2013 Five Region Fastener Association Conference was successfully held on 19 June in Shanghai, China as the concurrent activity of 2013 Fastener Expo Shanghai. Mr. Auh, Jin-Sun, president of Korea Federation of Fasteners Industry Cooperatives, introduced the general situation of South Korea’s fastener industry in 2012.

The total output of South Korea’s fasteners was 950,000 tons in the value of USD 3.65 billion in 2012, seeing a slight decrease in compared with the same period of 2011. This was caused by the reduced output of automobiles. The total output of automobiles including KD was 5,993,181 units in 2012, down 1.93% from last year. 

According to the investigation and evaluation by Korea Federation of Fasteners Industry Cooperatives, automobile industry, construction industry, and electronics industry were the three largest consumer groups of fasteners, demanding more than 700,000 tons (73.4%), 130,000 tons (13.8%) and 10,000 tons respectively, and the rest 110,000 tons went into other industries.

The import value of fasteners came to USD 450 million in 2012, up 2.2% in comparison with 2011 (2011: USD 440 million). The fasteners imported from mainland China, USA, Germany, and Japan were USD 160 million, 102 million, 36 million, and 32 million, respectively, with such fasteners shipped from mainland China taking the highest share of 36.9%.

The export value of fasteners reached USD 607 million dollars in 2012, up 25.1% while compared with 2011 (2011: USD 480 million). Considering the import value of USD 450 million, it is easy to find a trade surplus of USD 157 million.

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