THN Corporation Business Report up until FY ended Dec. 2013

Business Highlights

Highlights in Recent Years

Financial Overview (Consolidated)

(in millions of won)
FY ended Dec. 31, 2013 FY ended Dec. 31, 2012 Rate of
change (%)
Sales 225,496 162,925 38.4 -
(20,564) (12,347) - -
(26,701) (10,089) - -


-In January 2013, the Company established THN Paraguay S.A. to produce wire harnesses in Paraguay. The new company is owned 90.6 percent by THN Auto Parts Manufacturing Brasil S.A. and 9.4 percent by JSN Corporation. Its production facility will be constructed in Itaugua City. (From a press release August 29, 2013)

-The Company established THN Auto Parts Manufacturing Brasil S.A. in Brazil. Starting in September 2012, the new company will supply wire harnesses to the new Brazilian plant of Hyundai Motor.

-In October 2011, the Company acquired a 40 percent share in Weihai Rixon Electronic Assemble Co., Ltd., which manufactures wire harnesses in Weihai City, Shandong Province.

-In Janudary 2007, the Company and a Chinese firm jointly established Liaoning Samwon Industrial Electrics Ltd. in Liaoning Province. The new company is held 82.8 percent by the Company, and the remaining 17.2 percent by the Chinese partner.

-In July 2006, the Company and Daewon Cable of Korea established Qingdao D.H Cables Ltd., a joint venture company in China, on a 50-50 basis. The new company manufactures automotive wire harnesses. 

-In July 2004, the Company established Qingtao Samseung Industrial Electrics Ltd. in Qingdao, a wholly owned company in China. The new company manufactures automotive wire harnesses.  


-The Company is supplying its parts for the Hyundai "Santa Fe", "Tucson ix", "Genesis Coupe", "Avante XD" and "Veloster".


R&D Structure

-In October 1989, the Company set up a technological research center in Daegu City. This facility was later transferred to Cheongju, Chungcheongbuk-Do in May 2001; and to Uiwang City, Gyeonggi-do in 2007.

-The company sent its researchers to Hyundai Motor's Namyang Main R&D Center to participate in designing wire harness.

R&D Expenditure 

(in millions of won)
FY ended Dec. 31, 2013 FY ended Dec. 31, 2012 FY ended Dec. 31, 2011
Amount 4,643 3,714 2,810
% of Sales 2.1% 2.3% 1.9%

Recent Developments

Areas of R&D Activities Research Bodies Benefits of the Product
FY ended Dec. 31, 2013 Smart junction boxes using intelligent power systems for vehicle interiors
The Company -Increasing design capacity
-Offering high-performance load control systems
-Reducing development cost through preliminary designing
FY ended Dec. 31, 2012 IPDM (Intelligent Power Distribution Module) The Company
KATECH (Korea Automotive Technology Institute)
-Improve design quality of gateway device
-Reduce development cost by preliminary designing
-Developing integration of verification to cut down cycle time
FY ended Dec. 31, 2012 Research on system optimization by utilizing big volume IP data The Company
Hyundai Motor, Kia Motors
-Improving design quality by adopting electronic materials
-System integration and optimization
FY ended Dec. 31, 2011 Smart junction boxes supporting the FlexRay in-vehicle communication The Company
Keimyung University (Korea)
-The technology is expected to contribute to shortening the development lead-time for products using the FlexRay automotive network communications protocol. The new product will be installed on a new vehicle.

Technical tie-up

-The Company has established a technical partnership with Furukawa Electric Co., Ltd. of Japan to conduct joint development and introduce Furukawa's technology in the area of the following segments:
  • Wire harnesses
  • Junction boxes
  • Connectors for wire harnesses