Achieves 180 Billion KRW in Sales Last Year... "Expecting Increased Sales in Global Markets"

EcoVolt, a company specializing in automotive lighting, announced on the 29th that it recorded stable sales even after transitioning its business to the automotive electronic components sector, achieving consolidated sales of 180 billion KRW last year.

The company develops and manufactures vehicle LED modules installed in automotive headlamps, interior lights, brake lights, fog lights, and turn signals. The automotive industry has the characteristic that once selected as a parts supplier for a specific vehicle model, transactions continue until the assigned vehicle is discontinued. Due to new model development, security, and quality reasons, cooperation with automakers and the company's technological capabilities are crucial, making it a high entry barrier industry. According to the company, only a few firms, including its affiliate Kumho HT, compete domestically.

A company representative stated, “Currently, in advanced automotive markets such as the United States and Europe, the supply of electronic components is expected to increase due to the rising sales of electric and hybrid vehicles,” adding, “This is also expected to positively impact our sales growth.”

EcoVolt is smoothly proceeding with the merger with its subsidiary SFE Inotech to enhance management efficiency and strengthen business competitiveness. Upon completion of this merger, the company will be registered as a first-tier vendor for Hyundai Mobis.

Meanwhile, Oseong Advanced Materials, a manufacturer of optical films, is the largest shareholder of EcoVolt, holding a 35.19% stake. Oseong Advanced Materials announced on the 23rd that it achieved sales of 105 billion KRW and an operating profit of 12.7 billion KRW last year.