The Korea Association of Machinery Industry (KOAMI) is the leading industrial organization for the Korean machinery sector. KOAMI provides practical help for individual member companies and actively promotes the sector in general. KOAMI was established in 1969 as a nonprofit manufacturers' association based on the "Promotion Act for the Machinery Industry" proclaimed in 1967. The main purpose of KOAMI was to act as a unified body with the authority to speak for the industry. KOAMI's member companies are located through out the country, including the local manufacturers, importers, and distributors of machinery and ancillary equipment. The majority of members are small and medium sized enterprises (SMES) and the membership subscriptions are based on company annual turnover.