Fanstar Enterprise Builds Advanced Factory for Hesbone Division in Gimpo

Dominating 70% Market Share in Domestic Maintenance Lifts
Enhancing Work Efficiency with Production Facility Relocation and Latest Equipment
Plans to Expand Electric Vehicle Dedicated Maintenance Equipment Business

On the 24th, the completion ceremony of the Panstar Enterprise Hesbone Division Gimpo Factory was held in Tongjin-eup, Gimpo-si, Gyeonggi-do. Photo by Honam Moon munonam@

[Asia Economy Reporter Nam Seung-ryul]

Panstar Enterprise, a KOSDAQ-listed company specializing in automobile maintenance equipment manufacturing and cruise business, held a completion ceremony for a new factory of its automobile maintenance equipment division (HESBON) on the morning of the 24th in Tongjin-eup, Gimpo City. About 100 people, including Kim Hyun-kyum, chairman of Panstar Group, executives, employees, and guests, attended the ceremony. Panstar Group is a comprehensive shipping and logistics group with eight affiliates, including Panstar Enterprise, Panstar Tech Solution, and Panstar Line.com. Last year's sales reached 300 billion KRW. Kim Hyun-kyum, chairman of Panstar Group, said, "Without manufacturing, shipping companies would hardly exist," adding, "Although Panstar's main focus is shipping and logistics, I have always dreamed of trying manufacturing, and I am proud that HESBON is performing well not only domestically but also in overseas markets."

HESBON, acquired by Panstar in 2015, was established in 1991. It develops and produces various automobile maintenance equipment, including its main product, maintenance lifts, refrigerant chargers, tire changers, gas (exhaust) analyzers, tire wheel balancers, and air compressors. Its domestic market share for maintenance lifts reaches 70%. The company exports products to over 40 countries, including the United States, Japan, Europe, and New Zealand. In particular, in New Zealand, it competes with American and European brands, holding a market share in the 40% range. This success is the result of dedicated research and development at its affiliated research institute. It was the first in the domestic industry to obtain the Q Mark for lifts and also developed the X-type lift first. It has acquired the CE Mark, a European safety standard, and holds about 60 patents, utility models, and design registrations.

At the completion ceremony of the Panstar Enterprise Hesbone Division Gimpo Factory held on the 24th in Tongjin-eup, Gimpo-si, Gyeonggi Province, Kim Hyun-kyum, chairman of Panstar Group, is delivering a commemorative speech. Photo by Moon Ho-nam munonam@

The newly built factory by Panstar Enterprise, with an investment of 15 billion KRW in land acquisition and equipment, covers an area of 14,850㎡ (4,500 pyeong), larger than the previously leased Incheon factory (12,540㎡). It is equipped with state-of-the-art facilities. Instead of internal combustion engine forklifts, the factory introduced an unmanned electric cart system using magnets and cargo lifts, establishing an environmentally friendly and efficient production facility that also considers worker safety. In particular, the latest painting machines that minimize environmental pollutant emissions have been installed.

Panstar Enterprise, which recorded sales of 23 billion KRW from the HESBON division last year, plans to actively expand its electric vehicle (EV) dedicated maintenance equipment business in line with the eco-friendly trend, coinciding with the completion of the new factory. Choi Young-hak, CEO of Panstar Enterprise, said, "The new factory enhances production efficiency through facility relocation and the introduction of the latest equipment, and expands product storage space to respond quickly to customer orders," adding, "We will focus on developing new technologies differentiated from competitors' products and strive to become a leading company in the global market."

Karift, the flagship product of Fanstar Enterprise Hesbone Division. Photo by Mun Honam munonam@

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