SL Corporation Business Report up until FY ended Dec. 2013

Business Highlights

Highlights in recent years

Financial Overview (Consolidated)

(in million of won)
  FY ended Dec. 31, 2013 FY ended Dec. 31, 2012 Rate of
change (%)
Sales 1,241,660 1,162,486 6.8 Sales by product (FY2013)

Lamps :
622,274 million won (50.1%)

Chassis components :
457,202 million won (36.8%)
Operating income 35,300 37,144 (5.0) -
Current net income 73,724 60,118 22.6 -


-In 2011, the Company started supplying LED headlamps for the facelifted Hyundai "Genesis".

-In November 2009, the Company was selected as the company to develop a moving camera by Hyundai Mobis. The camera will be developed for Hyundai's high-end vehicle models. (From a press release on November 20, 2009)

-In October 2009, the Company was selected by Kia Motors as the company to develop a nighttime pedestrian detection system. The system will display a video image of the area in front of the vehicle taken by an infrared camera. In addition, the system can sound an alarm to warn the driver if needed. The system will be installed on high-end models manufactured by Kia Motors. (From a press release on October 7, 2009)

-In September 2009, the Company is supplying LED headlamps for the Hyundai Equus Limousine released in September 2009.

Chery Automobile
-In July 2010, the Company was awarded a contract to supply lighting products to Chery Automobile. It will supply headlamps, auto leveling systems, rear combination lamps, center high mounted stop lamps, and front and rear fog lamps, which will be produced at SL Yantai Auto Lighting Co., Ltd. in Shandong Province, China, starting in 2011. (From a press release on Jul. 7, 2010)

-In October 2009, the Company has won program business to supply headlamps to General Motors. Its headlamps will be installed on the Cadillac BT3 being manufactured at the automaker's Lansing Grand River Plant in Michigan U.S. The program, which covers a period of around eight years between October 2009 and July 2017, is expected to generate 33 million US dollars to the Company's yearly sales. (From a press release on October 17, 2009)

Establishment of new company

-The Company will establish a wholly owned subsidiary in Poland. The new company, SL Poland, will be capitalized at 2,959 million won. It will supply components such as pedals and levers to Opel. (From a press release, August 30, 2012)

-In March 2009, the Company has established Samlip GmbH in Austria in order to supply automotive parts to the Hyundai Motor's facility in the Czech Republic and Kia Motors' facility in the Slovak Republic. The new company is capitalized at 195 million won, fully invested by SL Corporation. (From a press release on March 10, 2009)

-In September 2006, the Company will establish an auto parts sales company in Slovakia to support KIA Motors, which already emerged into to the market. The name of the sales unit is SHSK ; it will be capitalized at 1.2 billion won, invested jointly by SL (51%) and HELLA (49%). (From a press release on September 11, 2006)

Merger and Absorption

-In January 2010, the Company will absorb SL Sungsan Corporation, its wholly owned subsidiary, into its own operations effective April 1, 2010. SL Sungsan is headquartered in Daegu City and produces automotive lamps. (From a press release on January 25, 2010)

-In October 2007, the Company absorbed SL Tech, its subsidiary, into its operations on October 1, 2007. Based in Gyeongsangnam-do, SL Tech mainly manufactures and sells dies used for producing lamps. (From a press release on October 1, 2007)


The Company was awarded the 2012 Supplier of the Year Award from General Motors in March 2013. This is the seventeenth consecutive year that SL wins the annual award from GM. (From a press release on March 15, 2013)


R&D Structure

-The Company established R&D center in Feb. 1986, which now has approximately 400 researchers.
-The Company owns two design engineering centers, one in Detroit, Michigan, U.S.A. and the other in Shanghai, China.
-The Company introduced technology from Hella (Germany), Stanley Electric Co., Ltd. (Japan), Delphi Corporation (USA) and other partners through technical tie-ups.


R&D Expenditure (Non-consolidated)

(in million of won)
  FY ended Dec. 31, 2013 FY ended Dec. 31, 2012 FY ended Dec. 31, 2011
Amount 23,393 19,878 14,315
% of sales 4.1% 3.4% 3.3%

R&D Activities

The Company has completed Head Up Display (HUD), Around View Monitoring System (AVM), Rear View Monitoring System (RVM) development and has prepared for mass production. Main specification of the HUD: increased readability of characters and markers through using full color LCD 480x240 Pixel and it also provides a variety of information by expanding the size of the projected image more than six inches. SL AVM is possible to supports both analog and digital video output and offers 2D and 3D view mode for driver convenience. In addition, the advantage of the RVM System is that one rearview camera can show both rear view and top view, and show two views at the same time. (From a press release on September 18, 2012)

Recent Developments

Topic Period
FY ended Dec. 31, 2013
2 LED headlamps Jul. 2012 - Jun. 2013
Digital map linked smart lamp technology Jun. 2012 - Oct. 2013
LED headlamps with multi module array Apr. 2013 - Oct. 2013
Heat dissipation technology of LED Apr. 2012 - Dec. 2013
Laser headlamp optical module Oct. 2012 - Sep. 2013
Improved the performance of LDM module for LED lamp Apr. 2012 - Dec. 2013
Turn signal mirror with new concept Jan. 2013 - Oct. 2013
FY ended Dec. 31, 2012
-LED dynamic high beams Nov. 2011 - Oct. 2012
-Multi projection headlamps Mar. 2012 - Nov. 2012
-ILR(Intelligent Light Range) headlamps Feb. 2011 - Jun. 2012
-Lane departure warning systems May 2010 - Oct. 2012
-Lane departure warning + Smart night view systems Jun. 2010 - Sep. 2012
-LED spot light systems Mar. 2011 - Oct. 2012
FY ended Dec. 31, 2011
-Dynamic high beams Mar. 2010 - Oct. 2011
-Smart E-shifts Nov. 2010 - Dec. 2011
-Multi channel smart views Mar. 2011 - Dec. 2011

Technical Agreement (Licensing-in)

Contract Period
Stant Manufacturing Inc.

Licensing-in technology to manufacture fuel tank caps

From Feb. 1992 for 20 years
Stanley Electric Co., Ltd.

Licensing-in technology to manufacture automotive lamps

From Apr. 2009 for 5 years