KOREA METAL WEEK 2024

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Many Chinese and Indian Exhibitors Target Korea's Domestic Market

Korea's annual manufacturing industry event, Korea Metal Week, was held from October 16th to 18th at Center 1 of the KINTEX exhibition ground, with the support of a number of local Korean manufacturing industry associations.

Nearly 300 exhibitors from Korea, China, India, Japan, Germany, Canada, Italy, Switzerland, Spain, Taiwan, the U.S., Russia, and Cyprus came to showcase a variety of industrial metal products and peripheral equipment & services. In addition to the largest number of Korean local exhibitors, about 90 Chinese exhibitors formed the largest international pavilion at this year's event, while the second largest pavilion was from India (more than 20 exhibitors), showing Chinese and Indian exhibitors’ optimism about the recent domestic market in Korea.

The show was divided into 14 thematic zones, including: Fastener & Wire, Foundry & Die-Casting, Automobile & Machine Parts, Press & Forging, Tube & Pipe, Surface Treatment & Painting, 3D Technology, Aluminum, Laser & Welding, Fundamental Manufacturing Technology, Pump Technology Industry, Tools, Composite, Control, Measurement & Automation. The clear separation of exhibits made it easy for buyers to find interested exhibitors quickly. During the first two days of the show, the organizer also invited experts and representatives to hold a total of 13 seminars on ESG, vehicle lightweighting, environmental sustainability, and injection molding technology, which are the most concerned topics in the industry. “This show offers an exceptional opportunity to meet domestic and overseas buyers and exchange ideas on relevant technologies in the industry,” said Hongyu Lee, CEO and Chairman of the show.

Fastener World also participated as exhibitor in the “Fastener & Wire” zone this year and interacted with many Korean buyers. According to our observation, most of the visitors who came to Fastener World's booth were small and medium-sized fastener traders or importers, and some of them acclaimed that Fastener World Magazines are a worth-reading industry toolkit, which is very helpful for them to find suitable manufacturers to place orders.

Korea is one of the most important industrial products exporting countries in Asia, and the development momentum of its supply chains of metal parts processing and manufacturing is more mature and robust than that of other emerging countries in Southeast Asia. Its demand for fasteners for automotive, electronics/3C and heavy industries is more obvious. The latest Korean official statistics show that Korea's exports in September 2024 set a new record for the largest single-month export, and showed growth for the 12th consecutive month. Coupled with the competitive advantage created by the signing of FTAs with Europe and the U.S., Korea’s exports to Europe, the U.S., the Middle East, China, and ASEAN all showed growth as well.