S&T Motiv Co., Ltd. (Formerly S&T Daewoo Co., Ltd.) Business Report through FY ended Dec. 2013

Business Highlights

Highlights in Recent Years

Financial Overview (Consolidated)

(in millions KRW)
FY ended
Dec. 31, 2013
FY ended
Dec. 31, 2012
Rate of change Remarks
Sales 960,297 905,113 6.1 Sales by product (Ratio)
-Chassis parts : 263,987 million won (25.1%)
-Motors : 214,424 million won (20.4%)
-Electronic and electric products : 140,553 million won (13.4%)
Operating income 51,962 34,398 51.1 -
Net income 29,894 15,707 90.3 -



-In July 2011, the Company announced that it won program business to supply shock absorbers to Daihatsu Motor and started mass production. The business is expected to generate approximately 10 billion won in sales. (From a press release on July 20, 2011)


-S&T Automotive Mexico is supplying knee airbags for General Motors' Chevrolet Cruze. The Mexican subsidiary of S&T Motiv is also providing airbags and instrument panels for the Chevrolet Aveo and Chevrolet Trax. (From a press release, September 1, 2013)

-In April 2012, the Company won an award from GM to supply oil-pumps for 6-speed automatic engines for compact (1400cc class), mid-size, and large-size vehicles built by GM Korea and GM Shanghai. The supply agreement, forecast to be worth 560 billion won, will begin for five years starting in 2015. (From an April 23, 2012 press release)

-The Company was awarded a contract to supply auxiliary pump motors for the GM Volt. Delivery of the products began in 2010.

-From Nov. 2008, the Company will begin supplying roof rail airbags (RRABs) to General Motors North America. These RRABs, which are designed to protect passengers from side impacts, will be installed on the Winstorm crossover SUVs (development code: C-100). The Company became the first in Korea to develop roof rail airbags in-house. (From a press release on Oct. 17, 2008)

-In October 2008, the Company was awarded program business for the first time for knee airbags. The business involves a five-year contract from General Motors starting from 2010 to supply knee airbags to the successor models of the Gentra manufactured by GM-Daewoo and the Lacetti assembled by both General Motors North America and General Motors Mexico. (The successor models development codes are the T-300 and J-300, respectively.) These programs are expected to generate 10 billion won in sales each year. (From a press release on Oct. 17, 2008)

-In October 2008, the Company's Incheon facility started mass-production of D16 transaxles. It plans to deliver 840,000 D16 transaxles to GM by 2012 for installation on vehicles including the Kalos and the Lacetti assembled by GM Daewoo. (From a press release on Oct. 17, 2008)

-Starting in June 2008, the Company will supply steering knuckles to GM's compact sport utility vehicles (SUVs) over a five-year period starting from May 2011. It will deliver these steering knuckles to GME (GM Europe), GMNA (GM North America), GMLA (GM Latin America), SGM (Shanghai GM), and GMI (GM India), expecting to generate 37.3 billion won in sales. (From a press release on June 24, 2008)

-In October 2007, the Company won a supply award to provide instrument clusters to GM. This business is worth 61.6 billion won, which is equivalent to 11.8 percent of the Company's sales results for the previous year (520.9 billion won). The contract covers the period between Jan. 2010 and December, 2014. (From a press release on Oct. 11, 2007)

-In December 2006, the Company announced that it has awarded from GM contracts to supply suspension modules worth up to 268 million dollars; Preferred Device Interface Modules (USB and MP3 input terminals) up to 68 million dollars; and car navigation and Digital Media Multimedia Broadcasting (DMB) systems sales of which is expected to reach 36.9 billion won at a maximum. (Based on a press release on Dec. 22, 2006)

-The Company will supply drive motors for commercial hybrid vehicles and fuel-cell vehicles manufactured by Hyundai Motor, starting in 2012. 

-The Company is supplying the Integrated Starter Generators (ISG) for the Hyundai Sonata Hybrid and the Kia K5 Hybrid.

-The Company will supply motors to Hyundai Mobis for use in Motor-Driven Power Steering Systems (MDPS) featured on the Hyundai Motor YF Sonata sold in North America. The business will add approximately 10 billion won to S&T Daewoo's annual sales. In addition, the company will also provide Hyundai Motor with cell motors and power generation motors for the YF Sonota hybrids, starting in 2010. (From a press release on Jul. 14, 2009)

-The Company will supply Hyundai Mobis with motors for use in Motor-Driven Power Steering systems (MDPSs) for a period of four years starting from 2009. The MDPSs will be installed on the successor model to the Hyundai Sonata (development code : YF). These motors are also used in the MDPSs installed on Hyundai''s Avante. (From a press release on Jun. 16, 2008)

-The Company supplies its Motor-Driven Power Steering systems (MDPSs) to the majority of Hyundai Motor's and Kia Motors' new medium- and small-sized models including the Hyundai FY Sonata, the Kia Forte, and the Kia Foul. By 2015, the MDPSs are likely to be featured on all models manufactured by both the Hyundai and the Kia Groups.

PSA Peugeot Citroen
-The Company has been supplying rear seat entertainment systems to Peugeot since FY2009. It also won a contract to supply seat-belt lock indicators from FY2010.

-The Company won a project award from PSA to supply multimedia products for the new Peugeot Citroen. Under the contract worth up to 106 billion won, its in-vehicle multi-media entertainment systems will be installed in three new models, allowing the car passengers in the backseat to enjoy audio and video programs including TV, DVD, and car navigation systems. Production of the new vehicles is scheduled to begin in 2009. (From a press release on Feb. 1, 2007)

-The Company won program business to supply sunroof motors for the Mercedes-Benz E Class and M Class, starting in 2010.

-The Company was awarded a six-year contract to supply auto parts worth 75 million US dollars to ArvinMeritor of the U.S. Based on this contract, it will manufacture DC motors and electronic control units from 2009 for sun roof systems to be mounted on vehicles produced by Daimler in Europe and Chrysler in the U.S.A. Officials of the Company said, "We will continue our drive to diversify our customer base in line with our global marketing strategies targeting carmakers based not only in North America but also in Europe and Asia." Sales from the new business account for around 13.6 percent of the Company's total revenue in 2006. (From a press release on Aug. 23, 2007)

Renault Samsung
*In 2010, the Company was awarded contracts to supply instrument clusters for all the variants of the SM3 as well as the SM5 destined for export to the European market.

-The Company since October 2008 has been supplying side step motors to Decoma International in the Magna International Group. (From a press release on Jul. 14, 2009)

-The Company announced that its dual range motor has been chosen by Magna Powertrain. It has already started supplying these products, projecting additional sales of 22 billion won per year. (From a press release on Jul. 14, 2009)

*In May 2012, the Company won a supply agreement from the German supplier Getrag to deliver motors for duel-clutch transmissions. The agreement is forecast to be worth 100 billion won. The duel-clutch transmissions to be mounted with the Company's motors will be delivered to Ford for a period of five years. (From a May 2, 2012 press release)

-The Company announced that its new plant in Kunshan, Jiangsu Province, China will start operating this month. The facility will manufacture shock absorbers for the Chevrolet Cruise built by both Shanghai GM and GM Europe. These shock absorbers will be also delivered to Saipa of Iran for installation in the Kia Pride. (From a Press release on Mar. 1, 2009)


-In January 2011, the Company acquired all 31.52 percent shares of S&T Motors Co., Ltd. held by S&T Holdings Co., Ltd., making S&T Motors its subsidiary. S&T Daewoo and S&T Motors, which manufactures motorcycles, will collaborate in developing electric motors and ECUs for electric vehicles. S&T Motors has headquarters and two production facilities in Changwon. (From a press release on January 28, 2011)

-In January 2010, the Company established S&T Automotive Mexico (STAM) to manufacture automotive components in Mexico. The new company is capitalized at 35 million won. (From a press release on Jan. 6, 2010)

-In June 2008, the Company established S&T Daewoo India Private Ltd. in Pune, Maharashtra, India about 45 kilometers away from GM's Talegaon Plant. The new subsidiary will manufacture and supply shock absorbers, instrument clusters, HVAC switches, and other auto parts for installation on the GM300 series. Between 2010 and 2015, the new company aims to generate more than 52 billion won in sales. (From a press release on Jun. 16, 2008)

-In January 2007, the Company acquired 51% of shares of Guangzhou S&T Heavy Industry Co., Ltd. (China), a supplier of heat exchange products, at an acquisition cost of 2,977.37 billion won. According to the Company, the purpose of the acquisition were to attain a new production facility to keep up with an increased order as well as to improve production cost structure. Guangzhou S&T was later made into a wholly owned subsidiary of the Company.  

-In December 2007, the Company established S&T Daewoo Automotive Components (Kunshan) Co.,Ltd., a production facility in Jiangsu Province, China by investing 9.2 billion won, the entire amount of the capital needed. (From a press release on Dec. 10, 2007)

-In June 2007, the Company established S&T Polska to manufacture auto components in Poland. (From a press release on Jun. 14, 2007)


-In October 2013, the Company announced that it eight plants in Korea have received the 2013 GM Supplier Quality Excellence Awards at an awarding ceremony held in Korea in October 2013. The awards were given in recognition of these facilities' zero-defects (ppm) performances over the past year. The eight domestic plants included those in Busan, Yangsan, Gunsan, Boryeong and Daegu. At the General Motors' headquarters in the U.S., the company was also awarded the Quality Excellence Award for its shock absorbers produced at S&T America Ltd. (From a press release, October 11, 2013)

-In March 2013, the Company announced that it has been awarded the Special Performance Award from General Motors Korea. The supplier has received the prize at a ceremony held at the automaker's Bupyeong Plant to celebrate the mass production launch of the Chevrolet Trax. It was given in recognition of S&T Motiv's high product quality and very reliable delivery performances. The Chevrolet Trax compact SUV will be sold not only in Korea but also in the U.S. and Europe. (From a press release, March 18, 213)

-In November 2012, the Company announced that it has received General Motors' Quality Excellence Award for 2012. Eighty-six companies out of approximately 700 major suppliers dealing with the automaker were given the quality award. (From a press release, November 15, 2012)


R&D Structure

-The Company conducts its development activities mainly at its technical research center in Busan.

-The Company has a total of 185 researchers at its technical research center and electronic component division as of December 31, 2013.

-In January 2010, the Company signed a cooperative agreement with the Automotive Control and Electronics Laboratory of Hanyang University. Based on this collaboration between industry and academia, the two parties will conduct joint development on engine ECUs and related components. (From a press release on January 22, 2010)

R&D Expenses

(in millions KRW)
FY ended Dec. 31, 2013 FY ended Dec. 31, 2012 FY ended Dec. 31, 2011
Amount 22,106 20,753 21,678
% of Sales 2.3% 2.3% 2.4%

Development Activities by Business Division


Motor - The Company is increasing its shares in the powertrain motor and sunroof motor markets.

- The Motor-Driven Power Steering (MDPS) systems, brushless motors, and high-power motors made by the Company are featured in an increasing number of vehicle models.

- The Company is developing motors for use in next generation vehicles as well as motors to support X-by-wire technology.
Electronic - The Company developed remote keyless entry systems in 1986. After that, it developed immobilizers and body control modules (BCMs), which are now being mass produced.

- Recently it developed a motor-integrated sunroof controllers with an anti-pinching protection function.
- In 1987, the Company formed a technical alliance with Calsonic Kansei Corporation.

- In 1995, the Company successfully developed instrument panels in-house.
Chassis - In the initial stage, the Company developed its chassis business by collaborating with Boge of Germany, which is now called ZF Sachs.

- After that, it developed chassis products on its own, supplying them for use in new vehicle models.

- Currently it is transferring its technology to Gabriel India.
Airbag - In the initial stage, the Company developed its airbag business through its technical collaboration with TRW and Breed (now called KSS) based in the U.S.

- After that, the Company was successful in developing airbags on its own.
- In the initial stage, the Company conducted its development activities based on a technical partnership with AC Rochester (now called AC Delco).

- After that, it developed engine components on its own, supplying them for use in new vehicle models.

- The Company developed and started commercial production of semi-electronic control throttle bodies in order to support increased use of electronic parts in automobiles.

Recent developments

Development project Development
Shock abosorbers
(For the GM Chevrolet Aveo)
Jun. 2007 -
Oct. 2012
Shock abosorbers
(For the GM Gamma SUV)
Mar. 2008 -
Feb. 2013
(Shift motors for transfer cases)
Apr. 2008 -
Jun. 2009
Auxiliary pumps
(For the GM Chevrolet Volt)
Apr. 2008 -
Dec. 2009
Passenger airbags
(For the GM Chevrolet Trax)
Sep. 2008 -
Feb. 2012
ECS for commercial vehicles Nov. 2008 -
Sep. 2010
Knee airbags
(For the GM Chevrolet Cruze)
Nov. 2008 -
Apr. 2010
Knee airbags
(For the GM Chevrolet Aveo)
Nov. 2008 -
Apr. 2011
Auxiliary oil pumps
(For automatic transmissions used in hybrid vehicles)
Dec. 2008 -
Jan. 2015
ECSs for passenger car Dec. 2008 -
Sep. 2010
Core components for electronic traction motor
(For hybrid vehicles and electric vehicles)
Dec. 2008 -
Sep. 2013
Clutch and shift select drive motors
(Dual clutch transmissions)
Dec. 2008 -
Sep. 2013
B-DOHC Gen2 engine front covers
(For the GM Chevrolet Spark)
Feb. 2009 -
Nov. 2011
(Hybrid Starters & Generators)
Apr. 2009 -
Jun. 2010
Knee airbags
(For the GM Chevrolet Spark sold in North America)
Jul. 2009 -
Oct. 2011
Passenger airbags
(For the GM Chevrolet Spark sold in North America)
Jul. 2009 -
Oct. 2011
Knee airbags
(For the GM Chevrolet Cruze)
Aug. 2009 -
Jun. 2011
Instrument clusters
(For Renault Samsung)
Jun. 2009 -
Jan. 2010
Shock absorbers
(For the GM Chevrolet Volt)
Aug. 2009 -
Nov. 2010
Shock absorbers
(For the GM Chevrolet Orlando)
Aug. 2009 -
Jun. 2011
Shock absorbers
(For the GM Chevrolet Spark)
Oct. 2009 -
Mar. 2013
X26R/X39F auxiliary pumps
(Hybrid automatic transmissions)
Mar. 2010 -
Feb. 2014
Shock absorbers
(For Daihatsu)
Oct. 2010 -
Nov. 2011
Oil pump front cover modules
(For the GM Chevrolet Malibu)
Jan. 2011 -
Aug. 2013
Shock absorbers
(For the successor model of the GM Chevrolet Spark)
Sep. 2011 -
Mar. 2015
(For the successor model of the GM Chevrolet Spark)
Sep. 2011 -
Mar. 2015
Instrument panels
(For the successor model of the GM Chevrolet Spark)
Jul. 2012 -
Jan. 2015
Shock absorbers
(For the successor model of the Shanghai GM Chevrolet Cruze)
Nov. 2011 -
Apr. 2014
Shock absorbers
(For Dongfeng Motor)
Dec. 2011 -
Jun. 2015
GF6-GEN3 oil pumps
(6-speed automatic transmissions)
Jun. 2012 -
Dec. 2014
X51R ATM oil pups
(For the GM North America 8-speed automatic transmissions)
Dec. 2012 -
Jun. 2014
Dual pinion type MDPS motors
(For Hyundai)
Feb. 2012 -
Sep. 2013
EHPS motors
(For Hyundai)
Dec. 2012 -
Sep. 2013
Omega transfer case shift motors
(For the GM Cadillac)
Apr. 2012 -
Sep. 2013
DRB motors (GEN5)
(For the GM SUV)
Dec. 2012 -
Sep. 2013
NV273 transfer case shift motors
(For the Ford Super duty truck)
Jan. 2012 -
Mar. 2013
MDPS motors
(For the Hyundai Sonata, GC, PF)
Dec. 2012 -
May 2014
(For the Hyundai Sonata)
Mar. 2013 -
May 2014