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5. ILJIN Co., Ltd. Business Report FY ended Dec. 2016

ILJIN Co., Ltd. Business Report FY ended Dec. 2016

Highlights in Recent Years

Investments in Korea

-ILJIN Global Co., Ltd., a subsidiary of the ILJIN Group, signed an agreement with the city of Jecheon (Chungcheongbuk-do) to establish a new plant. The plant, which will serve as the company's third production base, will be constructed on a 135,930 square meter plot that ILJIN will acquire in Jecheon. Investment in this project is expected to reach KRW 101.3 billion. (From a press release on January 22, 2015)

-Bearing Art Corporation of ILJIN Group will begin in July 2014 an expansion work of its Yeongju Plant in Gyeongsangbuk-do. The plant, which has been completed in June 2013, currently has a total floor space of 49,000 square meters. The expansion will enlarge it by 59,000 square meters. (From a press release on July 14, 2014)

-Iljin Global in the Iljin Group has signed an agreement with the city of Jecheon in Chungcheongbuk-do to acquire 21,393 square meters of land at the Jecheon Industrial Zone. The land will be used to expand its existing plant. (From a press release, August 13, 2013)

Investments Outside Korea

-ILJIN Alabama Corp., a U.S. unit of the ILJIN Group, announced that it will expand its bearing plant. The Alabama subsidiary will invest KRW 15.8 million in this project to produce products for General Motors and Ford Motor, from which it won new contracts. The facility currently supplies bearings to Hyundai Motor's and Kia Motors' plants in the U.S. (From a press release on December 12, 2014)

Contracts

-The Group is supplying ball joints for Chrysler's Jeep Cherokee SUV. The company provided ball joints for 240,000 Jeep Cherokees during 2013, which added approximately KRW 3.4 billion to the Group's sales. ILJIN has also won contracts to supply ball joints to the Chinese facilities of Fiat and Chrysler, starting by 2016. (From a press release on December 31, 2013)

New Plant

-The Company has announced the grand opening of its second plant in China. The new wheel bearing plant in Tianjin supplies wheel bearings to Shanghai GM in Shanghai, Chery Automotive in Wuhu and BBDC in Beijing. The 257,000 sq. ft. plant, built at cost of 36 million USD, includes forging and machining operations for production of its Gen.2 and Gen. 3 double-row, angular-contact ball bearings. (From a press release on July 7, 2008)

New Companies

-The Group establish a new company called Bearing Art Corporation in Gyeongju, Gyeongsangbuk-do. The new company plans to invest approximately 300 billion won in order to set up a manufacturing facility for automotive bearings. (From a press release on December 6, 2011)

-In October 2012, ILJIN USA Corporation absorbed ILJIN America Corporation.
-In September 2010, the Group established ILJIN Alabama Corporation in Alabama to manufacture wheel bearings.
-In February 2008, ILJIN Global established ILJIN America Corporation in South Carolina to manufacture bearings.

-In April 2008, ILJIN Global established ILJIN GmbH in Nuremberg as the Group's R&D base in Europe.


-In November 2006, the Company established Tianjin ILJIN Automotive Systems to manufacture and sell wheel bearings and carriers in China. The new Company is capitalized at 39 million yuan, which was wholly provided by the Company.

Change of corporate name

- In August 2008, Dong-A Automotive changed its corporate name to ILJIN Corporation.

Transfer of shares

-In 2007, ILJIN Bearing sold all the shares it held in Beijing ILJIN Automotive Systems, its wholly owned subsidiary, to Dong-A Automotive (Currently ILJIN Corporation) for 22,569 million won..

R&D Structure