DK Lock, Last Year's Sales Approaching 110 Billion Won... "Smooth Growth"

[Asia Economy Reporter Jang Hyowon] DK Lock announced on the 15th that its consolidated sales last year reached 109.9 billion KRW, an increase of 28.5% compared to the previous year. Operating profit during the same period rose by 36.7% to 11.4 billion KRW.

A company official stated, "In the fourth quarter alone last year, sales amounted to 31.4 billion KRW and operating profit was 3 billion KRW," adding, "We achieved the highest quarterly sales ever, and the growth trend continued."

However, due to the impact of exchange rate declines and conservative accounting treatment of inventory assets and accounts receivable, the fourth quarter operating profit was lower than expected.

No Eunsik, CEO of DK Lock, said, "The surge in orders from major overseas markets led to sales approaching 110 billion KRW last year," and added, "We will continue growth this year with large Italian-designed process ball valves, high-end semiconductor gas piping products, and LNG valves and coupling products for shipbuilding."

Meanwhile, the company was registered as a vendor last year with major clients such as Marathon Petroleum and Dow Chemical. It is also actively expanding the North American MRO (Maintenance, Repair, and Operations) market in cooperation with the global large integrated supply chain Ferguson Enterprises.

In June last year, responding to the demands of North American natural gas (CNG·NGV) vehicle system customers, the company obtained certification from the global testing and certification body 'TUV SUD' for ORFS (O-ring face seal) fitting products used in fueling systems.

Additionally, the company supplies UHP (Ultra High Purity) fittings and valve products to Samsung Display, SK Hynix, and Lam Research, and is promoting the domestic development of high-end UHP (ultra-clean) product lines for ultra-high purity gas and chemical lines, with visible results expected, the company explained.