Mr. Kim Sang-don, CEO of Wonyoung Seal Corporation (wonyoung.co.kr) was awarded the 45th Trader of the Month for his contribution in achieving the excellent export performance of Wonyoung Seal Corporation, a Korea¡¯s hydraulic and pneumatic sealing product company.
Wonyoung Seal Corporation was established as an enterprise specializing in manufacturing and supplying hydraulic and pneumatic sealing and packing products in 1991.
Since its establishment, the company has continued to tap new markets at home and abroad with hydraulic and pneumatic sealing products designed for industries and heavy machinery. Since 2005, WYS has provided vehicle seals, which have been internationally recognized for their quality and technology, and has become established as an international oil seal manufacturer and supplier to large vehicle manufacturers both within and outside of South Korea.
While China is rapidly emerging as a major economic power, Wonyoung is establishing stable foundations for growth in the market by setting up a local subsidiary with its own factory in Quingdao, China.Now, the local subsidiary serves as an advance base for export expansion by the head office in Korea, and submits products to international exhibitions in China every year in order to enter the rapidly growing Chinese market faster than others and hold a dominant position in sales. As
a result, Wonyoung¡¯s exports have soared significantly.
Despite the recent unfavorable conditions in the global markets, the company¡¯s sales have been showing an upward trend. Wonyoung achieved 5.2 billion won in 2008 and 6.9 billion won in revenues in 2009, respectively. Building on this, the company recorded 8.1 billion won in 2010, whereas the shrinking economies in China and Europe put the company¡¯s revenues in 2011 at a similar level to the previous year.
Construction machine and industrial heavy equipment industry in Korea have achieved enormous improvement through the consistent R&D efforts and investments on the core technologies from large companies for the past 30 years. However, the hydraulic and pneumatic sealing and packing technologies have relatively lagged behind and still depend largely on the imports from Japan and other countries.
To overcome the technological gap, all employees of Wonyoung have exerted all their efforts to retain the best hydraulic and pneumatic sealing and packaging technologies in the world.
As a result of intensive R&D investments in the past five years, Wonyoung has come to launch superior quality seal and packing materials whose quality has been recognized by clinching supply contracts with Korea¡¯s leading companies such as Doosan Infracore, Dongyang Mechatronics and Everdigm.
Mr. Kim Sang-don, CEO of Wonyoung Seal Corporation (wonyoung.co.kr) was
awarded the 45th Trader of the Month for his contribution in achieving the excellent export performance
of Wonyoung Seal Corporation, a Korea¡¯s hydraulic and pneumatic sealing product company.
Wonyoung Seal Corporation was established as an enterprise specializing in manufacturing
and supplying hydraulic and pneumatic sealing and packing products in 1991.
Since its establishment, the company has continued to tap new markets at home and abroad
with hydraulic and pneumatic sealing products designed for industries and heavy machinery.
Since 2005, WYS has provided vehicle seals, which have been internationally recognized for
their quality and technology, and has become established as an international oil seal manufacturer
and supplier to large vehicle manufacturers both within and outside of South Korea.
While China is rapidly emerging as a major economic power, Wonyoung is establishing
stable foundations for growth in the market by setting up a local subsidiary with its own factory
in Quingdao, China.
Now, the local subsidiary serves as an advance base for export expansion by the head office
in Korea, and submits products to international exhibitions in China every year in order to enter
the rapidly growing Chinese market faster than others and hold a dominant position in sales. As
a result, Wonyoung¡¯s exports have soared significantly.
Despite the recent unfavorable conditions in the global markets, the company¡¯s sales have
been showing an upward trend. Wonyoung achieved 5.2 billion won in 2008 and 6.9 billion won
in revenues in 2009, respectively. Building on this, the company recorded 8.1 billion won in 2010,
whereas the shrinking economies in China and Europe put the company¡¯s revenues in 2011 at a
similar level to the previous year.
Construction machine and industrial heavy equipment industry in Korea have achieved
enormous improvement through the consistent R&D efforts and investments on the core
technologies from large companies for the past 30 years. However, the hydraulic and pneumatic
sealing and packing technologies have relatively lagged behind and still depend largely on the
imports from Japan and other countries.
To overcome the technological gap, all employees of Wonyoung have exerted all their efforts
to retain the best hydraulic and pneumatic sealing and packaging technologies in the world.
As a result of intensive R&D investments in the past five years, Wonyoung has come to
launch superior quality seal and packing materials whose quality has been recognized by
clinching supply contracts with Korea¡¯s leading companies such as Doosan Infracore, Dongyang
Mechatronics and Everdigm.
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