[Featured Stock] Hyunwoo Industry Secures 8 Trillion KRW Order from LG Electronics Vehicle Components Business, Projects 65 Trillion KRW by Year-End... Strong Supply of Vehicle Parts to LG Increases

[Asia Economy Reporter Jang Hyowon] Hyunwoo Industry is showing strong performance following news that LG Electronics secured new projects worth 8 trillion KRW in the first half of this year. Hyunwoo Industry is known to supply automotive parts to LG Electronics.

As of 10:33 AM on the 5th, Hyunwoo Industry is trading at 4,140 KRW, up 285 KRW (7.39%) compared to the previous trading day.

According to LG Electronics on the same day, the VS Business Division recently secured orders for infotainment (IVI) systems from a global automaker owning multiple European premium car brands, as well as 5G high-performance telematics systems from a major Japanese automaker.

The approximately 8 trillion KRW in new orders LG Electronics achieved in the automotive parts business during the first half of the year exceeds 13% of the order backlog of about 60 trillion KRW as of the end of last year. LG Electronics expects the total order backlog to surpass 65 trillion KRW by the end of the year.

Meanwhile, Hyunwoo Industry manufactures PCBs (printed circuit boards) used in various digital home appliances such as LCD, LED, and OLED, as well as automotive electronics (AUTO).

Hyunwoo Industry’s automotive PCBs are reportedly supplied to automakers through LG Electronics’ business divisions and Hyundai Capico.

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