Since its establishment in 1985, the Gimhae Chamber of Commerce and Industry has served as a network hub between local businesspeople, local governments, and universities to strengthen the competitiveness of local commerce and industry and to promote the revitalization of the local economy.

Gimhae’s only comprehensive economic organization

The Gimhae Chamber of Commerce and Industry is an organization established by local businessmen and is a comprehensive economic organization that encompasses all industries (except primary industries such as agriculture and fisheries) and companies in the city. “We are committed to revitalizing the local economy even under difficult conditions. We provide a variety of services, including member advocacy, up-to-date management information, local job creation, import and export certification, and fostering the next generation of management talent. Our basic principle is to create an environment where business people in the Gimhae region are respected and have a good place to do business, and we will listen to our members’ opinions and solve problems. We will grow together with the region as a network hub for local business people and as a communicator with local governments, universities, and communities.” says Chairman Noh Eun-sik. Currently, the organization has about 1,700 members, and Noh’s priorities include revitalizing external relations, policy alternatives, deregulation, strengthening corporate service support, expanding local government cooperation and community contribution activities, and creating local jobs. Gimhae is home to more than 10,000 companies, more than 70 percent of which have fewer than 10 employees. Metalworking companies have been forced to relocate their water-soluble coolant facilities by the end of this year due to government environmental regulations. Of the 382 plants, 48 must be moved by the end of this year and the remaining 334 by 2028. “There is an urgent need for policy support for the 48 companies in Gimhae that are targeted for relocation by the end of this year. It is virtually impossible for the companies to relocate on their own without policy alternatives or support from the government, and they need a lot of time to move. For the time being, there should be a moratorium, and policy alternatives should be put in place to improve the system in a way that environmental protection and local industrial development can be done together.” says Noh. 

DK Lok, a fittings and valves specialist with global presence

DK Lok employs all of its employees full-time, pays full tuition for their children’s higher education, and continues to help the underprivileged. The company was listed on KOSDAQ in 2010 and was the only company in Gyeongnam Province to be selected for the ‘2015 World Class 300 Project and Global Specialized Company Development Project.’ Starting with the $1 Million Export Tower Award in 2002, the company has been working hard to expand overseas, and as a result, has been awarded the $30 Million Export Tower Award in 2014, the $50 Million Export Tower Award in 2022, the Gold Tower Order of Industrial Service Merit, and the Presidential Citation for Regional Industry Promotion. The company is now a mid-sized company with annual sales of approximately 120 billion won and has become a global brand. “My father passed away when I was young. I graduated from elementary school, but instead of going to middle school, I farmed for a year. Although my father was gone, I was thankful that my mother was there, and I was happy that I could farm instead of studying. Then, at the recommendation of my cousin, I went to Busan, and I worked at a factory during the day and went to school in the evening, working and studying at the same time.” says Noh. After being discharged from the military, he joined his brother’s company, which was selling bolts, and worked there for 17 years before establishing his own company at the age of 30 and starting to manufacture fittings and valves. 

Fittings & Valves Global Top3

The company makes instrumentation equipment, semiconductor facilities and equipment, and large processor fittings and valves. The company generates 70% of its total revenue from fittings and the remaining 30% from valves used in industrial applications. As a result of continuous R&D and capital investment for perfect quality, the company has now obtained more than 50 relevant certificates from Korea, the United States, the United Kingdom, Germany, Japan, etc. The company is the second in the world and the first in Korea to obtain ASME’s N, NPT, NS STAMP, a certificate for manufacturing and production of nuclear power plant main equipment. Its products are supplied to more than 300 companies in Korea, including power generation, petrochemical, shipbuilding, offshore plants, railroad vehicles, CNG/NGV, and semiconductors, and are distributed globally through 117 distributors in 47 countries. The company has local subsidiaries in Italy and the UAE, and joint ventures in the United States, Russia, and Nigeria. 

Growing together

The company invests billions of won in equipment every year and generously supports employees’ self-improvement. “Continuous R&D and investment facilities are key to manufacturing. We also invest more than 100 million won in employee training every year.” The company also provides maternity benefits, congratulates employees on obtaining certifications, and supports overseas trips for long-term employees and their spouses, among other welfare policies that are rarely seen in mid-sized companies.

Noblesse oblige

Noh is practicing noblesse oblige. The company fosters local talent and was selected as an outstanding company for job creation in Gyeongsangnam-do in 2011, the first company in Gimhae to support intergenerational employment, and was selected as a youth-friendly small business by the Ministry of Employment and Labor in 2017. He built a school in Gori, Nepal, in the name of his company and established the Haegang Scholarship Foundation, which provides annual scholarships for children who refuse to give up on their studies despite their disadvantaged circumstances, and also donates scholarships to foster talent in his hometown of Hamyang. He supports scholarships through a sisterhood with the Children’s Foundation and donated 100 million won to the Gimhae City Future Talent Scholarship Foundation. He currently serves as Chairman of the Gyeongnam Enterprise Council of the Korea International Trade Association, Vice Chairman of the KOSDAQ Association, Chairman of the Gimhae City Future Talent Scholarship Foundation, Chairman of the Haegang Scholarship Foundation, and Chairman of the Overseas Hamyang-gun Association.