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Special News by Ulsan Daily News - "Interview with Promising Companies"

Interview with Lee, K W (President of T&C)

(PresseBox) (Ulsan - Hamburg - Munich, ) Ulsan City is a mecca of world shipbuilding industry, and shipbuilding plays the role of locomotive for local economy. There is a company that established a solid foothold in ship design within the shipbuilding industry.

T&C is a new company incorporated in 2008, but consists of many experts in ship design.
The Company employees about 50 engineers and has about 10 experts who have more than 20 years of experience.

Ship designing is a hard work taking about a year to complete, producing several hundred thousands of drawings, and everything must go to the plan without a hitch. Depending on the design, shipbuilders can save building cost or shorten the construction period. Therefore experts’ know-how is essential in ship design.

T&C provides the total solution, from the basic structural design to the precise production design.

The Company runs the in-house R&D Center to offer better services to its clients, with technical competence and competiveness through extensive developments in design systems and software.

Based on the secured technical competence and continuous training for its engineers, the Company has established the profitable business structure, and now focuses on global expansion beyond the local market with the Company’s competitiveness.

The Company’s turnover was merely U$420,000 in 2008 but the Company reported U$3.8 million turnover last year expecting the same for this year. The Company is influential in the local ship-related industries; the parts specified in the design are supplied by local companies, and if the ship is for export, the related parts are also exported.
The Company sees the shipbuilding industry to remain sluggish due to global economy crisis, but expects it to recover in the second half of this year.

The Company is developing the export market; it was awarded the contract for the Chinese oil probe project, but the Company is nursing its constituency in the local market first, and plans to exploit the overseas market in one or two years of time. The overseas ship design industry is inadequate and hard to enter, but once penetrated, it is highly significant.

T&C with extensive experience in designing of commercial vessels like chemical oil tanker, block carrier and cargo vessel; special vessels like marine probe and oil prospecting ship, has been selected as the Venture Company and INNOBIZ by the authorities within 2 years of incorporation. In terms of design in small and medium sized vessels and technical competence, the Company is already grown as the leader in the engineering industry.


Interview with Lee, K W (President of T&C)
“Making a new leap as the comprehensive service provider offering materials, parts and consulting services”

- Why is ship design important in small and medium sized vessels?
In general, a ship design is divided into 5 segments; hull, outfitting, mechanical, electrical and accommodation designs. The general ship design is a difficult task taking a long period of time requiring a good communication with the ship owner. The general design is a major contributor to growth in peripheral industries such as parts and component industries for shipbuilding. The ship design can result in a significant savings of time and money in shipbuilding.

- What is your view on the shipbuilding industry in Ulsan?
There is no other ship design company but us for small and medium size vessels. For large vessels, large engineering companies work on economy of scales, but companies like us who specialize in special vessels, must survive with differentiated values. Shipbuilding is sluggish in Ulsan, but Ulsan must be able to offer shipbuilding technologies such as ship design. This way, Ulsan can have competitiveness in the shipbuilding industry.

- What is your plan for the future?
T&C will play a role of the ‘one-stop service center’ to the shipbuilding industry, by supplying machines, equipment and materials to the design, and also by providing after-sales services and quality assurance services. The Company will set up the Marketing Team and the Production Quality Assurance Team to prepare for the world market.

The Company will break away from the role of a vendor of a large company, and become the first and the largest general engineering company in Korea that provides comprehensive services for special vessels.

- What is your corporate policy?
Trust and Challenge are the corporate policy we have set. We must gain trust from our customers, and need a challenging spirit for something new. Persistency is also an important virtue, especially when the ship design works are difficult and lengthy. Ship design is the driving force behind growth in the shipbuilding industry, and growth of the Company will promote growth in the local economy. All of our staff is proud of this fact.

- How do you foresee the development in the ship design?
There are a great number of small and medium shipbuilders in Korea. If they go through restructuring only a handful of competitive ones will survive. With growth in these companies, the ship design market will grow together. 4 contracts a year will make the Company stable. We expect significant orders in the future.


Companies that are interested to meet T&C during SMM exhibition can book one-on-one meetings at:
Tel: +49-160-3791-8446 or E-mail: jun@secuentro.com

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