Sewon Secures Orders Worth 25 Billion KRW in North America

[Asia Economy Reporter Hyunseok Yoo] Sewon announced on the 17th that it secured orders worth a total of 25 billion KRW in the North American region last year and plans to expand the supply of header condensers over the next five years.

A Sewon official stated, “We have expanded the supply of other parts to global customers such as Tesla and Ford, including the North American region,” and added, “We succeeded in securing orders for header condensers worth a total of 25 billion KRW in the North American region last year, started the first mass production from July, and with the full-scale production of products through the Mexico corporation, we expect performance growth this year as well.”

Sewon mainly produces header condensers, radiator caps, evaporators, and other core parts of automotive air conditioning systems. With the industry’s only automated production process equipment, considered one of the core technologies, it possesses high productivity and cost competitiveness, and plans to aggressively respond to the increasing demand for parts, including thermal management systems for electric vehicles.

On the 14th, IAE acquired an additional 410,000 shares of Sewon to maximize synergy in the electric vehicle business. Since IAE is the 100% shareholder of Acent, the largest shareholder of Sewon, IAE is effectively interpreted as the largest shareholder of Sewon. The total shareholding ratio, including shares of related parties and convertible bonds, is 35.8%. The two companies plan to expand strategic cooperation related to next-generation automobile businesses such as electric vehicles and hydrogen vehicles.

This content was produced with the assistance of AI translation services.