UDM Tech announced on the 6th that its 'Machine Language Processing-based Integrated Digital Manufacturing Platform' was selected as a 'Recommended Target for Offset Trade in the Industrial Cooperation Field' supported by the Ministry of Trade, Industry and Energy in the second half of 2024.
Offset trade is a form of trade in which the purchasing country demands certain obligations, such as technology transfer, local production, and investment, from the selling country in order to secure economic benefits for its own country in large-scale arms transactions between countries.
As the scope of items eligible for defense offset trade has expanded from military supplies to general goods recommended by the Minister of Trade, Industry and Energy, the Ministry of Trade, Industry and Energy selects and manages recommended items for both civilian and military use in cutting-edge strategic industries such as aerospace, electrical and electronics, and AI, and provides opportunities such as promotional activities and export consultations to foreign companies eligible for offset trade.
The target for offset trade recommendations is selected as a candidate by evaluating ▲ technological excellence ▲ suitability ▲ company capabilities ▲ export ripple effects ▲ policy conformity, etc., and after deliberation by the Ministry of Trade, Industry and Energy's working committee, the final target is selected, registered, and managed, and recommended to the Defense Acquisition Program Administration.
UDM Tech is discussing cooperation plans through meetings with related U.S. defense industry companies, as its 'machine language processing-based integrated digital manufacturing platform' can be utilized not only in the traditional civilian manufacturing industry but also in the military sector that uses automated systems, for predictive maintenance, and for anomaly detection and root cause identification in automated systems. The company is also making every effort to secure certification and security systems.
UDM Tech anticipates that machine language processing technology will be an essential technology for the intelligent industrial society that is being automated in all directions, and based on existing manufacturing cases, it will pursue a cross-sector approach strategy targeting automation systems in various non-manufacturing industries. The company stated that the final selection of recommended items for offset trade will be a good opportunity to accelerate its entry into the global defense market.
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