[Click eStock] "Woojine, Establishing a Unique Business Area Among Nuclear Power Plant Equipment Companies"

[Asia Economy Reporter Jang Hyowon] On the 19th, SK Securities analyzed Woojin as a company that uniquely establishes its business area among nuclear power plant equipment suppliers. No investment opinion or target price was provided.

Woojin is a specialized company in precision measuring instruments used in various industries such as nuclear power generation, steel, and semiconductors. It mainly produces in-core nuclear instrumentation (ICI) for nuclear power plants, automation equipment in the steel sector, CMS, and temperature sensors. Additionally, it continues research and investment in Small Modular Reactors (SMR), which are gaining attention as next-generation nuclear power plants.

Researcher Namin-sik presented three reasons to focus on Woojin: ▲ monopoly in nuclear power plant instrumentation business ▲ rapid revenue recognition speed during new nuclear power plant construction ▲ additional catalyst due to SMR relevance.

Researcher Na said, “Measuring instruments are one of the components difficult to localize because they must extract accurate data inside reactors operating under high temperature and high pressure,” adding, “Woojin overcomes technological barriers and exclusively supplies domestic nuclear power plant measuring instruments.”

He continued, “The incremental revenue per nuclear power plant unit is 28 billion to 30 billion KRW, and revenue is recognized quickly over about three years after the initial concrete pouring of the nuclear power plant,” explaining, “After the initial supply, the structure is such that follow-up bidding occurs after the measuring instruments’ lifespan ends.”

Furthermore, he evaluated, “Since 2013, Woojin has participated in government projects conducting R&D on measuring instruments used in SMRs, and unlike other equipment suppliers, it has business expansion potential through SMR.”

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