Republic of Korea

Mike Cho started his company just five years ago with very limited capital. After a period of strong growth that gave Korean Hydraulic Machinery (KOMAC) niche market dominance, the Korean government cited Cho this year for his business acumen.

"I started Korean Hydraulic Machinery in 1997 with $2,500 dollars," begins Mike Cho, managing director of KOMAC, looking out from his office in the Shihwa Industrial Complex outside Seoul. Today ,the company is poised to become the world's number one manufacturer of boom mounted hydraulic breakers. With a current annual turnover of $10 million, KOMAC has come a long way in a remarkably short period of time.

Operating under a strategy that prioritizes external growth, the company has a sales network that spans more than 40 countries, offering the reliable service for which KOMAC has become known around the globe.
Mike Cho, managing director of KOMAC

"Using subcontractors and outsourcing, along with heavy investment in research-and-development (R&D), we are able to produce some of the worlds most reliable breakers while still being one of the most price competitive," continues Cho. "The KOMAC brand must be one that customers trust and respect, a product that will do the job most efficiently and at minimum cost to the client."

Keen to expand its impact around the globe, KOMAC has been releasing a steady stream of new products to markets in Europe, the Middle East, Asia, and America. Its crushers, grapplers, hoist lifts and skid steer loaders continue to leave an impressive mark on the construction and mining industries in every market approached so far.

"We established KOMAC Sales USA in 2001, and just this year established KOMAC Sales CHINA - where we hope to have at least 15 percent of the market soon," says Cho, recently awarded the 'Best Businessman' award by Korean President Kim Dae Jung. "This strategy may seem ambitious to some, but here at KOMAC we have no doubt it can be achieved."

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