The stock price of Sindogiyeon is on the rise. It appears that the news of Sindogiyeon establishing a 'smart window' factory in Saudi Arabia together with Difon is influencing the stock price. A smart window is a product that adjusts the light entering through glass windows as desired. It functions to block ultraviolet rays, provide insulation, and protect privacy, and is expected to largely replace glass used in residential buildings in the United States and Europe. According to Sindogiyeon's business report, the global smart window market is expected to reach approximately $19.62 billion by 2030. The liquid crystal-based method is mainly used in the premium market, and it is anticipated that the market will first form domestically for automotive use and overseas for architectural use.
As of 2:01 PM on the 25th, Sindogiyeon is trading at 4,195 KRW, up 21.95% compared to the previous trading day.
Difon and Sindogiyeon recently announced that they exchanged a memorandum of understanding (MOU) for smart window business cooperation with Saudi Arabia's state-owned company EROG. EROG is an affiliate of Saudi Aramco, the world's largest petrochemical company. The three parties agreed to establish a local joint venture (JV) and build a production line.
Smart windows allow users to selectively change the light transmission and shading rates. The core technologies of smart windows are light scattering and polarization control. Difon, a startup spun off from Hyundai Motor Company in 2021, possesses technology that controls light transmission in stages from transparent to completely black, blocking light entirely. Sindogiyeon developed smart window manufacturing equipment based on liquid crystal technology using LCD manufacturing process equipment and has delivered pilot equipment. They are also reviewing equipment capable of fully automating approximately seven processes inline. They plan to strengthen cooperation with customers in the smart window manufacturing equipment market through joint process development and other collaborations to secure market leadership and expand orders.
The cooperation between Difon, Sindogiyeon, and EROG has been in preparation for over a year. EROG anticipates an increase in demand for smart windows in various buildings as Saudi Arabia hosts five major international events within ten years, including the World Cup, World Expo, Asian Cup, and Asian Games. To locally produce and supply smart windows, this cooperation was pursued.
Based on Difon's smart film technology, Sindogiyeon will establish smart window process equipment. Together with EROG, they plan to secure a production line in Saudi Arabia and supply smart window products locally.
Ali D Al-Kabi, Vice Chairman of EROG, stated, "We will cooperate to supply smart windows not only to the domestic Saudi market but also to the Middle East and North Africa (MENA) and Gulf Cooperation Council (GCC) regions." Difon said, "We will create new opportunities in the Saudi market."
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