SeAH Besteel Corporation Business Report FY ended Dec. 2017

Business Results (FY Ended in Dec. 2017)

(In 100 millions of won)
Business Division Special Steel Automotive Parts Total
Total Sales 18,993 282 19,275
Korea Domestic 15,689 150 15,839
Export 3,305 131 3,436
Operating income 1,248 12 1,259

business alliance

-The Company announced in May 2018 that it is acquiring 35% of the stock shares in Sechang Steel, an auto-parts maker based in South Korea. This current stock purchase is based on a strategic, business alliance that the two companies formed to collaborate in various business sectors and jointly develop technologies. The business alliance is aimed to enable both companies to expand their businesses globally. Sechang Steel is based in Jeongeup City, North Jeolla Province and manufactures seamless pipesfor automotive use.

R&D Structure

-The R&D Department consists of 23 employees engaged in R&D activities on automotive parts and 36 others who work in the Processing R&D Center.

R&D Expenditure

(in million KRW)
FY ended Dec. 31, 2017
FY ended Dec. 31, 2016
FY ended Dec. 31, 2015
Amount 7,237 7,529 7,330
% of sales 0.4% 0.5% 0.4%