Woori Technology "Subsidiary Selected as Defense Supplier for Overseas Exports by Domestic Complete Vehicle Manufacturers"

Woori Technology announced on the 20th that its wholly-owned subsidiary, Woori DS, has been selected as a supplier of military vehicles for overseas export by the leading domestic automaker, Company K. Following its existing key client Hyundai Rotem, Woori DS has succeeded in securing a major defense company as a new client through this selection for Company K’s export business, and plans to accelerate performance growth based on this.

Woori DS has completed the development of run-flat tires applied to Company K’s military vehicles for overseas export and has now been selected as a supplier. Company K is a representative domestic automobile manufacturer and military vehicle producer, actively pursuing overseas market expansion by participating in recent global defense exhibitions.

Woori DS plans to fully commence the supply of products for Company K’s overseas export market following this supplier selection. The company explained that participation in Company K’s export business is significant not only because it was recognized by the client for quality and technological capabilities but also because it secured trust, indicating a high possibility of future volume expansion.

Woori DS will supply run-flat tires applied to Company K’s military vehicles. The company independently developed run-flat tires with a unique design structure that maximizes the steering and driving performance of armored vehicles and improves tire mounting efficiency. After product development, it has been exclusively supplying Hyundai Rotem and successfully secured major defense company H as a client last year.

A Woori DS official said, “We have joined the export business based on the technological capabilities and reliability secured by supplying products applied to Company K’s small tactical vehicles,” adding, “With the new adoption of products for Company H last year and participation in Company K’s export business this year, defense business sales are expected to grow significantly from this year.”

He continued, “Not only Company K but also major domestic defense companies are expanding exports to Eastern European and Middle Eastern markets, leading to rapid growth in Woori DS’s export performance since last year,” and added, “We will continue to maximize performance through continuous new product development and pioneering new markets in the future.”

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