MZ Solution Completes Establishment of Vietnam Local Corporation... Core Component Production for Global TV Manufacturers

MGN Solution announced on the 25th that it has completed the establishment of a production subsidiary in Vietnam for the mass production of coil magnetic components.

MGN Solution is currently accelerating the installation of equipment at its coil magnetic component manufacturing plant located in the Long An Kizuna Industrial Complex in Vietnam.

According to MGN Solution, coil magnetic components such as inductors and transformers are key parts used in all TV products and home appliances. They play the role of distributing the power supplied to the product to operate it.

Previously, MGN Solution signed a business cooperation and joint research and development agreement with Musem, the global No.1 TV manufacturer’s development vendor. Musem develops and manufactures coil magnetic components such as inductors and transformers through its own patents and supplies them to Samsung Electronics, LG, TCL, and others.

MGN Solution plans to jointly use Musem’s patents and technology and supply coil magnetic components to global TV manufacturers.

A company official said, “Demand is continuously increasing in the global TV market where product slimness and high performance are required,” adding, “Musem and our company are the only companies capable of customized manufacturing and supply of coil magnetic components for all TV products.”

He continued, “The global TV market size this year is estimated at approximately KRW 123.9 trillion, and especially the shipment volume of ultra-large TVs over 85 inches has increased nearly tenfold last year compared to 2019, with premium demand centered on ultra-large products steadily increasing.”

MGN Solution is continuously searching for sites for future additional expansion following the Vietnam factory. It also plans to continuously expand its business area to the global home appliance market as well as TVs.

A company official said, “Based on references and customer trust related to coil magnetic components for TVs, orders for parts for home appliances have recently become visible,” adding, “We will produce positive results in the near future.”

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