[Asia Economy Reporter Hyunseok Yoo] Dongyang Moolsan is showing strong performance. The expectation for its autonomous driving business appears to have influenced its third-quarter strong results.
As of 2:41 PM on the 3rd, Dongyang Moolsan was trading at 1,725 KRW, up 20.21% (290 KRW) compared to the previous trading day.
On this day, Dongyang Moolsan announced that its third-quarter sales reached 183.9 billion KRW, with an operating profit of 9.1 billion KRW. Compared to the same period last year, sales increased by 34.0%, and operating profit surged by 2,042.7%.
A Dongyang Moolsan representative stated, “Exports to the North American region are continuously increasing, and profitability is improving by enhancing operational efficiency. Since a large volume of third-quarter exports was postponed to the fourth quarter at the request of clients, performance improvement is expected to continue through the end of the year.”
On the 23rd of last month, Dongyang Moolsan acquired HNT, a camera module manufacturer that is pursuing autonomous driving as a new business. HNT owns MDE, a specialized subsidiary for autonomous driving platforms. Since establishing ‘Automos,’ a subsidiary for autonomous vehicle development, in June last year, MDE has conducted demonstrations related to autonomous vehicles, perception sensors, and driving technologies.
In particular, it has carried out projects such as autonomous vehicle demonstration business, autonomous shuttle service development, and the Sejong City BRT demonstration and R&D project, which are part of the ‘autonomous driving mobility ecosystem construction projects.’
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