'JOON TEC Inc.', developing new products using technologies possessed by university
Selected for 'Direct Commercialization Support Project' by the Small & Medium Business Administration, and received 1 billion won in national funding for 3 years
[June 4, 2012]

 YU (president Lee, Hyo-soo) launched a joint venture with a local company and is in the limelight as a successful model for industry-academic cooperation.

 According to YU on the 4th, AJIN Industrial Co. Ltd. (CEO Seo, Jung-ho), an automobile press parts company and the YU Office of Research Cooperation Foundation launched the joint venture 'JOON TEC Inc.'. Through this, new technologies developed by YU will be utilized for Ajin Industrial's manufacture of new products in the industry-academic cooperation system. JOON TEC is a company that provides technological services for the mold parts industry such as mold analysis and mold development, and its sales goal is 50 billion won by 2020.

 JOON TEC has also procured up to one billion won in support for 3 years from the Small & Medium Business Administration(SMBA). This is because the new technology developed proprietarily by YU, 'Development of Stamping Mold Technologies for Optimization of Mold Processes and Cost Cutting' was selected as the SMBA's 'Direct Commercialization Support Project for Technologies Possessed by Universities and Research Institutes'.

 
 Founders of 'JOON TEC Inc.', a joint venture between YU and Ajin Industrial (from left to right: Yang, Min-a, Lee, Seung-yeob, Professor Shim, Hyun-bo, Lee, Won-chan, General executive of Ajin Industrial)

 As a substitute for past mold development methods that depended on prior experience, this technology is based on mold analysis in order to minimize loss of raw materials. When taking into consideration the press industry, in which the materials expenses account for 70% of the product cost, by calculating the optimal injection amount of materials and standardizing quality, it minimizes excessive use of materials that would be lost, while also reducing defective products. This method is expected to optimize the quantity of injected materials, reduce the development and delivery time, remove variables through optimization of mold processes, reduce the mold development period and reduce the defect rate by standardizing quality.

 Lee, Seung-yeob (25), a senior at the YU School of Mechanical Engineering, who conducted the R&D of this technology, stated, "I was interested in assembly and design from my early childhood because of my father who ran an automobile parts manufacturing factory. Last year, I saw the engineering assignment and became very interested so I teamed up with five other students and participated in it." He added with a big smile, "We had many trials-and-errors, but we visited plants and met people who actually work there so we were able to learn many things that we could not in classrooms. I am especially happy because we were able to succeed in this difficult assignment my applying the solution methods suggested by our professor. I feel a great sense of accomplishment because I was able to find something that I want to do and that I am good at."

 Yang, Min-a (21), a senior and the only female student in the project team, said happily, "I did not expect our research that was made based on theoretical knowledge that we learned in classrooms and practical knowledge that we learned at the actual workplace to result in the founding of a company."

 
 Professor Shim, Hyun-bo (53, School of Mechanical Engineering), who was appointed as the CTO (Chieft Technological Officer) of JOON TEC, stated, "We have been actively engaged in industry-academic cooperation projects with Ajin Industrial since 2007. From August of last year, we worked on an engineering project titled 'Improving the Automobile Wheel Housing Mold Process' with five undergraduate students. In result, we found the solution for minimizing defect rates and the use of materials." He proudly added, "My students who worked hard to meet the goal of 'optimization' and to improve problems are the true founders of JOON TEC."

 Lee, Won-chan, General executive of Ajin Industrial, who was directly involved in the founding of the company also stated with high anticipation, "Based on the trust we have made with YU, we will manifest greater synergy effects in order to establish this as a win-win model which both the university and company benefits from."

 Meanwhile, Ajin Industrial, which was established in 1976, is a company that specializes in automobile parts and a primary vendor for Hyundai Motors. It is a strong middle-sized company of the region that total sales of 400 billion won together with its subsidiaries Woosin Industrial and Ajin USA. YU has operated internship programs since 2007 and from 2010, overseas work experience agreements were made to select about 5 undergraduate students every semester to go to Ajin USA located in Alabama, the US. The two has continuously pursued industry-academic cooperation projects.