Korean Die Casting Industry Golf Championship to Fight the Economic Crisis
It was the first time that the LK Group organized the annual golf championship together with the Korea Die-Casting Industry Cooperative. The event aims to carry forward the spirit of golf, providing a welcoming environment against the COVID-19 pandemic and the global economic crisis.
The golf championship, co-organized by LK Group and Korea Die-Casting Industry Cooperative (KDIC) at Cygnuss Country Club (South Korea), was attended by 50 committee players from KDIC.
Collaboration Going Beyond the Sport of Golf
South Korea is one of the largest casting producers and automobile manufacturers. In 2015, the founder of LK, Mr. Liu, was appointed president of the Hong Kong Foundry Association. He has been actively engaged in the exchange and collaboration of technical expertise and industry information between KDIC and related industries in both places to facilitate the sustainable development of related businesses and help companies take advantage of the opportunities arising from rapid economic growth.
In 2020, LK took the opportunity to place an order for a 6000t and a 4000t die casting machine with a customer in Korea. The 4000t die casting machine was ordered for its factory in Vietnam and is now in the process of installation and commissioning. It will be used for semi-solid metallurgical processing to produce 5G telecom structural components for an internationally known Korean communications company. The production of the 6000t die casting machine is expected to start in early 2021.
Overcoming the Global Economic Crisis
Jang Seok-ki, chairman of KDIC, says: "Currently, the Korean automotive die casting manufacturing market is facing a period of transition from traditional fuel vehicles to electric vehicles. Although the number of traditional die casting parts has decreased, the demands of electric components have gradually expanded from the chassis, body, and other structural parts. It is required for a higher standard to the large-scale die casting equipment."
In response to the outbreak of COVID-19, the seminar reported that there are opportunities to advance the requirements for large die casting machines to produce components for electric vehicles. And it promoted the introduction of a smart factory which deals with the Industry 4.0 of digitalization to remain competitive. With the benefits of participating in the creation of smart factories for the entire factory, combining these new technologies with their manufacturing know-how to link the production process and the factory site.
To expand the market for structural parts for electric vehicles, there must be a strategic plan to ensure sustainable competitiveness in talent development. At the moment, the entire industry is looking forward to professional recruitment. They have also decided to look into specialized educational institutions that will be responsible for this. Active professional development ensures that knowledge and skills remain relevant and up-to-date. It also enables employees to become more aware of the changing trends and directions in an industry.
In 2020, the global die casting market has gained momentum due to emerging industries such as lightweight automotive design, new drive vehicles, 5G communications, and capacity is still considerable. The LK Group will continue to work with KDIC to promote technological progress and development of the die casting industry in Asia.