Model Solution Achieves 70 Billion KRW in Sales and 9.7 Billion KRW Operating Profit Last Year

Compared to the Previous Year, Increased by 14.5% and 9% Respectively

[Asia Economy Reporter Oh Gyumin] Model Solution, a subsidiary of Korea & Company Group (formerly Korea Tire Group), announced on the 30th that it achieved sales of 69.9 billion KRW and an operating profit of 9.7 billion KRW last year. These figures represent increases of 14.5% and 9%, respectively, compared to the previous year.

In the fourth quarter of last year, sales reached 20.5 billion KRW and operating profit was 3.4 billion KRW, marking increases of 14.5% and 29.5%, respectively, compared to the same period the previous year.

[Photo by Korea & Company Group]

The company stated that it achieved the milestone of being the first in the domestic prototype industry to be listed on KOSDAQ last year, driven by continuous growth in its prototype and injection molding divisions. In March of last year, it opened a new integrated Bucheon plant in the Ojeong Industrial Complex, Bucheon, Gyeonggi Province, established a CM (contract manufacturing) division, and invested in facilities capable of generating 30 billion KRW in sales. Currently, it supplies serving robots and disinfection robots to domestic and global service robot companies.

This year, the company plans to actively expand its contract manufacturing business targeting high value-added 4th industrial sectors such as robotics, IT, IoT (Internet of Things), and medical fields. The ‘precision machining division,’ which requires various materials and ultra-precise tolerances, is scheduled to be relocated to the Bucheon integrated plant within the first quarter.