[Company Visit] MGen Solution Covers Growing Next-Generation Transformer Volume with ‘Automation’

Targeting 30 Billion KRW Sales This Year... Aiming for Next-Generation Transformer Market
Securing Dustproof and Moisture-Proof Technology... Plans to Enter Electric Vehicle Market

#The factory of Musembina, a 100% subsidiary of MZ Solution located in Ho Chi Minh City, Vietnam. Upon entering the factory, a robot greeted the reporter instead of a worker. The robot continuously wound coils on transformers and power inductors and assembled them.

The Musembina factory in Vietnam operates 24 production lines within an area of 10,000㎡ (approximately 3,000 pyeong). Over 80% of the factory is equipped with automated facilities. While other companies require 7 to 8 workers per line, Musembina can operate the same process with about 2 managers. To achieve the same production volume, other companies need about 800 employees, whereas Musembina can manage with 250.

MZ Solution began establishing the Musembina factory in October last year. All automation equipment at Musembina reflects the know-how of MZ Solution’s partners and represents the latest technology. It took six years to develop. The factory started its first operation last month and plans to add 7 more lines by July this year due to increasing orders. Currently, it operates 24 hours a day except Sundays.

Kim Kyung-sik, head of Musembina, stated, “Once the additional lines are installed and process efficiency improvements are completed by October, the yield rate will exceed 90%. After stabilization, we plan to produce 6 million units per month, targeting approximately 30 billion KRW in sales.”

He explained that once the factory stabilizes, securing orders will not be an issue. Musembina produces products under an exclusive license from Musem Technology’s patents. Musem Technology is a first-tier SOL vendor supplying coil magnetic materials to Samsung Electronics through its factory in China. Major clients include Samsung Electronics, LG Electronics, and Chinese companies TCL and Hisense. These clients hold 64.7% of the total TV market share. The global TV market size is estimated at approximately 123.9 trillion KRW.

Kim said, “Due to recent regulations such as the U.S. ban on imports of Chinese products, customers prefer parts produced in Vietnam or other countries instead of China. Musem Technology, in preparation for this, proactively established a production base in Vietnam together with MZ Solution.”

He added, “MZ Solution was chosen for collaboration because of its past experience as a partner in Samsung Electronics’ printer developing and IoT business sectors. Musem also needed to alleviate the burden of operating as a SOL vendor, so both parties’ needs aligned.”

Currently, most products manufactured at Musembina are ultimately supplied to Samsung Electronics. Within a month of factory operation, customer registration procedures with Hisense were completed, and TCL conducted a line tour earlier this month. Since these companies were already familiar with Musem Technology’s technology, the due diligence process proceeded quickly. This is why continuous orders are expected after process stabilization.

Furthermore, the development of new markets is favorable for MZ Solution. The premium TV market for sizes over 85 inches has grown explosively, increasing more than tenfold compared to five years ago. Premium TVs are becoming larger yet thinner and more durable. Additionally, with the integration of artificial intelligence (AI) and IoT, more sophisticated components are required. Consequently, existing parts are being replaced with next-generation transformers.

Kim stated, “MZ Solution Musembina’s next-generation transformers have excellent dustproof and moisture-proof capabilities while also being slim. Unlike other companies that impregnate parts (immersing in water and solidifying), Musembina injects all parts at once, preventing dust or moisture intrusion, making them resistant to fire and noise.”

In the future, MZ Solution plans to enter the electric vehicle market through Musembina. Musembina’s next-generation transformers are essential components for electric vehicles. Especially in the electric vehicle market, which is sensitive to safety issues such as fire, Musembina’s dustproof and moisture-proof technologies are gaining attention. Musem’s research institute in China is also conducting national projects related to electric vehicles.

He said, “Currently, MZ Solution is a startup in the coil magnetic materials industry and supplies products through Musem, but through cooperation with Musem, we plan to directly supply major clients under the MZ Solution name within a short period. We expect greater growth, aiming to achieve 70 billion KRW in sales from this business division alone by 2027.”