HK. Co., Ltd.
- Leading Laser cutting machine Manufacturer -
HK. Co., Ltd has changed their 26 years-old name ‘Hangwang.’ Furthermore, it has completed the 3,600 square meters second factory, ‘Doyakgwan.’ Why has the company changed the name of it and completed its office building? MTM visited the CEO of HK. Co., Ltd, Gye Myeong-je and listened to the reasons and his opinion about ‘change.’
Advance in industry has brought about complexity of forms and difference of materials which is hard to be made by the existing technology. ‘Laser’ has suddenly appeared like shine from the sky and become the mainstream. Laser cutting machine is suitable for small quantity batch production. It is economic so that its demand has been increasing.
HK. Co., Ltd is one of the best laser cutting machine manufacturers in Korea. The company competes against world-famous German and Swiss companies.
The company exports laser cutting machine to around 30 countries in the world including United States, China, Canada and Russia and has branches in United States, China and Turkey. What is the secret of its success despite of European and Japanese companies' dominance?
The CEO of HK. Co., Ltd, Gye Myeong-je, pointed out contact service for various models as the first reason. Laser cutting machine enables users to make different metals such as iron plates, stainless steel and pipes. The company takes into account this feature and offers customized before and follow-up service. Another reason is constant employee training. He said that the competitiveness of the company is from ‘human resource’ and that is why the company fosters its own technology masters through its technology training center.
“The most important thing is to invest in R&D continuously and decisively. In the past, other domestic companies made laser cutting machine, too. Companies have to invest technology development continuously to stay competitive but it is hard to do. Therefore, some companies hesitated to change and left laser cutting machine area.”
On the contrary, HK. Co., Ltd, has been investing more than 10% of its revenue into R&D and the ratio of R&D employee accounts for 22%.
Employees had to move along the place where products are placed a t the existing factory. However, the new manufacturing system has been invented and they do not need to move as products move on rails.
New name with New house
HK. Co., Ltd has been evolving and changing relentlessly. I could not resist myself to ask the reasons why the company has changed its name and completed the new office building. The company gave up its 26-years-old name, ‘Hangwang.’ The CEO, Gye Myeong-je said that the main reason is that it is hard for overseas customers to pronounce the old name.
Another changes are the newly-built second factory and the new office building. It is because that the previous factory could not accommodate the whole yield. In addition, the factory had not enough space for training curriculum for foreign dealers or customers and domestic customers.
Change is not a strange thing to HK. Co., Ltd. The CEO, Gye Myeong-je emphasized “continuous technology development is required to compete against high-class companies in the world. It is directly connected to our survival. HK. Co., Ltd has currently established a supply chain to expand its business area along with its main area, laser cutting technology. In other words, it establishes a supply chain including bending machine, deburring tool and welding.
The company buys bending machine and deburring tool which are quality and affordable on a large scale and offers those to customers at reasonable price.
I asked the goal in the future. The CEO, Gye Myeong-je, reveal “The factory we have can produce abour 600 machine and the revenue is estimated to exceed 300,000,000,000 Won. We are planning to accomplish our short term goals first to become a world top 3 laser cutting machine manufacturer in a long-term following European and Japanese companies.