Korea Machine Tool Manufacturers'Association

Korea Machine Tool Manufacturers Association (KOMMA) is the Korea leading Trade Fair Organizer. Korea Machine Tool Manufacturers Association (KOMMA)Organises the largest & most unique of the Korea Machine Tool Exhibition SIMTOS which attracts largest number of visitors. KOMMA hosts seminars on trends and perspectives in the field of machine tools and industrial robots. The global machine tool market continued its sluggish performance in 2014 with production falling 3.1% to US$81.3 billion, a slide that now has extended for three consecutive years. Despite the lingering stagnation, Korean machine tool production managed to score a 9.3% increase last year, raising its global ranking to fourth from fifth in 2013.This success is largely thanks to Korean machine tool industriesâ efforts and dedication to creative innovation. Today, we are continuing to strive for the further development of the machine tool sector, the mother of manufacturing industries. To make 2015 a banner year for its creative economy initiatives, the Korean government has unveiled a plan to mobilize around 100 trillion won for new growth engine businesses and startups. This stimulus package is designed to establish a startup-friendly ecosystem and promote the transition from traditional industry to smart manufacturing. This year, Creative Economy Innovation Centers will be established to facilitate creative connectivity and collaboration among conglomerates, SMEs and research institutes. Manufacturing Innovation 3.0, a government initiative to create the factories of the future, will be pursued vigorously, aimed at converging informationcommunication technology with traditional manufacturing processes to evolve smart factories that integrate design, production and distribution with intelligent ICT systems. The value of Korea as the heart of manufacturing technology in the Asia-Pacific region is expected to grow more sharply with the synergy effects of Korea’s bilateral free trade agreement with China, the hub of the global manufacturing industry. Reflecting the depth and breadth of Asia’s robust economy, Gardner statistics show that Asia is home to 5 of the top 10 machine tool consuming countries in 2014. The five -- with a combined 59.4% of the global total -- are China (42%), Japan (6.8%), Korea (6.5%), Taiwan (2.2%) and India (1.9%).With the official signing of the Korea-China FTA, Korea will be the only major economy with open trade agreements with the world’s top three economic powerhouses, including the EU and the United States. Established as the fourth largest exhibition of its kind in the world, SIMTOS is the premier event on the global calendar of manufacturing technology exhibitions. Under the theme â Convergence of Manufacturing Technologies & Machine Tools,â SIMTOS 2016 will comprise six themed pavilions where more than 800 exhibitors will showcase their latest innovations to buyers and visitors from all over the world.