erae Automotive Systems Co., Ltd.  Business Report FY ended Dec. 2014

Financial Overview (Consolidated)

(in millions of won)
FY ended Dec. 31, 2014 FY ended Dec. 31, 2013 Rate of change (%)
Sales 1,141,824 1,249,367 (8.6)
Operating income (14,710) 30,368 -
Net income (15,578) 29,713 -

New Subsidiary

-The Company and the Electronics and Telecommunications Research Institute (ETRI) have jointly established eKdac to develop smart sensors and Advanced Driver Assistant Systems for intelligent vehicles. Annual sales at the new company are expected to reach KRW 100 billion by 2020. (From a press release on December 17, 2014)


-The Company received the FY 2014 Toyota Quality Award from Toyota Motor Engineering & Manufacturing North America, Inc. in March 2015. The award was given for the Company's SP-15 compressors that were supplied to Toyota North America and achieved zero ppm in 2014. Approximately 1.8 million units of Korea Delphi's compressors were supplied for the Tacoma pickup trucks between June 2004 and April 2015. During the next five years from June 2015, Korea Delphi expects to supply 720,000 units of its CSP-15 compressors for the successor to the Tacoma. (From a press release on April 29, 2015)

-The Company received the 2014 Supplier of the Year from General Motors of the U.S. The award was given for its thermal system division's significant contribution to the automaker. This is the fourth time that the company has won this award following its achievements in 2006, 2012, and 2013. (From a press release on April 17, 2015)

-The Company wins SsangYong Motor's 2013 Excellent Supplier Award at the automaker's Supplier Conference. This is the fifth time that Delphi Korea wins the award, following its achievements in 2004, 2005, 2008 and 2012. The company is currently developing products for SsangYong Motor's new compact SUV (development code: X100) scheduled for release in 2015. (From a press release on March 14, 2014)

-The climate control division of the Company has received General Motors' Supplier of the Year 2013. The award recognizes Korea Delphi’s advanced technology and high-quality products it developed for and supplies to the automaker. The Division has won this award for two consecutive years. (From a press release on February 4, 2014)

R&D Structure

-In May 1998, the Company established a technical center in Daegu.

Agreement on Technology Introduction

Partner Product
Delphi 58mm evaporators, MT-34 ECM, etc.
NTN (Japan) FTJ (low vibration constant velocity joint) axles
Hitachi (Japan) P32M front caliber brakes

Investment outside Korea

-The Company announced that it will establish a new plant in Tolyatti, Russia jointly with a Russian company. The joint venture will produce radiators, condensers and engine cooling modules for automakers such as AvtoVAZ, GM-AvtoVAZ and Ford. The new company's sales are expected to reach KRW 221.3 billion by 2020. Investment in the joint venture is estimated to reach KRW 7.9 billion. (From a press release on January 21, 2014)

-In November 2013, Changshu KDAC Co., Ltd., the Chinese subsidiary of the Company, held a ceremony to mark completion of its Changshu second plant. The new plant covers 3,888 square meters and will produce brakes and other components. Production of steering columns for the D2UX platform of General Motors is scheduled to begin in October 2014. The existing plant will be focused on producing electronic and electric components. (From a press release, November 20, 2013)