Airute "Woojin Gijeon Surpasses 100 Billion Won in Orders for First Half of the Year... Expected Benefits from Increased Orders in Renewable Energy Sector"

[Asia Economy Reporter Hyunseok Yoo] A-Route announced on the 15th that its affiliate Woojin Gijeon achieved orders worth 104.1 billion KRW in the first half of this year. This is a 35% increase compared to the same period last year (77.3 billion KRW).

Woojin Gijeon actively conducted sales activities in the renewable energy industry, recording approximately 29 billion KRW in orders in the renewable energy solutions sector, including floating solar power and offshore wind power. They are discussing the introduction of hydrogen fuel cells with Toshiba Energy & Systems & Solutions, so rapid growth is expected in the renewable energy solutions sector in the future.

In the power quality solutions sector, including Automatic Voltage Compensation (AVC) and Uninterruptible Power Supply (UPS), they also achieved about 27 billion KRW in orders. This is due to active factory expansions and facility investments in front-end industries centered on semiconductors, displays, and bio.

A Woojin Gijeon official said, “To respond to the semiconductor supply shortage, related companies are expected to advance some of the facility investments planned for next year to the second half of this year,” adding, “Following the first half, an increase in orders is expected in the second half, mainly in industries such as semiconductors and displays.”

He continued, “The Green New Deal policy is also expected to involve large-scale government-led financial investments, so an increase in orders in the renewable energy solutions sector is anticipated in the second half,” adding, “Considering these overall market conditions, the company’s total orders for this year are expected to grow by more than 30% compared to last year.”

Founded in 1984, Woojin Gijeon is an integrated power platform company that distributes industrial power equipment and provides total power solution services. It has over 300 clients, including major corporations such as Samsung, SK, and LG, in front-end industries like semiconductors, displays, and renewable energy.

A-Route acquired 30.7% of the shares of Woojin Holdings, which owns Woojin Gijeon, from its subsidiary (Gionix) in June. In December last year, it invested in a private equity fund that acquired convertible bonds (CB) of Woojin Holdings and secured a call option to purchase all the CBs. If A-Route exercises this call option in the future, it is expected to secure management rights of Woojin Gijeon.

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