ICCH to Promote Supply to New Smart Device Companies in North America

47 Billion KRW Equipment Investment in Vietnam Subsidiary... Completion Expected in Q1 Next Year
Over 100 Billion KRW Sales Expected Through New Supply Business

[Asia Economy Reporter Hyungsoo Park] ICH announced on the 14th that it is currently pursuing a large-scale product supply to Company A in North America.

Through an investment of approximately 4.7 billion KRW in its affiliated company (ICH CUBE VIET NAM) located in Bac Giang, Vietnam, it has completed vertical integration from raw materials to final finished products. The company is expanding its customer base to include North American smart device manufacturers and display manufacturers.

By investing in facilities, it achieves vertical integration of all processes. It is laying the foundation to grow into a global materials and components company by strengthening cost competitiveness, diversifying customers, and diversifying products.

Founded in 2012, ICH initially focused on functional tape products for IT devices. It is expanding its business areas to composite material products (electromagnetic shielding gaskets) and advanced material products (film-type thin-film antennas). Over the past 4 to 5 years, it has been steadily conducting sales activities to supply basic material products and composite material products to diversify its customer base.

Kim Young-hoon, CEO of ICH, said, "Since going public, our brand value has increased and supply stability has been recognized, resulting in the success of our sales efforts."

He added, "We are currently in a position to immediately mass-produce and supply the basic material product ‘thin-film electromagnetic shielding film,’ and we plan to expand our supply business to composite materials such as gaskets and advanced material products."

Furthermore, he emphasized, "Specifically, we will complete facility investments by the first quarter of next year, which will be reflected in the first half's performance. Rapid facility construction is necessary, so we are pursuing the establishment of new raw material facility lines such as plating lines and M&A."

ICH is recording approximately 38 billion KRW in sales and a 25% operating profit margin. CEO Kim explained, "If we include sales from new customers along with sales generated from existing businesses, achieving performance exceeding 100 billion KRW is also possible."

He also said, "In addition to materials and components for smart devices, new businesses in displays, automotive electronics, and network equipment are bearing fruit, and we expect to establish a steep growth system."

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