- April

  • Business is Booming
    Korea has often been referred to as a limitless frontier of opportunity for foreign companies and investors. The domestic market has adjusted their strategies and procedures over the years to blend with their foreign counterparts.
    Over the last two years, the Korean economy has suffered a severe downturn, but the foreign investment index has risen and has also helped to support companies such as Ja Kyung to be more competitive in the marketplace at home and abroad.
    From the year 2000-2005 Ja Kyung’s business has increased dramatically-from about 2,700 metric tons of sales in 2000 to over 3,700 tons of total sales in 2004. This year we expect further increases as our market radically expands to other regions -particularly India, South America and the Middle East.
    Below is a graph of our growth over the past 5 years. We maintain that our first-rate product quality and service will always propel us to great heights in the world chemicals market.

  • World News
    • China: The final frontier?

      Anyone who watched TV in 1966 remembers the words, "Space, the final frontier." With those four words, Star Trek transported us into a universe filled with imaginary possibilities. Today, we face similar opportunities right here on Earth. The place is China - truly "the final frontier" for business in general and our industry. No other country in the world harbors as much potential. But like space, China is not one-dimensional.
      What appears promising can be disappointing, while success may be found where least expected. In a country with 1.3 billion people, one need not look far to find opportunities. But people are only part of the equation. The Chinese economy is the real story.

    • Good news for pulp

      Today, China is the world's sixth-largest economy, and at its present growth rate, China will surpass the US as the largest economy in the world in 2040. China is already accountable for 76% of the growth in world demand for pulp.
      But this is just the beginning. Paper consumption in China will hit 80 millions tons by 2010 and 100 million by 2015. To meet this need, the Chinese plan to increase paper and board production to an estimated 22.3 million tons in 2005. It will do this with "New China" machines that are newer, larger, and run predominantly on imported fibers.
      The good news for pulp producers is that the Chinese currently lack the capacity to produce enough pulp from higher-quality wood fibers to meet their needs. Since 1980, pulp imports into China have increased from 0.5 million tons to almost six million tons last year. For the short term, then, we have an opportunity to help the Chinese meet their demand for pulp. Because for all of the upside China represents, there is a downside.
      Just last week, news of a slowing Chinese economy sent a tremor through the stock market. This tremor signalled that the Chinese economy is subject to the laws of economic gravity. This point is not lost on the Chinese government. It is keenly aware of the looming risks of an overheated economic engine and recently took steps to eliminate uneven growth due to over-investment in some steel, aluminium, luxury housing, and auto production.
      The concern is that over-investment will produce a dotcom-like collapse in the Chinese economy, which would undercut foreign investor confidence and slow further investment. There is also growing concern for banks overburdened by bad debt.
      This is not to say China isn't a force that will continue to transform the world economy. Nor does this mean our industry shouldn't partner with China to help that transformation.
      Ripple effect
      What are our responsibilities in such a partnership? First, we must maintain our focus on safety. No opportunity, no matter how enormous, should place the safety of workers at risk.
      Second, we must maintain our focus on the environment. We must serve the needs of the emerging Chinese economy in a responsible manner that preserves the forests for future generations in the countries that supply pulp to China. When forests are stripped bare and not replanted, we all share the blame.
      Third, when we do invest, we must invest wisely. We need to build a partnership with China with an eye looking five to 10 years into the future. We cannot be swayed by month-to-month swings in demand.
      Fourth, all parties involved in a trade relationship ? including the Chinese ? must agree to communicate openly and clearly with stakeholders. We must talk about and live the principles of free trade. All too often, we've seen trade relationships hampered by selfish legislation designed to benefit one group at the expense of others. We must use our trade associations wisely and ensure that they support free trade approaches.
      Fifth, we must remain open to change. China is a new opportunity and, like the frontier of space, it will cause us to rethink some of our cherished suppositions. We are seeing a movement away from annual fibers toward wood fibers in the production of high-quality paper and board. We are seeing Chinese customers moving more toward direct relationships with their suppliers. We are seeing more direct selling, which means less cyclicality in buying patterns.
      These are changes that require us to adapt our business practices to new models. What we're witnessing in China is an economic miracle of historic proportions. It truly is "the next frontier." We must travel through that frontier as partners with China. We must preserve those things that have made us great while remaining open to change.
      If we do, then we too will accomplish something historic.

    • JPMorgan Chase Announces Environmental Policy

      JPMorgan Chase, New York announced that it has adopted a comprehensive policy that applies high environmental standards to the firm’s global business activities.
      As part of JPMorgan Chase’s broad commitment, the firm has adopted the Equator Principles, guidelines that promote environmental and social responsibility in project financing. In addition, the firm will apply the Principles to projects that are $10 million or above in environmentally sensitive industries, exceeding the threshold of $50 million set by the Equator Principles.
      In addition to the Equator Principles, the company’s new policy also addresses issues including climate change, sustainable forestry, the protection of critical natural habitats, illegal logging, and the needs and concerns of indigenous peoples. Highlights include:
      ? JPMorgan Chase advocates the reduction of greenhouse gas emissions. In addition to reducing its own emissions, the firm will work with clients to develop new financial products that facilitate emissions reductions, conduct research into the financial implications of the rising cost of carbon, and deploy investment capital to businesses that reduce or mitigate greenhouse gases.
      ? JPMorgan Chase is taking significant steps in protecting biodiversity and critical habitats by instituting certain "no-go" criteria in forests whose high conservation values are endangered. In addition, the firm will not finance companies or projects that are knowingly engaged in illegal logging.
      ? The policy is the first of any financial institution to incorporate environmental risk management into the due diligence process of its private equity divisions.
      "A policy of this magnitude illustrates our commitment to preserve and protect the world around us," said Amy Davidsen, director of environmental affairs. "We recognize that the policies and practices we adopt today will shape not only our lives, but also those of future generations."
      JPMorgan Chase set up its Office of Environmental Affairs in April 2004 in order to evaluate the firm’s own use of resources and to integrate environmental and social awareness into its risk management process. The office carefully considered the viewpoints of various constituents before developing the policy, including customers, business and community leaders, environmental groups such as Rainforest Action Network, and a shareholders group, which includes Christian Brothers Investment Services, Domini Social Investments, F&C Asset Management, Friends of the Earth, and Trillium Asset Management.
      "Conducting business with the highest standards and supporting the communities we serve is part of our firm’s culture," said William B. Harrison, Jr., Chairman and CEO. "As a leader in global finance, we recognize our responsibility to the environment and will support and encourage projects aimed at sustainable development. This is a policy that our employees, shareholders, and clients can be proud of."

    • Tasmanian paper made from 'roo poo'

      Visitors to Tasmania will soon be able to buy a new souvenir of their Australian experience - paper made from kangaroo manure.
      "It's a great product for tourists, but it's also something that gets our eco-friendly message home to a lot of people," said Joanne Gair, manager of Creative Paper Tasmania.
      The first batch of paper has now been produced, but Ms Gair conceded that there was one remaining problem - finding a constant supply of kangaroo and wallaby dung.
      "At the moment we are finding it very difficult to get the quantity of poo we need," she said.
      "We are hoping the community will help by collecting poo for us and dropping it off in plastic bags. New or old, we'll take it all," she told the Advocate newspaper.
      The company estimates that about 400 A4 sheets of paper can be made from 25kg (55 pounds) of kangaroo manure.
      Ms Gair said her idea was inspired by the success of the elephant dung paper industry in Africa.
      "I also discovered that in Scandinavia, elk poo paper is the stationery of choice in most offices," she added.
      "That got me thinking we should create a uniquely Tasmanian paper from roo poo."

    • Technology News
      The critical role of lubrication and delivery

      By David A. Pierman

      Year after year, advancements in equipment and technologies enable paper machines to meet the ever-increasing demands of productivity. Although it is not often thought of as "part" of the equipment, lubrication is an integral component. Lubrication can be a weak link if not given proper attention, and it has a significant impact on the life, quality, and productivity of paper machine bearings.
      Proper lubrication is essential for all paper machines. Lubrication serves to carry away heat, reduce wear and friction, minimize debris problems, and protect bearing surfaces from corrosion. For instance, wire section bearings require continuous greasing to stop water ingress. Press section bearings demand high-quality greases and oils due to the loads encountered. Drying cylinders require lubricants that can withstand temperatures in excess of 300º F. Just as bearings have improved in design, proper lubrication selections and practices must go hand-in-hand to achieve maximum performance.
      Almost half of all bearing failures are due to improper lubrication. Recognizing early warning signs of lubrication problems, such as increased operating temperatures, lubrication leaks, and unusual noise and vibration, can help prevent bearing damage.
      Options in lubrication
      Just as important as proper lubrication levels is selecting the correct type of lubricant. The most common mediums are oil and grease, and each serves to meet specific application needs and demands.
      Paper machine oils used in bearing applications offer a viable lubrication solution and are either synthetic or mineral. Oil tends to operate better than grease in higher-temperature applications because it circulates more freely, resulting in the dissipation of heat. It allows contaminants to be flushed or filtered from the bearing and can allow the bearing to attain higher speeds. Oil levels also are more easily controlled and easier to drain and refill, yet they can be tricky to seal in some situations.
      Conversely, grease?a precise combination of oil, thickeners and additives?is more easily confined to the bearing. Grease acts like a sponge to retain and release oil, but it also performs like a seal against moisture, dirt, and other contaminants. With no oil levels to maintain, it requires less frequent lubricating and its thickness makes leakage less likely to occur.
      Lubrication delivery
      Proper lubrication is an essential component of effective preventive maintenance. Knowing how to properly deliver and apply the lubricant is critical to the performance of that equipment.
      Oil circulation systems assure a proper and constant supply of lubricant to the bearings and are often used in the paper industry. These systems are designed to pump paper machine oil from a central oil reservoir to different parts of the machine and then return it to the reservoir for cooling. Circulation systems offer the advantage of removing heat from the bearing, as well as allowing any water entering the system to be separated in the oil reservoir and be periodically drained off. Filtration units built into the system protect bearings from debris that can be detrimental to bearing life.
      Grease also is a viable option for lubricating paper machine bearings. The paper machine grease must offer long life in hotter temperatures and possess excellent corrosion resistance and water washout properties, especially in the wet end of the operation.
      When delivering grease, manual delivery is a viable option, but bearings can easily be over or underfilled. When applying the grease, it should be forced between the balls or rollers until the available space inside the bearing is filled completely. If a grease gun is used, pressure must be regulated so as not to damage any seals or other parts of the machinery.
      Grease delivery generally follows the 1/3 rule. This means that the bearing will expel or purge all grease in excess of about 1/3 of the volume available. Any excess grease should be wiped away. The space on each side of the bearing in the housing should be no more than half filled.
      This is especially important for bearings with two shields or seals, since excess grease cannot get out during operation. Bearings without the shields or seals will expel any excess grease into the free housing space outside of the bearing during operation, which is why the housing space should never be filled completely.
      Other delivery choices include single-point lubricators. Single-point lubricators provide the option of using several different greases simultaneously on a piece of machinery to compensate for different lubricant requirements precisely where and when needed.

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