[Featured Stock] Hyunwoo Industry Rises on Apple Car Self-Development... Actively Utilizing Verified iPhone Parts Supply Chain

[Asia Economy Reporter Hyungsoo Park] As Apple is reported to be developing the Apple Car independently, Hyunwoo Industry is showing strong performance.

At 9:37 AM on the 10th, Hyunwoo Industry was trading at 7,320 KRW, up 17.22% from the previous day.

KB Securities forecasted that the core component supply chain for the Apple Car will gradually take shape. They also suggested that if Apple utilizes the iPhone component supply chain within a limited timeframe, there is a possibility of signing supply contracts with companies such as LG, Samsung, and SK.

Kim Dongwon, a researcher at KB Securities, stated, "It is known that Apple has shifted to independent development of the Apple Car instead of collaborating with automobile manufacturers. They have sent requests for quotations to global automotive parts suppliers and reportedly restored research centers for automobile development, so the core component supply chain for the Apple Car is expected to gradually become clearer."

He added, "Assuming Apple excludes cooperation with complete car manufacturers and aims to launch the Apple Car in 2024?2025, it is expected that Apple will take the lead in both hardware and software development of the Apple Car, similar to the iPhone."

Furthermore, "Apple is expected to actively utilize the already market-verified iPhone component supply chain within a limited timeframe," he explained, "and it is highly likely that Apple will purchase key electric vehicle components such as batteries and motors from LG, Samsung, and SK."

Kim also assessed that the visibility of long-term supply contracts with LG Electronics, LG Innotek, the three domestic battery companies, and material suppliers is expected to expand simultaneously.

Hyunwoo Industry is an electronics component specialist company that produces and sells printed circuit boards (PCBs) as its main product. It supplies PCBs to major domestic and international customers in the automotive and electric vehicle electronics sectors, display sectors, and information and communication sectors. Its sales composition is 17.6% domestic and 82.4% export.