The South Korean press manufacturer, SIMPAC, founded new subsidiary, SIMPAC America, in Troy, Michigan. The new location's leadership team is led by President Yonghwan Kim, who is tasked with the development, construction, sales, and marketing of presses for the North American metal forming industry.

SIMPAC America's main objectives include direct market support and the development and expansion of a comprehensive service network for SIMPAC customers from various branches of the North American metal forming industry: automotive manufacturers and suppliers, manufacturers of household appliances and goods, companies in the furniture and electronics industries, and the military and aerospace industry.

Founded in 1973, SIMPAC holds almost 50% of the market share in its home market of South Korea. Since 2004, over 10 sales and service branches were established in Asia, Europe, the United States, and Mexico – marking the company's footprint as a global leader of metal forming technology.