Korea Electric Terminal Co., Ltd. Business Report FY ended Dec. 2013
Business Highlights
Financial Overview (Consolidated) |
(in millions of won) |
FY ended Dec. 31, 2013 | FY ended Dec. 31, 2012 | Rate of change (%) |
Remarks | |
Sales | 566,022 | 482,862 | 17.2 | Sales breakdown (Ratio) -Automotive connectors : 376,094 million won (66.4%) -Fuse boxes & junction boxes 16,260 million won (2.9%) |
Operating income | 52,525 | 47,133 | 11.4 | - |
Net income | 43,018 | 29,907 | 43.8 | - |
New Plant
<North Korea>
-In November 2008, the Company established Gyeongwon Industry Co., Ltd. in the Kaesong Industrial Complex.
-The Company announced that it will invest a total of 6 million US dollars to construct a new plant to assemble connectors in the Kaesong Industrial Complex in North Korea. The new plant will be set up on 7,965 square meters of land. It is scheduled to be completed in May, 2008. The Company plans to complete construction in May, 2008, planning to achieve increased cost efficiency through this project. (From a press release on September 3, 2007)
New business
-The Company will launch operations in the field of lead frames for LEDs. It will invest 25 billion won to set up a new facility in Paju City, Gyeonggi-do. The new facility will carry out operations from development up to production. Commercial production is scheduled to begin in September 2009, with a monthly production capacity of 500 million units. The new business is expected to add 40 billion won to the company's annual revenues. (From a press release on July 6, 2009)Divestiture
-In May 2007, the Company sold off its production facility in Namchon, Incheon.R&D
R&D Structure
-The Company announced that it will double the development capacity at its R&D center in Incheon in order to develop hybrid products and other components at the facility. The company is ready to invest some 14 billion won in this project. (From a press release on July 2, 2007)- In July 1997, the Company established its Central Research Center in Incheon City, Korea. In July 2004, it moved this facility to the Songdo Techno Park in the same city.
R&D Expenditure |
(in millions of won) |
FY ended Dec. 31, 2013 | FY ended Dec. 31, 2012 | FY ended Dec. 31, 2011 | |
Amount | 25,376 | 18,477 | 16,787 |
% of Sales | 4.5% | 3.8% | 3.7% |
Technical Alliances
-In November 2008, the Company and Yazaki Corporation renewed the partnership agreement.
-In February 1998, the Company and Yazaki Corporation signed a comprehensive tie-up agreement to collaborate in the area of production, sales and technology for connectors.
Recent Developments
Products | Vehicle model in which the Company's products are used |
FY ended Dec. 31, 2013 | |
060 12M PCB assemblies | Hyundai's medium-size vehicles |
060 22M connectors | Hyundai's small-size vehicles |
375 2M PCB assemblies | Kia's medium-size vehicles |
02506010 65P assemblies | Hyundai's medium-size vehicles |
060 18M PCB assemblies | Hyundai's medium-size vehicles |
FY ended Dec. 31, 2012 | |
Fuse & relay boxes | Hyundai's SUVs |
025060110 46P connectors | Hyundai's medium-size vehicles |
Terminal block assemblies | Hyundai's electric vehicles |
Rear combination lamp wire harnesses | Kia's medium-size vehicles |
Head lamp wire harnesses | Kia's medium-size vehicles |
060 WP 6M rear lamp assemblies | Kia's SUVs |
FY ended Dec. 31, 2011 | |
Multi fuse 2P | Hyundai/Kia's small-size vehicles |
GM T300 BFT 1P, 4P | GM's small-size vehicles |
630 WP 3F connectors | GM's small-size vehicles |
Stick ignition coil 2M assembies | Hyundai/Kia's large-size vehicles |
HE PHEV(HEV) PRA | Hyundai/Kia's hybrid vehicles |
HCU, BMS | Hyundai's commercial vehicles |
3 pin fork terminals | Hyundai's medium-size vehicles |
FY ended Dec. 31, 2010 | |
HE/KE power relay assemblies | Hyundai/Kia's electric vehicles |
GRE/GFE BDU | GM's medium-size vehicles |
060 10P connectors | Hyundai/Kia's all models |
120 cavity plug connectors | Hyundai/Kia's all models |
025040 18M PCB connectors | Hyundai/Kia's medium-size vehicles |
DT 2P connectors | Hyundai/Kia's medium-size vehicles |
064 6M PCB connectors | GM's all models |
025 12P connectors | Hyundai's small- and medium-size vehicles |
Headlamp connectors | Hyundai's electric vehicles |
Investment Activities
Investment
-In August 2013, Gyeongwon Electronics Co., Ltd., a subsidiary of the Company, has established a new plant to produce automotive connectors at the Pyeongdong General Complex in Gwangju City. The facility has a building area of 3,496 square meters on 6,612 square meters of land. (From a press release, August 29, 2013)-In FY ended Dec. 31, 2008, the Company expanded its plant in Gwangju, newly installing a 30-ton stamping machine and a 40-ton stamping machine.
-In September 2007, the Company announced that it will invest a total of 6 million US dollars to construct a new plant to assemble connectors in the Gaesung Industrial Complex in North Korea. The new plant will be set up on 7,965 square meters of land. It is scheduled to be completed in May, 2008. The Company plans to complete construction in May 2008, planning to achieve increased cost efficiency through this project. (From a press release on September 3, 2007)