YG-1

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YG-1

logo
legal form Co., Ltd.
founding 1981
Seat Incheon , South Korea
management Ho-Keun Song
Number of employees 5,500
sales 391 billion KRW (2018)
≙ 305 million euros
Branch Manufacturer of metal and plastic machining tools
Website yg1.co.kr

The South Korean company YG-1 ( Korean 와이지원 ; pronounced: waɪ d͡ʒiː wʌn ) is one of the world's largest manufacturers of precision tools for the machining of metal and plastic .

Companies

YG-1 CO LTD was founded in 1981 by Ho-Keun Song (* 1952), who has been running the company to this day. The company headquarters is in Incheon , the third largest city in South Korea, not far from the capital Seoul and near the border with North Korea ( → location ). The group has 28 production sites in eleven countries in Asia , Europe , Africa and America .

Total sales increased from 298 to 391 billion South Korean won (KRW) between 2014 and 2018 . For 2019 it is estimated at KRW 445 billion. This corresponds to 232 (2014), 305 (2018) and 347 million euros (2019).

YG-1 CO LTD shares are listed on the Korea Exchange (KRX) in the KOSDAQ technology index under the identification number 019210.

Products

YG-1 produces milling tools , drills , taps and turning tools for metal and plastic processing. The tools are marketed under the company's own name, but some are also supplied as OEM products to other companies, who sell the tools through their own brands. It also manufactures machine tools , industrial 3D printers and components for medical applications.

YG-1 in Germany

Eschborn

The German company headquarters is YG-1 Deutschland GmbH , based in Eschborn . It was founded in 2001 and is registered with the Frankfurt am Main District Court under the commercial register number HRB 51150. The company's purpose is research, development, production, manufacture, import and export, sales and after-service of cutting tools and their accessories, export to Korea of ​​raw materials and machines for the manufacture of cutting tools and their accessories as well as technology transfer from Germany to Korea. The company has 6,950,000 euros of share capital and has thirteen employees (2017). The company describes itself as a sales organization for precision tools for the machining industry.

The YG-1 Germany GmbH in 2010 with the YG-1 Sales Germany GmbH merged in 2007 Ostfildern was founded and moved to Eschborn in 2009.

As part of the relocation of YG-1 in Oberkochen , the German company headquarters are to be relocated from Eschborn to Oberkochen in the medium term.

Remscheid

On the company website of YG-1, a Schumacher GmbH (Germany) is named as its own production company in Remscheid . In reality, this is Schumacher Precision Tools GmbH , a company founded in 1918 that is still family-owned today. The company specializes in taps and milling tools for the machining of metal specialized.

Schumacher does not belong to the YG-1 group, but has been cooperating with YG-1 since 1996. The Remscheid-based company has been registered with the Wuppertal District Court under the commercial register number HRB 12279 with its current name and a share capital of 75,000 euros since 2005 .

In 2015, YG-1 intended to set up its own company in Remscheid in agreement with Schumacher with research and development as well as a small sample production. This project was not implemented in Remscheid, but has been implemented in Oberkochen since 2017. The location in Oberkochen has recently been described by company spokesmen as "the only German YG-1 production location".

Oberkochen

In autumn 2017, YG-1 attracted nationwide attention with the purchase of extensive commercial space in Oberkochen . The small town in the Ostalbkreis in Baden-Württemberg has almost eight thousand inhabitants, is already the headquarters of global companies such as Carl Zeiss and Leitz and, as a commuter town, has more jobs than able-bodied residents. Besides Leitz, one of the world's leading manufacturers of precision tools for wood and plastic processing, there also the small and operating in the same industry company Oppold System International GmbH has its headquarters. In neighboring Aalen , the headquarters is the worldwide in the field of precision machining with metal cutting tools Technology leader Mapal . The YG-1 deliberately planned settlement in this environment should create a "European center of the tool manufacturing industry".

Planned new construction of the Technology Center in the industrial area "Oberkochen Süd II" ("Am Märzenbuckel")
On the left in the center of the picture the industrial area "Oberkochen Süd II" ("Am Märzenbuckel") with the YG-1 manufacturing center under construction, on the right the OWEMA company. In the background on the right the "Oberkochen Süd I", completely built by Carl Zeiss .

YG-1 acquired a large part of the new industrial area "Oberkochen Süd II" ( → Lage ) with the option to take over the remaining free area by 2023. Originally, this industrial area, which is signposted as “Am Märzenbuckel” at the roundabout at the southern exit of the federal highway 19 , was intended as a development area for smaller companies that cannot expand in the city center. Until then, however, only the company OWEMA, which belongs to the Nagel Group, had made use of it.

YG-1 stated that it wanted to build a production and technology center on 1.5 hectares in the first construction phase . In a second step, large office complexes were to be built by 2023, as the European headquarters of YG-1 were to be relocated from Paris and the German headquarters from Eschborn to Oberkochen and European activities were to be controlled from the Ostalb in the future. A total of around a thousand new jobs should be created in “Oberkochen Süd II” by 2023 on a company site measuring 3.2 hectares in the final expansion stage.

The Baden-Württemberg Ministry of Economics, Labor and Housing was involved in the preparatory discussions and supported the settlement. According to Economics Minister Nicole Hoffmeister-Kraut , who described the YG-1 project as “a wise investment decision and a commitment to Baden-Württemberg” as well as “a great success for Oberkochen”, this was measured by the number of associated projects Jobs represent "the largest settlement of a foreign company in Baden-Württemberg" since 2012.

While industrial settlements of this kind are rated positively elsewhere, the mayor of Oberkochen, Peter Traub, who initiated them between April and September 2017 with the company founder Ho-Keun Song and his representatives, received some severe criticism. Carl Zeiss , Leitz and smaller local companies, but also Mapal in Aalen , saw the additional industrial establishment more as a danger and less as an opportunity for the region. In view of the planned thousand new jobs, they feared aggressive competition for the scarce skilled workers on the Ostalb .

In a closed session on November 7, 2017, the Oberkochen municipal council approved the sale of the property by a majority of eleven to seven votes with one abstention. The commercial space was sold by the city of Oberkochen at the usual square meter price, no subsidies were paid for the investment, which was then estimated at sixty million.

YG-1 Technology Center GmbH in Kapellenweg 23/1 in Oberkochen
YG-1 at Königsbronnerstraße 48 in Heidenheim

The Oberkochen head office of YG-1 was temporarily set up in Kapellenweg 23/1 ( → location ) and registered as YG-1 Technology Center GmbH at the Ulm District Court under the commercial register number HRB 736255. This company was founded on January 10, 2018 with a share capital of one million euros. The object of the company is specified with "import and export, manufacture, sales, after-service, technology transfer from Germany to Korea as well as research and development of cutting tools and their accessories as well as the advice and mediation of business in the aforementioned areas". At the beginning of 2018, YG-1 rented a hall in nearby Heidenheim ( → location ) for the interim production of cutting tools. In May 2019, 38 people were employed in the new GmbH.

On May 2, 2019, the symbolic groundbreaking ceremony for the first construction phase took place on a plot of land of 4,800 square meters. As CEO Ho-Keun Song and the Oberkochen managing director Heiko Schild explained, YG-1 is investing ten million euros in the new technology center. In a second construction phase, an administration building with a training center is planned.

By April 2020, the share capital was gradually increased to 17.5 million euros. The technology center is to be officially opened on July 6, 2020 and will house a production area and a demonstration center on 3000 square meters.

Web links

Individual evidence

  1. ↑ a b YG-1's company website
  2. ↑ a b YG-1's company website
  3. ↑ a b c d Bernhard Hampp: YG-1 starts in Oberkochen. Schwäbische Post on May 3, 2019, p. 34.
  4. ↑ a b YG-1 CO LTD (019210) - Fundamentals. on marketscreener.com. Retrieved March 10, 2019.
  5. ↑ a b Ken Fouhy: Tool manufacturer YG-1 attacks in Germany. On maschinenmarkt.vogel.de on September 9, 2010.
  6. ↑ a b Ulrike Schneider, Lothar Schell: YG-1 wants to create 1000 new jobs in Oberkochen. in Wirtschaft Regional, October 2017, p. 6.
  7. ↑ At an average exchange rate of 1000 KRW = 0.78 euros.
  8. ↑ YG-1's company website
  9. ^ YG-1 Deutschland GmbH, Eschborn on northdata.de. Retrieved March 20, 2019.
  10. ^ Company website of YG-1 Deutschland GmbH
  11. ^ YG-1 Vertriebsgesellschaft Deutschland GmbH, Eschborn † on northdata.de. Retrieved March 20, 2019.
  12. ↑ a b c d Gerhard Stock: City council decides to relocate the South Korean company "YG-1". Heidenheimer Zeitung on November 10, 2017.
  13. ^ Overseas Production Corporation on the YG-1 corporate website. Retrieved March 20, 2019.
  14. ↑ In the YG-1 Cutting Tool Company video on the company website of YG-1, a location in "Remscheid, Germany" is shown (0:17) and Schuhmacher Precision Tools GmbH is listed as one of the "Factories" of YG-1 in Europe (2:28). Retrieved March 20, 2019.
  15. ↑ a b c d Gerhard Schattat: Schumacher Precision Tools. Engineering attracts Koreans. Remscheider General-Anzeiger on July 14, 2015.
  16. ↑ Schumacher Precision Tools GmbH, Remscheid on northdata.de. Retrieved March 20, 2019.
  17. ↑ a b Eckard Scheiderer: Starting signal for YG-1 in Oberkochen. Aalener Nachrichten on May 3, 2019, p. 17.
  18. ^ South Korean tool center in Oberkochen. Aalen News on September 28, 2017.
  19. ↑ Ulrike Schneider, Lothar Schell: YG-1 is planning that in Oberkochen. Gmünder daily mail on March 30, 2018.
  20. ↑ a b c Ulrich Geßler: Criticism of the settlement of YG-1. Swabian newspaper on November 7, 2017.
  21. ↑ a b Up to 1,000 new jobs in Oberkochen. Press release by the Baden-Württemberg Ministry of Economics, Labor and Housing on September 28, 2017.
  22. ↑ 1000 jobs in Oberkochen. on November 9, 2017 on bild.de.
  23. ↑ Korean group plans center with 1000 jobs. German press agency on September 28, 2017 on schwaebische.de.
  24. ↑ 1000 new jobs? No thanks! on arte.tv. Retrieved March 16, 2019.
  25. ↑ Bernhard Hampp: YG-1 starts in Oberkochen. onwirtschaft-regional.de.
  26. ↑ Lothar Schell: YG-1 new building is on schedule. Schwäbische Post on October 7, 2019, p. 14.
  27. ↑ YG-1 Technology Center GmbH, Oberkochen on northdata.de. Retrieved May 17, 2020.
  28. ↑ Construction of strategic pillar for YG-1 is finished. Schwäbische Zeitung on June 24, 2017.