Woojin Achieves Operating Profit of 13.8 Billion KRW in First Half of the Year: "Record Highest Half-Year Performance"

by Ryu Hyunseok

Published 12 Aug.2024 15:14(KST)

Industrial precision measuring instrument specialist Woojin announced on the 12th that its consolidated operating profit for the first half of the year reached 13.8 billion KRW, a 16.0% increase compared to the same period last year. This marks the highest operating profit ever recorded for a half-year period.

During the same period, Woojin's sales amounted to 75.2 billion KRW, up 16.8% year-on-year. For the second quarter, consolidated sales and operating profit were 39.5 billion KRW and 8.3 billion KRW respectively, representing increases of 20.8% and 15.8% compared to the same quarter last year.

The strong first-half performance of Woojin is mainly attributed to increased supply of core measuring instruments driven by the expansion of domestic nuclear power plant operations. Woojin’s flagship products are exclusively supplied to nuclear power plants, and due to the nature of regular replacements, the expansion of nuclear power plant operations leads to increased supply volumes. Additionally, Woojin expects to secure long-term additional growth momentum in related sectors as the Small Modular Reactor (SMR) market develops. Woojin is actively participating in the Korean SMR development project and national research initiatives.

Expansion of overseas orders for nuclear power plants also positively impacts Woojin’s performance growth. Since Woojin exclusively supplies customized measuring instruments for the Korean standard reactor, additional sales channels can be expected when overseas nuclear power plants, including those in the Czech Republic, are secured.

A Woojin representative stated, “The strong first-half performance is due to increased deliveries of core measuring instruments for nuclear power plants driven by the expansion of domestic nuclear power plant operations,” adding, “As the government is actively promoting industrial development policies to restore the nuclear power ecosystem, we will continue to grow based on our unique position in the measuring instrument sector.”