[Featured Stock] Seoeam Machinery Industry, Domestic Production of Gears for Railway Vehicles with 'Semi-Permanent Technology'... Expected Export to Neom City High-Speed Rail

[Asia Economy Reporter Hyungsoo Park] Seoam Machinery Industry is showing strong performance. The news that Hyundai Rotem signed an MOU for railway cooperation with the Saudi Arabian Ministry of Investment and NEOM City appears to have influenced the stock price. The main point is to build railway infrastructure within NEOM City. If Hyundai Rotem wins the Saudi high-speed rail project in the future, it will be the first export achievement of domestically produced high-speed rail. The scale of the Saudi high-speed rail project amounts to 2.5 trillion KRW.

As of 2:18 PM on the 17th, Seoam Machinery Industry is trading at 8,210 KRW, up 12.47% from the previous day.

Seoam Machinery Industry is a mechanical parts manufacturer producing gears, chucks & cylinders, and cubic couplings. The gears for railway vehicles are gears that transmit power to the wheels of railway vehicles, developed and currently supplied by Seoam Machinery Industry. Until now, gears for railway vehicle power transmission devices were entirely dependent on imports, but they have been localized through Seoam Machinery Industry's gear processing technology. Gears for railway vehicles must have excellent durability to allow semi-permanent use. It is expected that sales will increase once the localization of railway vehicles is completed.

Among products for industrial robots, gears are parts that transmit power and enable joint movement. Industrial robots are mainly used in the automotive and general industries and have great growth potential. They currently supply products that meet the demands of customers requiring diverse robot applications and precise movements. Sales are expected to start in earnest going forward.