Korea Movenex Co., Ltd. (Formerly Korea Flange Co., Ltd.)

Company Profile

■URL

■Address

2, Mipo 1-gil, Dong-gu, Ulsan, Korea

Business Overview

-Korea Flange Co., Ltd. changed its company name as Korea Movenex Co., Ltd. in April 2023.

-The Company conducts its business in three operating segments: the Automotive Parts Division; Flange Division; and Industrial Machinery Division.

Division	Main Products
Automotive Parts	CV joint Components for commercial vehicles (Beam axle, etc.) Components for passenger vehicles (Front axle assembly, etc.) Automotive forging components
Flange	-
Industrial Machinery	Marine engine components, etc.

-Automotive components account for 97.6% of the company's sales.

-Its major customers are Hyundai Motor and Kia Motors.

Shareholders

(As of Dec. 31, 2023)

Major Shareholders	Interest Ratio (%)
Kim, Yun Soo	23.49
Kim, Yong Seok	11.16
Total	34.65‬

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Products

-Front/Rear Axle & Brake Complete Ass'y
-Front Axle
-Rear Axle
-Half shaft
-Inner Shaft
-Crank Shaft
-Connecting Rod
-Flange

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History

Jul. 1974	Ulsan Iron Works Co., Ltd. was established.
Mar. 1976	The Company adopted a new corporate name, Korea Flange Co., Ltd.
Jan. 1980	The Company completed the construction of its Plant No. 2, a forging facility.
Apr. 1985	The Company started commercial production of automotive parts.
Jul. 1987	The Company went public.
Mar. 1988	The Company completed the construction of its Plant No.3 to produce chassis parts for use in passenger vehicles.
Jan. 1997	The Company became a member of the the Hyundai Group.
Dec. 1997	The Automotive Parts Division obtained ISO9002 and QS9000 certifications.
Jan. 1999	The Automotive Forged Parts Division obtained QS9000 certification.
May. 1999	The Company was spun off from the Hyundai Group.
Sep. 2002	The Company completed the construction of its Plant No.4, an auto parts assembly facility.
Sep. 2003	The Company, NTN of Japan, and the Yulon Group of Taiwan jointly established Beijing NTN-Seohan Driveshaft Co. , Ltd. in China.
Feb. 2004	The Company and BorgWarner of the U.S. jointly established Seohan Warner Turbo Systems Co., Ltd. in Korea.
Aug. 2004	The Company acquired TS16949 and ISO14001 certification.
Mar. 2007	Established Seohan-NTN Driveshaft USA Corporation in Alabama, as a joint venture with NTN based in Japan.
Apr. 2007	The Company established Seohan Auto USA Corporation in Alabama, U.S.A.
Dec. 2009	The Company, NTN of Japan, and Seohan Industries of Korea jointly established Seohan-NTN Bearing Co., Ltd. in Korea.
Nov. 2012	Relocated the Seohan Technical Center to Hwaseong.
Jan. 2015	Established Seohan Auto Mexico, S. De R.L. De C.V.
Sep. 2015	Established Chongqing NTN-Seohan Driveshaft Co., Ltd. through an investment financed solely by Beijing NTN-Seohan Driveshaft Co., Ltd.
Mar. 2022	Expanded the fourth factory in Ulsan, Korea (annual production capacity: 287,000 units) and began mass production.
Oct. 2022	Incorporated investment the USA branch, Seohan Auto Georgia.
Oct. 2022	Auto Metal Global Co., Ltd., subsidiary of the company, acquired Donggang.
Apr. 2023	Company name change to "Korea Movenex Co., Ltd." from "Korea Flange Co., Ltd."