Mark Waterman, Electronics Division Manager, ECD

In 2023, the manufacturing industry faced challenges from inflation and economic uncertainty. Despite this, the sector remained resilient, especially among middle-tier players embracing automation and reshoring. Mexico continued to thrive as a manufacturing hub, driven by geopolitical factors, supply chain security, and sustainability demands.

Koh Young, known for customer-focused innovation, maintained its commitment amid the challenges. In 2024, the company plans to introduce innovations aimed at enabling customers to produce more and better products without significantly expanding their workforce.

These innovations involve advancements in inspection leadership and a holistic, creative approach to software, including progress in artificial intelligence. The supply chain crisis significantly affected customers, but Koh Young successfully navigated it, emphasizing supply chain resilience and offering flexible manufacturing solutions.

Looking ahead to 2024, the focus is on operational efficiency, given the talent shortage in the USA and central Europe. Efforts to attract younger talent to the industry are crucial for sustaining the manufacturing renaissance. Despite the challenges, there's optimism for 2024, anticipating a strengthened industry poised for expansion in 2025.

The increasing digitalization across industries, rising demand for electronic products, and growth in technologies like AI, electric vehicles, medical electronics, and renewable energy contribute to this positive outlook. Koh Young remains committed to innovation and continued support for the industry.