the arena,” Takahashi says. “Our vision is to grow our business in a software solution to simplify the manner,” Lukat says. HANHO INDUSTRIAL GOES GLOBAL IN CAR PARTS PRODUCTION WITH OVERSEAS PLANTS

In the automotive industry, A-class auto parts “What drives Hanho Industrial to success is business in China with local customers through its provide a tremendous boost to the overall quality our passionate team that always aims to achieve own plant in the country. With the presence of of vehicles. more,” says CEO David Kang. With the presence of its plants in South Korea its plants in South Little wonder Hanho Industrial continues to The company overtakes the competition by and China and its offices in the United States and receive approving nods from the likes of General manufacturing products with zero defects, and Germany, Hanho provides reliable services to its Korea and China and Motors, Hyundai and Kia. For nearly offering these products at relatively lower prices. customers around the world. Its dedicated sales 20 years, the South Korean vehicle parts By investing in innovative technology that saves support offers ease of communication and its offices in the United manufacturer has been serving the world with the costs, Hanho is able to rely on its smart factory in efficient assistance to its international clientele. States and Germany, best products, services and prices. Yeongchon, South Korea, that houses almost 90 Looking forward, Hanho is in a positive track Known in the industry for its expertise in per cent automated machines. amid favourable market forecasts in India, China Hanho provides forging and machining, Hanho is also Hanho further marks its strategic move by and countries in Southeast Asia. By 2021, sales internationally recognised for offering superior driving some of its production outside South demand in Southeast Asia will drive the reliable services to powertrain parts to original equipment Korea. It is seeking a joint venture with a Chinese production line to produce 5.9 million units, while its customers around manufacturers and tier 1 suppliers in Asia, Europe company to give better prices and quality to sales demand in China will drive 350 million to David Kang, CEO and North America. customers. Hanho is also planning to grow the 500 million units by 2023. the world SEYANG RAMPS UP HIGH-PERFORMANCE POLYMERS ACROSS REGION

Seyang Polymer is fast ramping up high-performance polymers our long history of close communication with customers. This across Asia, where it is the trusted solutions provider and original creates many opportunities for us to uncover their hidden needs equipment manufacturer among global companies. and provide customised solutions.” DuPont’s No 1 distributor in South Korea for more than 30 Seyang will be showcasing new products and solutions at years, Seyang has created its own niche in the performance the much-awaited Chinaplas 2018 in Shanghai this April. materials business with compounding expertise and super- Chinaplas is Asia’s No 1 and the world’s second-largest plastics engineering plastics that enable innovation in the fibres and films, and rubber trade fair. electronics and automotive industries. Key to this success is a total “The market for high-performance polymers is everywhere,” commitment to customer satisfaction. Yoon says. “We want to forge partnerships to capture new “Integrity is our core principle,” says Yoon Sung-eup, CEO of markets such as India, the United States and Europe.” Seyang, whose father founded the company in 1985. “People are our top priority, and I take pride in the company philosophy to focus on our employees. In doing business, I firmly believe that happy employees make happy customers.” Increasing demand for sophisticated raw materials is opening up new markets for Seyang across Southeast Asia. The company’s liquid crystal polymer is a strong candidate to support the deployment of speeds required for 5G wireless connectivity. Its reinforced polymers or electro-conductive polymers are likewise suited to carbon fibre applications in the semiconductor industry. Seyang has co-development projects with Samsung Electronics and Hyundai Motor on these high-performance polymers. “We expect a strong build-up of demand for super- engineering plastics in South Korea, China and Southeast Asia,” Yoon says. “Our core competency for the future and thus far, is Yoon Sung-eup, CEO Friday, February 23, 2018 S7 ¢ ¢ Sponsored section in cooperation SOUTH KOREA BUSINESS REPORT with Discovery Reports MELATONE CAPTURES ASIA’S EYE AND FEEL FOR INNOVATIVE, TEXTURED HIGH-PRESSURE LAMINATES

s versatile as they are durable, markets, including Malaysia, Singapore, high-pressure laminates (HPL) Indonesia, Vietnam and Cambodia. are increasingly becoming the Reinforcing its commitment to the region, material of choice for wall it opened a factory in Malaysia’s Johor panels, flooring, furniture and Bahru last year, knowing that the strategic Aother surfaces across diverse applications location bordering Singapore can help – from home kitchens to hotels, ships, reach a wider clientele. WK Choi, CEO laboratories and health care facilities. Rapid growth in new residential and commercial offices, especially in Melatone’s flourishing markets such as Asia, means that the opportunities for products are BISTEL TRANSFORMS HPL manufacturers are endless – and resistant to fire, so is competition. Standing out means offering truly bacteria, MANUFACTURING distinctive breakthroughs: a feat that Incheon-based Melatone continues to chemicals, pursue despite more than 40 years of abrasion and INTELLIGENCE INTO SMART experience, producing in excess of 20,000 sheets per day and carving a name impact, and are in six continents. Melatone’s products are resistant to guaranteed by DECISIONS, QUICKER ROIS fire, bacteria, chemicals, abrasion and GreenGuard impact, and are guaranteed by Even the biggest manufacturers can only Things, BISTel goes further by delivering production yield and improving GreenGuard certification to emit certification to be as efficient as their slowest factory. vertical application for Industrial product quality. extremely low toxic chemicals. These Industry leaders who endure in the fast- Intelligence of Things, where operation Another is the eDataLyzer advanced make them one of the most emit extremely low paced, ever-evolving and increasingly and business data translate into intelligent analytic platform, which seamlessly environmentally friendly, sustainable and toxic chemicals competitive environment of information. gathers data from multiple sources – cost-effective materials that complement manufacturing modernisation know that “The next industry drivers will be including big data – and organises it into the widest range of colours, designs and intelligence is the key; those who strive to AI and big data, through which a unified structure for analysis to provide textures any engineer, architect or “Asia is an extremely important do better have come to rely on BISTel. manufacturers can predict the quality of a deep insight into everyday problems in decorator can conceive. market not only for the quantity in terms of Since its launch in 2000, BISTel has product even before it goes into manufacturing. “The key is a close eye on the latest JY Sung, CEO the population size, but also because of helped catapult South Korea as a top production,” Choi says. “After these, BISTel plans to deploy these solutions global trends and a finger on the pulse of the quality of the market,” Sung says. smart manufacturing hub across we aim to launch a prescriptive system to more industries, including electronics local markets,” says Melatone CEO “The region has the most diverse taste, industries. Today, the Seoul- that will supplement our prediction assembly, automotive, energy, steel JY Sung. “Every country has a different anti-static, mould-resistant, water- innovations that showcase the best the feel and culture. We want to capture these headquartered company has risen among capability with embedded human manufacturing, and oil and gas – and has taste. Having a big brand in one country repellent, low-light reflection and semi- industry can offer.” and reflect such diversity in our portfolio.” the top 10 manufacturing intelligence knowledge and autonomous control, conducted successful pilot cases with does not guarantee success in another antibacterial properties. These make Another bestseller is the Dong-Jo With the region becoming the largest solution providers – and leads the race which will help engineers get to action selected clients. market. Our localised approach has made Clean Touch laminates particularly series, also dubbed by Melatone as its HPL market representing 50 to 60 per cent towards Industry 4.0. before a problem occurs.” Encouraged by promising results, Melatone’s products resonate beyond suitable for use in kitchens as well as “masterpiece of wood perfection”. of the total global demand, Melatone is “We understand how extremely Such an extraordinary vision BISTel aims to further expand its reach South Korea and even Asia.” hospitality, food and beverage, It features an embossed texture optimistic that the growth will also bring valuable time is for every engineer, that’s combined with flexibility and close client overseas, particularly eyeing mainland Targeting niche markets with fancy, pharmaceutical, health care and other synchronised with the flow of the grains – more technological breakthroughs that why we design solutions they can use to relationships enables BISTel to develop China, Singapore, Taiwan, Thailand elaborate and exceptional designs, industries that require hygienic surfaces. making it look and feel like real wood. will address the needs of the future. make the smartest decisions in the ideal solutions to meet customer needs – and Malaysia. Melatone takes pride in being one of the “What distinguishes the surface of Among other latest products is the Urban “People see Melatone as creative and quickest way possible,” says CEO thanks to a team of 120 research and “Smart manufacturing will grow most sought-after HPL suppliers in high- Clean Touch is its electron beam coating, Rustic series, which boasts an authentic innovative, but the truth is we always WK Choi. “Such efficiency allows development engineers and partner biggest in Asia in the next five years,” end markets such as luxury resorts and in which one of our German partners raw feel that blends well with want to keep learning about new manufacturers to achieve their return on universities. Choi says. “We look forward to working hotels in Las Vegas in the United States. specialise,” Sung says. “Strategic contemporary urban designs. technologies and creating new surface investments in months instead of years.” Among BISTel’s bestsellers are with partners with strong domain Among Melatone’s breakthroughs is collaborations such as this – combined Since opening its first overseas materials,” Sung says. “We look forward While many companies are equipment engineering solutions (EES) experience and strong regional and its Clean Touch series, a surface that with our research and development, branch in Bangkok in 2015, Melatone has to working with more similarly open- increasingly adopting artificial intelligence that collect and analyse process and national presence – and becoming the leaves no traces. It features anti- timing and speed – enable us to bring recognised Thailand as well as its minded, innovative and forward- (AI) solutions that deliver horizontal equipment data in real time – avoiding region’s No 1 solutions provider in smart fingerprint, thermal self-healing, together the finest ideas and produce neighbouring countries as key growth thinking partners.” application for Industrial Internet of unexpected downtime while maximising manufacturing.” DIABELL CONTINUES TO REVOLUTIONISE MOBILE PHONES THROUGH INNOVATIVE COMPONENTS

While advances in mobile phones and expands its limits from developing and home appliances continue to wow the manufacturing electronic parts for world, Diabell has been creating the mobile and home appliance companies. high-quality, but seldom talked about The company is launching a new parts that make up the hi-tech whole. business for the aviation industry and has The world-renowned South Korean been in the exploratory phase for the past company has for the past 24 years been eight years. developing, manufacturing and Remaining steadfast as it grows, marketing components, serving big Diabell is open to collaborating with brands such as LG, Sony, Motorola, partners that follow the same philosophy Lenovo, HTC and Oppo. when it comes to innovation. “We Priding itself in introducing hinge invent products, and we invent them in parts and in-model labelling to the world, collaboration with other players,” Diabell offers folder, slide, swing hinge, Kim says. “We want to meet these kinds of rotation, special hinges, secondary battery people who, like us, challenge themselves or metal fibre, voice recognition, noise and those who are specialised in removal, wireless touch keyboard unit, marketing persistently.” connectors, inlets, and phone accessories. Kim Sam-jong, CEO Developing with change, innovation “We continuously challenge and a bold challenging spirit, Diabell has ourselves because we believe that in order offices in the Philippines and China. Its to lead we have to invent the products that focus on investing 30 per cent of our total office in Vietnam is soon to open, while the are not yet in the market,” says CEO sales in research and development.” offices in Japan and the United States Kim Sam-jong. “So to remain in our True to its philosophy of innovation focus on building its business with position as pioneer in this industry, we and customer-centred service, Diabell aviation companies. RE-NEW ROUTS AGE-OLD WATER LEAKAGE PROBLEM

Runaway costs associated with water to replace new waterproofing,” Lee says. leakage in concrete infrastructure have “They only need to inject Turbo Seal, long burdened governments and which is the permanent water leakage engineers. When the age-old problem repair solution.” crops up in expressways and subways, Turbo Seal was used in the second repercussions are even worse as the and third stages of construction of the safety and health of people are Incheon International Airport. The endangered. product was the only waterproofing Determined to put an end to this system used for the design and hazard, Re-New System has developed a construction of the extension section of technology that would clinch 100 per cent the Bay Area Rapid Transit subway in waterproofing in concrete structures. It San Francisco, California. commercialised Turbo Seal, the world’s Turbo-Sheet GTR has been applied in first total waterproofing solution that was the construction of the Marina Coastal cited as among South Korea’s 10 Best Expressway in Singapore. Re-New has New Technologies of 2013. also used Turbo Seal to solve water Re-New’s award-winning technology Lee Jong-yong, president leakage issues in the island state’s Mass combines recycled rubber, asphalt and Rapid Transit. inorganic compounds to produce With infrastructure development in waterproofing materials that are super concrete surfaces even if they are humid, full swing across Asia, Re-New welcomes flexible with self-healing and high- underwater or obstructed by foreign partnerships that would propagate its cohesiveness properties. substances. Turbo Seal can be applied groundbreaking technology in mainland “Waterproofing materials should not in all weather conditions even at China, Singapore, Indonesia, Vietnam and be hardened, and if it is damaged, it must temperatures of around minus 40 degrees Hong Kong. be self-healing,” says Lee Jong-yong, Celsius to 80 degrees Celsius. “Our products are the best solutions president. “Infrastructure managers and for water leakage problems. We offer a Turbo Seal is a single-component operators do not have to remove better product and a lower price,” eco-friendly material that can adhere to damaged waterproofing or evacuate soil Lee says. S8 Friday, February 23, 2018 ¢ ¢ Sponsored section in cooperation SOUTH KOREA BUSINESS REPORT with Discovery Reports DREAM MEDICAL BMK AIDS GROUP ENHANCES MINIMALLY ANTI-AGEING AND INVASIVE AESTHETIC TREATMENT SURGERIES WITH IN REGION The promotion of women’s health and Providing a high- ADVANCED wellness in general is fast becoming the primary push of top aesthetic facilities quality bespoke worldwide. Plastic surgery clinics have been transitioning from traditional approach to SPINAL DEVICES treatments towards full-body health plastic surgery, the therapies such as vitamin replacement, medically controlled weight loss, anti- clinic highlights avigating a patient’s anatomy in error-free The Endocare system features a camera lens with ageing treatments, hair restoration, or more stable ways has driven light specifications. With BMK’s state-of-the-art spinal hormone replacement and even genital patients’ long-term advancements in the medical device endoscope, surgeons can diagnose fractures and rejuvenation. well-being and industry of late. The global medical spinal diseases more accurately. The technology has “The current trend in the aesthetic community is championing procedures passed initial approvals in Asia, and will soon be ready surgery sector has moved to more refrains from Nthat are less invasive and offer reduced post- for commercialisation in India, China and Europe. diversified areas, but with a specialised operational pain and recovery time. “The know-how for Endocare system came from Patterson Ryu, president approach. That’s why we have gathered recommending These minimally invasive operations require us,” says Patterson Ryu, president of BMK. “We make physicians who have the most expertise in unnecessary unconventional equipment and technology. our own products without any help from other their respective specialisations,” says Consequently, today’s cutting-edge medical tools companies. We are known for our spinal technology, The Guardian line of spinal fracture system is collaborations with leaders in the medical industry. Dr Park Yang-soo, CEO of Dream Plastic operations undergo strict approval methods from international and we have been successful in getting the designed to easily access fractured vertebrae. With offices in Qingdao and Bangalore supporting Surgery, a premium powerhouse of regulatory and certification bodies. certifications for our devices.” Featuring the smaller diameter 10-gauge working its research efforts, it welcomes progressive beauty tailoring popular among talent-oriented culture, conscientious Seeking approvals is a painstaking process, but The next step for the company will be to get cannula, the Guardian-SG system offers fast pain surgeons and funders who have the knowledge and celebrities from South Korea, China and medical care and constant pursuit of South Korea’s leading medical device manufacturer approvals from other areas, such as the Conformité relief and recovery. It provides safe delivery of bone enthusiasm to work with BMK through product other countries. excellence, Dream Medical Group is BM Korea (BMK) is undisturbed. As the only foreign Européene or CE Marking in Europe, the United States cement for indications such as vertebral compression development and technology usage to expand and Providing a high-quality bespoke expanding its operations in Asia company that has gained the most approvals in China Food and Drug Administration and the China Food fracture, osteoporosis and metastatic bone tumour. share the company’s vision. approach to plastic surgery, the clinic supported by the right combination of for its spinal surgical instruments, BMK is keen on and Drug Administration, to make the systems BMK will also be launching high-viscosity bone In addition, BMK is eager to connect with like- highlights patients’ long-term well-being innovative products, clinical research and elevating patient care and supporting minimally available to a wider market. cement products to minimise spinal cord impairment minded professionals who share the company’s and refrains from recommending cutting-edge facilities. invasive surgery by sharing its expertise in Asia and BMK’s own brands of pedicle fixation systems in Asian and US markets. values and understand its purpose of making an unnecessary operations. “We would like to build a stronger the rest of the world. and medical devices for spinal fractures and “Galaxy and Guardian will be the trends in the impact on society. As Seoul’s leading aesthetic medicine presence in China,” Park says. “We are Developing its own technology, BMK has degenerative diseases are renowned in South Korea, future,” Ryu says. “These are next-generation “Our company’s purpose revolves around three hospital operator, Dream Medical Group doing that while building a better achieved groundbreaking strides in the areas of Asia and the US. The Galaxy MIS screw system for products. Once surgeons are equipped with the things: dream, passion and creativity,” Ryu says. is positioned to capture the market in anti- relationship among other markets.” endoscopy, neurosurgery and orthopaedic surgery. minimally invasive spine screw fixation is designed to expertise and experience to use these devices, the “We made these remarkable products primarily to ageing treatment, which Park expects Thanks to its latest breakthrough, the Endocare line, curtail soft tissue trauma leading to shortened market can benefit greatly from these specialised help ease the pain of people, especially those who to be a key future trend. surgeons can now expand the view of a treatment operating time, less blood loss and post-operative technologies.” cannot pay. Together with our research staff, we The group plans to increase area that is usually difficult to see when applying pain for patients. Galaxy solutions are also authorised Serving surgeons and patients beyond South painstakingly developed all our products, so every its anti-ageing arm and offer its minimally invasive surgery. to be used in the global market. Korea, BMK seeks local partnerships and item we make here is like our child.” expertise in plastic surgery to Chinese patients. It also specialises in other in-demand surgeries including eyelid surgery, rhinoplasty, face Dr Park Yang-soo, contouring, breast surgery and CEO of Dream FINETEX WEAVES SUCCESS STORY body contouring. Plastic Surgery Dream Medical Group is a total medical and aesthetic network consisting of Dream WITH NEXT-GENERATION NANOFIBRE Esthetic Clinic, Dream Dental Clinic, the When something minuscule makes a gargantuan For this reason, we focus on helping the nanofibre cosmeceutical impact, the world sits up and takes notice. market in China.” brand dr. dream, South Korean company Finetex EnE took Finetex sees immense potential in nanofibres. and Dream centre-stage when it mastered the electrospinning With existing factories in South Korea, Canada and the Plastic Surgery. technology allowing it to adapt the revolutionary Philippines, and the addition of new factories in China The group nanofibre for cutting-edge applications across many and in Europe, Finetex has more than enough mass was established industries. production capability to serve many markets. in 1999 with a Aiming to improve quality of life with its Moving beyond industrial filtration applications, handful of plastic nanofibres, Finetex tackles the crucial global Finetex nanofibre and nanofibre membrane are also surgeons who environmental issue of pollution. With its ultrafine used for technical textiles, medical textiles, military later ventured into fibre technology that can be used in air and liquid gear and consumable products such as face masks China, Australia, filtration, Finetex helps combat growing pollution and cosmetics. With the Nexture brand, nanofibre the United States problems brought about by industrialisation. membranes are lightweight, air permeable, four-way and Singapore. “In a study conducted comparing Finetex stretchable, flexible and waterproof. It has been used Amid the solutions with what currently exists in the market, our by leading global brands. increasing popularity products make a bigger difference in reducing dust Finetex continues to improve its nanofibre and of aesthetic surgery, emission levels with lower operating costs. nanofibre membrane products, and is also exploring the company Conventional filters in a dust-emitting plant emit new applications for them, among which is a promises to provide 158.9kg of particulate matter per year as compared specialised coating for foldable organic light-emitting the kind of quality with Finetex’s nanofibre filters, which emit the diode displays in electronic devices. results that South equivalent of 65.6kg per year,” says Dr Park Jong-chul, “As we grow our business, we aim to continue to Korea has been known CEO. “Based on these results, Finetex is attracting protect human beings by making air and water clean for globally. Dr Park Jong-chul, CEO attention, particularly from the Chinese government. and safer,” Park says. Demonstrating a EYEGENE COMBATS AGE-RELATED DISEASES THROUGH BREAKTHROUGH DRUGS AND VACCINES

Ageing is inevitable, and so are the aches that come with speciality pharmaceutical players focused on with age-related diseases. Thus, biotechnology and wound healing and pressure ulcer therapies. pharmaceutical firms are on a constant quest for cures The company also invites regional vaccine and functional genomics that combat ageing and manufacturers to further develop and commercialise Choi In-sung, CEO discover the mysteries behind the development of the its extremely cost-competitive cervical cancer vaccine. human race. EG-HPV is the world’s third successfully developed In South Korea, a tenacious and relevant human papillomavirus (HPV) vaccine, catering to biopharmaceutical company has been developing patients within Asia’s emerging markets. innovative therapeutic concepts for the past 17 years. Eyegene is also developing two proprietary DCSENG MAKING By 2022, Eyegene aims to unravel breakthrough immune adjuvants that have been the basis for its medications for diabetic retinopathy, pressure ulcers, EGVac system. When applied, EGVac can enhance the cervical cancer and other age-related diseases. efficacy of vaccines for different diseases, and has WAVES GLOBALLY “We create first-in-class drugs and vaccines that shown exceptional efficacy when combined with fight ageing and enhance lives,” says Yoo Won-il, HPV, herpes zoster, influenza, hepatitis B and CEO. “Our transparency has earned people’s trust, anthrax vaccines. AS PIPE-CUTTING and we continue to invite private and institutional “We continue to focus on technology transfer investors to support our research.” and unravel hidden opportunities as our products Apart from working with academia, research undergo second-phase clinical trials,” Yoo says. MACHINE SPECIALIST institutions and hospitals, Eyegene seeks “We exist to improve the quality of life, not just the collaborations in the region to expeditiously deliver its terminal cases.” four main products. It pursues multinational and In various applications from drinking water systems to Products that have become flagship models for regional corporations to distribute EG-Mirotin. The business areas such as food and beverage, the market are the pipe-cutting machine and the dual drug prevents the progression of diabetic retinopathy bioscience, information technology and oil and gas, it pipe-cutting full automatic machine. The pipe-cutting in patients and helps reduce leakage while increasing is important to cut and bevel pipes in building and machine can cut and bevel with an external diameter patient convenience. For EG-Decorin, a therapeutic installing essential pipelines. DCSENG is Asia’s measuring from 16 to 510mm regardless of ointment that eases the treatment of pressure ulcers champion in producing powerful and dynamic cutting materials, while the dual pipe-cutting full automatic caused by ischemia, Eyegene welcomes cooperation and bevelling equipment to efficiently and safely machine has the ability to cut the thickest pipes in transport liquid, gas or energy resources. the world. For the first time as a latecomer in Asia, Having the highest level of technology among DCSENG has been recognised for its quality and pipe-cutting machines, DCSENG has sustained its Apart from working with ability to compete with advanced European products. success through relentless innovation, adaptability academia, research The company has produced and supplied a and a customer-oriented approach. DCSENG has comprehensive selection of pipeline-cutting tools developed close relationships with several major institutions and that can be customised to suit all clients’ needs, no technology companies, including Samsung, Hyundai matter the length, weight, thickness, size or material and other firms in the shipbuilding, aviation, oil, gas, hospitals, Eyegene of the pipe. petroleum and semiconductor industries. seeks collaborations in “We have been the leading company in South DCSENG, whose first three letters stand for Korea, and now we are No. 1 as well in the world “dream”, “challenge” and “success”, seeks to forge the region to market,” says CEO Choi In-sung. “Our edge is that partnerships with companies that possess strong expeditiously deliver its we consider our customers’ opinions and we find engineering and service capacities, with a vision to what they need and how they can use our products raising pipe-cutting technology and expanding the four main products Yoo Won-il, CEO more efficiently.” market to the highest level. Friday, February 23, 2018 S9 ¢ ¢ Sponsored section in cooperation SOUTH KOREA BUSINESS REPORT with Discovery Reports EXIMBAY’S CRYPTOCURRENCY A STEP FORWARD IN CUTTING- EDGE PAYMENT SERVICES

mni-channel shopping is the Asian market – where it has customers that each country uses our services to tourism and travel market, in line with the latest trend in 21st century in South Korea, China, Japan and meet the demands of global customers.” launch of EBCoin, and is already a reliable consumption. Digital, wireless, Southeast Asia. With its sights set on an initial public partner in global travel solutions trusted cloud and mobile technologies Asia-Pacific – the world’s largest retail offering this year, Eximbay aims to expand by airlines such as Korean Air and Jeju Air. are fuelling the rise of online e-commerce market with sales expected further into Hong Kong, mainland China “Our success stems from Oretail and electronic commerce (e- to reach US$2.75 trillion by 2020 – is a and Southeast Asia through partnerships persistence,” Kim says. “When we commerce) – dramatically impacting the highly untapped and particularly and joint ventures with local banks and started, the market for cross-border way the world does business. promising market for alternative payment local payment providers. payment services was very limited. As consumers shift between different solutions. It is especially interested in the global “But three to four years ago, it grew shopping channels – such as retail stores “We specialise in integrated, very fast because of the boom in at malls, smartphones, laptops and trendy packaged, overseas, one-stop cross- information technology and e-commerce. The SI Flex headquarters in Ansan, South Korea pop-up stores – businesses have to deal border transaction payment services, and We earned more than US$9.2 million in with the stresses of investing in and are a one-of-a-kind company in South 2016 and expect our earnings to have managing multiple payment platforms. Korea and in Asia to be able to provide doubled in 2017.” Eximbay, South Korea’s No 1 overseas these kinds of services for foreign payment services provider, offers a markets,” Kim says. TECH EDGE AND ASIAN seamless and integrated global cross- Apart from its global credit card border payment platform for online and payment services supporting major offline merchants covering almost all financial services groups such as Visa, NETWORK BOOST SI FLEX’S transaction services. MasterCard, American Express, JCB and UnionPay, Eximbay’s comprehensive Eximbay is known payment solutions include website and LEAD IN FLEXIBLE mobile payments; an online-to-offline Jason Kim, CEO as a payment messenger payment service using quick and transaction response bar codes; and an email billing PRINTED CIRCUIT BOARDS payment solution that enables merchants company, but we to send invoices with embedded payment links to customers via email. From smartphones, digital cameras and with an expanded Asian network that is layers – an industry advantage now have the tool The company’s dynamic televisions to video game consoles, comprised of three factories in China and considering China’s high untapped currency conversion service also microwaves, refrigerators and coffee one in Vietnam. demand for multilayered FPCBs. to become a big allows online foreign buyers to makers, printed circuit boards (PCBs) lie at “We are a company that’s growing “Our strong engineering expertise player in financial view the price of an item in their the heart of modern consumer electronics. very fast along with our customers such as drives our success and our technology is real-time home currency As the undisputed leader in flexible Samsung, so we are also expanding to No 1 in the country,” Won says. services before paying with their PCB (FPCB) design, manufacturing and more global markets,” says Won Dong-il, “All our processes are done in-house, credit cards. The marketing in South Korea, SI Flex is at the president and CEO. which differentiates us from other players Founded in Singapore in 2006 and company’s forefront of an industry poised to grow “One of our strengths is our ability and gives us control over quality and price. headquartered in South Korea, the multicurrency 10 per cent year-on-year globally and to strategically foresee market trends Once clients give us their dynamic company proves its ability to acquiring service, reach US$27 billion by 2022 and customer needs. We are all young specifications, we produce the whole keep in step with changing times. meanwhile, allows At the helm of the FPCB industry people, so decision-making is fast and we product from start to finish.” Aiming to bridge the gap between merchants to settle demand is Asia-Pacific – the largest are quick to respond. Our clients With an eye on the future, SI Flex is cashless spending and cross-border foreign payments in consumer electronics market globally. appreciate that.” also exploring the automotive and transactions, Eximbay has begun to their home country’s With an independent manufacturing Apart from its FPCBs and printed wearable technology sectors as it diversify its portfolio of payment solutions currencies. system, automated facilities and board assembly modules with various continuously strives to create future value with a new cryptocurrency, specifically Combined with unsurpassable technological expertise, applications, SI Flex also offers a portfolio for customers. targeting travellers and tourists, slated for its risk management SI Flex holds the keys to unlocking the of electronic components and products “Customers look for us because of our release in April this year. solutions for overseas region’s FPCB revenue potential. such as virtual reality devices, smart technologies,” Won says. “We’re “Eximbay is known as a payment and online transactions A pioneer behind FPCB production in bands, drones, light-emitting diodes, targeting to hit 1 trillion South Korean won transaction company, but we now have such as 2D- and 3D- South Korea since 1988 and the first liquid crystal display modules and hand- (HK$6.97 billion) in sales by 2020. the tool to become a big player in financial secure features, Eximbay industry player to enter China in 1997, held projectors. “But our ultimate goal is to be No 1 in services,” says Jason Kim, CEO. guarantees a secure global SI Flex aims to become the world’s leading The company is also one of the few FPCB production worldwide,” Won says “EBCoin is a game-changing payment environment for FPCB total solutions provider – beginning globally to manufacture FPCBs with eight with confidence. cryptocurrency that eliminates travel- buyers and merchants. related obstacles, enabling users to travel “We provide easy payment without cash.” solutions while reducing risk, and are The strategic move is part of the here to ease our customers’ transaction company’s initiatives to expand its scope worries,” Kim says. “We are here to INNOVATIVE MINDSET KEEPS of expertise and further penetrate the meet every client’s needs and make sure APPAREL BRAND MANAGEMENT FIRM SEJUNG IN VOGUE

From 3D-printed dresses, solar panel demographic with contemporary brands jackets, Google-conductive fibres and for the next generation. biometric smart shirts to electronic Inspired by street fashion, NII offers commerce and online retail, technology is sporty, elegant and casual designs for the revolutionising fashion and apparel – youth market. CHRIS.CHRISTY specialises forcing industry players to innovate or risk in a stylish mix of casual wear with formal becoming passé in an increasingly digital elegance for young adults in their 20s and age. 30s, while DIDIER DUBOT is a jewellery For Sejung, keeping up with game- brand embodying the concept of French changing trends is the rule rather than the sensuality for women. exception – a habit that has secured its Proving its pioneering role as an long-standing tenure in the Korean industry trailblazer, Sejung also launched apparel industry. In 1974, what started as a South Korea’s first online styling service T-shirt manufacturing company selling two years ago called Your Stylist, which men’s shirts along road shops under the has been gaining momentum and well-known brand INDIAN has since attracting international interest from evolved into a multimillion-dollar brand countries such as China. management group with a variety of “Globalisation is another of our key home-grown labels – driven by a strategies, so getting our brands out into commitment to adapt itself to rapidly the global market with digitalisation as a changing consumer demands and market Park Yi-ra, CEO tool to make that happen is important,” trends. Park says. “Going international is “Sejung is seen as a traditional obviously the stepping stone for the next company, but we’ve taken steps to society and the love and loyalty our generation and where we want to take the digitalise,” says Park Yi-ra, CEO. “One of customers have for our brands.” company.” our strategies right now is to go online and Apart from carrying iconic Korean As part of its globalisation strategy, try to see what we can do with the existing apparel brands such as INDIAN and Olivia Sejung welcomes key strategic partners in infrastructure and the business offline Lauren – focusing on sophisticated and Southeast Asia, who can help amplify the using an omni-channel approach to high-quality clothing for male and female company’s brands within local markets transform and utilise the entire enterprise. adults respectively – Sejung has set its and collaborate on interesting new It’s a fine line balancing the changes in sights on a wider and more international projects. REVOLUTIONISING EDUCATION, OMAX CHAMPIONS SMART ACADEMIC EQUIPMENT

Great visions are often hatched in schools. Amid a backdrop of education Particularly, it eyes innovative start-up Kim Sung-won, formerly a teacher, digitisation worldwide, the company companies as potential key partners. wanted to improve teaching methods and primes itself as the solutions partner of “Changes are happening fast in saw technology as a way to revolutionise choice. schools,” Kim says. “OMAX will be there education. Thus he expanded Amjeon, In Korea alone, there are about to influence the future of education.” which his father founded in 1970, renamed 250,000 schools, and thanks to a contract it and made OMAX renowned as South with the government, OMAX can supply Korea’s leading manufacturer of smart to all these schools. The same contract academic equipment. enables it to act as a bridge connecting OMAX offers microscopes, digital foreign companies with the South Korean podiums, visual presenters, 86-inch government. interactive displays, safety cabinets, Collaboration, long-term relationship medical devices and other instruments and trust are highly valued at OMAX. The comprising about 120 product lines. Its company enjoys the cooperation and products feature cutting-edge innovation, confidence of the ministry of education, high quality and reliability and are tailor-fit education agencies, teachers and for schools, but have commercial students. Its reliability is boosted by its applications as well. A new generation partnerships with overseas visual presenter launched this month subcontractors in product marketing and further expands the portfolio and even development. boasts artificial intelligence technology. With partners in Japan and Hong “I totally understand the education Kong, OMAX welcomes new overseas sector and its challenges,” says Kim, partners especially in Asia as it looks to president and CEO of OMAX. “People expand in the region within five years. think it’s a small industry, but everybody needs education.” Kim Sung-won, president and CEO S10 Friday, February 23, 2018 ¢ ¢ Sponsored section in cooperation SOUTH KOREA BUSINESS REPORT with Discovery Reports GIGALANE’S DOMINANCE IN SEMICONDUCTOR AND RF INDUSTRIES HIGHLIGHTS TECHNOLOGICAL EXCELLENCE

isted on the Korean Securities In 2006, it acquired Maxis, a company with per cent of sales from China, the largest South Korea’s No 2 semiconductor Dealers Automated Quotations, semiconductor etching technology, and LED manufacturing nation. Moreover, equipment trading company last GigaLane is a US$100 million entered the semiconductor equipment GigaLane did not stop with the success of November to broaden its presence in the South Korean company running market. GigaLane successfully launched a the LED etcher. It launched nano- semiconductor equipment market. three businesses – semiconductor series of products, such as through- imprinters for LED, and plans to maximise The semiconductor equipment Lequipment manufacturing, silicon-via (TSV) and LED etchers, and outcome creation in the LED equipment trading market is booming with facility semiconductor equipment trading and nano-imprinters, being the first to market market. investment expansion due to the fast- high-frequency radio frequency (RF) among South Korean companies thanks The nano-imprinter is a piece of growing demand for semiconductors. The connectivity products manufacturing. to its corporate spirit of challenging equipment that substitutes the existing East Asian market, especially China, is GigaLane has a 60 per cent share in technology. It is now a powerhouse in the patterning process using a photo rapidly growing with the government the global light-emitting-diode (LED) global LED etcher market, with a 60 per lithography method. It has outstanding heavily subsidising facility investments. etcher market, making it the world’s No 1, cent market share. productivity – three times greater than the The market size is expected to reach nearly and is the only company in South Korea The company faced lagging sales due conventional process. US$1 billion in 2020. able to manufacture RF cables and to slow growth in smartphones, which This advantage will be noticeable, in With regards to the company’s connectors exceeding 6GHz, which will was the main market from 2015 to 2016, particular, in the 6-inch (15.2-centimetre) semiconductor equipment trading be used as the main frequency and delays in proceeding with new wafer production process, to be business, GigaLane has the distinct CEO Jang Il-jun, who joined GigaLane last year, focused the firm on two core businesses and revived its profits. bandwidth in the fifth-generation wireless projects, such as micro electromechanical introduced in the industry this year, which advantage of providing a turnkey service, systems (5G) telecommunications. It is systems. will reduce processing costs per wafer by which covers all of the processes ideally positioned to ride the current But after new CEO Jang Il-jun joined 40 per cent. necessary in building a customised connectivity technology in South Korea, frequency RF technology, RF cable and production, and 5G telecommunication wave of huge demand for the company last April, the seven GigaLane’s semiconductor fabrication facility. GigaLane provides core RF connectivity antenna inside the devices face structural infrastructure roll-out. These trends are semiconductors and LEDs, and the 5G businesses were streamlined into two equipment manufacturing business also Kim recalls one customer in China components and solutions for fast- limitations in performance. expected to become reality in the next telecommunication infrastructure main businesses – RF and semiconductor produces TSV etchers for who wanted to set up a facility for making evolving wireless communication and To overcome these limitations, couple of years and disrupt their upgrade set to start this year. etchers – and GigaLane focused on semiconductors. TSV is a 3D integrated gyro sensors. With support from its network infrastructure utilising its high- GigaLane provides flexible RF respective industries. GigaLane’s customers include South increasing profitability. As a result, circuit (3D IC) core technology that seasoned engineers, GigaLane was able frequency RF technology. connectivity (FRC), which is the next- Most importantly, the direction of Korea’s premier companies, such as GigaLane returned to profitability last year exponentially enhances semiconductor to configure the necessary equipment, GigaLane has been steering 4G generation RF solution using flexible GigaLane’s business is aligned precisely Samsung Electronics, and more than 200 with record high sales. chip performance by 3D-stacking chips. It design the fabrication lines, identify telecommunication technology printed circuit boards. GigaLane is one of with these trends, and its technology and foreign companies including “This turnover is not just a one-time has been developing TSV etchers for more equipment suppliers, ship the different expansion for the past decade with the only two companies in the world with product capabilities have proved that the GLOBALFOUNDRIES, NXP success,” Jang says. “It refers to a long- than a decade, and commercialisation has pieces of machinery to China and install world’s largest mobile partners. Once FRC technology patents, and company will beat its global competitors Semiconductors, Boeing and Nokia. term and structural business model been possible through continuous testing them. The company is one of the few again, in the forthcoming decade, GigaLane’s FRC solution is expected to be and benefit fully from the new As a global company, GigaLane change. We will put our utmost efforts on with global integrated device outfits worldwide that can deliver all these GigaLane will ride the wave of global 5G 5G mobile devices’ core RF connectivity opportunities. secures more than two-thirds of its sales growth in 2018 as a stable and sustainable manufacturers. services under one roof. RF connectivity investments estimated to component. GigaLane’s key competitive edge is in from its exports. To expand on this profit model is secured.” “TSV is a highly promising GigaLane’s other strength is its own total US$10 billion in 2020. In network infrastructure, GigaLane developing products requested by success, GigaLane focuses heavily on technology,” Kim Hyun-je, head of solid sales pipeline. Already working with Compared with the 4G era, 5G partners with leading global companies to customers at the fastest speed and research and development (R&D), Semiconductor equipment GigaLane’s strategic planning office, says. numerous prominent global requires many changes. From mobile develop key 5G RF connectivity solutions, providing customers with the highest allocating 20 per cent of its total revenues manufacturing business “The entire semiconductor industry has semiconductor companies, including device components to network including board-to-board connectors, value for money. evenly between capital expenditures and been debating since 2010 about the right GLOBALFOUNDRIES and NXP infrastructure and design, all should be antenna modules and low-loss cable By developing products and R&D. The result has led to close to 300 GigaLane’s semiconductor equipment time to adopt this revolutionary Semiconductors, it is discussing order changed to using high frequencies solutions. It is expected to benefit providing services that are customised for patents and more than 200 world-leading manufacturing business already has taken technology. We now see that the TSV era amounts for this year with major exceeding 10GHz. GigaLane is the only handsomely as a provider of total RF its customers, GigaLane aims to secure products under development. a leading role in the market. Its LED etcher is finally coming, and we are ready.” semiconductor players around the world. company in South Korea that can provide connectivity solutions for 5G handsets and global companies as customers in claimed the No 1 position in 2012, GigaLane’s semiconductor “GigaLane’s semiconductor this high-frequency RF connectivity 5G infrastructure products. competition with large businesses, which History capturing 60 per cent of the global market equipment manufacturing business will equipment trading business is forecast to solution. cannot rival it for flexibility and speed. and securing a majority of LED companies intensify its share in the growing LED enter full-fledged growth in 2018 with the “Because we started our business Vision for next three years The market where this GigaLane was established with high- as its customers, including Sanan etcher market and, at the same time, thriving market and a differentiated from 40GHz, it is easy for us to provide our competitiveness will be demonstrated frequency bandwidth RF connectivity Optoelectronics, Osram, and Seoul maximise growth potential by business model,” Jang says. “Our goal is clients with the solutions they need to The semiconductor equipment and best is where customers will be most technology exceeding 40GHz, an area no Semiconductor. commercialising nano-imprinters and to become the No 1 player in the East handle the surge in data speed and traffic high-frequency RF connectivity markets accessible – the Asian market, including other South Korean company had tackled. Orders last year reached more than TSV etchers. Asian market in 2020.” that come with using the 5G framework,” are about to face huge turning points this mainland China, Taiwan, Hong Kong, As the country’s only company with high- US$50 million backed by its enormous Kim says. “We expect data usage to year. Technical mega trends include Japan and South Korea. frequency bandwidth RF connectivity, it market-dominating power in the LED Semiconductor equipment High-frequency RF multiply far beyond the demands of 5G. As physical limits in integration into the 2D By 2020, GigaLane aims to secure grew by leading the market in etcher market, which recently started to trading business connectivity business such, we are now focusing our research on space, thus requiring 3D-stacked sales in excess of US$100 million in each smartphones, network infrastructure and regrow with explosive growth in demand. the 100GHz range.” semiconductors, an LED manufacturing of its three businesses by achieving defence aerospace RF components. The company also secured more than 80 GigaLane acquired and merged with A pioneer in high-frequency RF As mobile devices adopt high- process shift from 4-inch to 6-inch dominance in Asia.