SM Precision Technology Records 10 Billion KRW in Half-Year Sales Five Years After Joining SM Group

SM Group (Chairman Woo Oh-hyun) manufacturing division affiliate SM Precision Technology announced on the 5th that it has grown into a company recording sales of over 10 billion KRW in the first half of the year, five years after joining the group.

SM Precision Technology's sales from January to May this year reached 9.6 billion KRW, a remarkable 275% increase compared to the same period last year. Although the company has not yet completed its first-half financial closing, based on the current trend, it expects sales to exceed 10 billion KRW by the end of June.

The key drivers behind the company's sales growth include ▲ synergy with the group's affiliate Namsun Aluminum's automotive division ▲ increased production efficiency ▲ expanded volume from original equipment manufacturer (OEM) clients such as Hyundai Motor and Kia.

Since incorporating the financially struggling SM Precision Technology into the group in 2018, SM Group Chairman Woo Oh-hyun has transformed it into a solid company generating hundreds of billions in sales by strengthening technological competitiveness and creating synergy among affiliates. Chairman Woo has emphasized that quality is the foundation for a company to survive in the market and has urged all SM Group affiliates to become companies that compete through innovation and quality.

Jung Soon-won, CEO of SM Precision Technology, stated, “We will not be satisfied with just expanding orders from existing major clients such as Hyundai Motor and Kia. For sustainable future growth, we will accelerate the expansion of our business areas in the electric vehicle sector and increase overseas OEM clients.”

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