ILJIN Co., Ltd. Business Report FY ended Dec. 2019

Highlights in Recent Years

Financial Overview (Non-consolidated)

(in millions of won)
FY ended Dec. 31, 2019
ILJIN
Bearing
ILJIN
Global
ILJIN Bearing
Art
Sales 269,841 444,835 799,094 421,561
Operating income 9,528 89,536 44,072 22,340
Net income 15,239 59,484 68,568 15,088

 

Development of EV Suspension Arm

-Iljin Co., Ltd. (Iljin), a South Korea-based major wheel bearing maker, announced that it has developed a new electric vehicle (EV) suspension arm utilizing plastics. The new product, which is made of steel and plastics, is 15% lighter than press-formed steel suspension arms. The company received material and structural analysis support from Germany-based BASF SE, and the achievement of practical use is in sight. Iljin will offer the new suspension arm to automakers that are improving EV travel distance. The company adopted reinforced polyamide plastics that contain glass fiber 50% for the arm body (other than the arm connection base) to realize weight reduction and high strength. It also adopted plastics for ball joints that connect the steering mechanism and the arm in order to reduce frictional resistance and improve steering operability. Iljin aims to rationalize production, for example, by means of the introduction of one-shot injection molding, and improve cost competitiveness. (From an article in the Nikkan Jidosha Shimbun on May 10, 2018)

 

R&D Structure

Facility Location Company
Technical Research Center for bearings Gyeongju,
Gyeongsangbuk-do
ILJIN Bearing
Technical Research Center for chassis Gyeongju,
Gyeongsangbuk-do
ILJIN Corporation
Technical Research Center (U.S.A.) Michigan,
USA
ILJIN USA Corporation
Technical Research Center (Germany) Nurnberg,
Germany
ILJIN GmbH

R&D Expenditure (Non-consolidated)

(in millions of won)
FY ended Dec. 31, 2019
ILJIN
Bearing
ILJIN
Global
ILJIN Bearing
Art
Amount 9,378 14,464 18,143 8,703
% of sales 3.5 3.3 6.1 2.1