[IPO] Korea PIM “Leading Domestic MIM Technology to Fully Launch New IT, Autonomous Driving, and Robotics Businesses”

Juno Song, CEO of Korea PIM.

"With the nation's No.1 MIM technology, we will actively enter new businesses in IT, autonomous driving, and robotics to leap forward as the world's top MIM company."

On the 13th, Korea PIM, the leading domestic company possessing MIM (Metal Injection Molding) technology, held a press conference at the Yeouido 63 Building ahead of its upcoming KOSDAQ listing in April.

Founded in 2001, Korea PIM is the No.1 company in Korea in the MIM field, a next-generation manufacturing technology capable of ultra-precision processing and complex shape realization. Korea PIM has independently developed globally exclusive next-generation hybrid new material technology and the only domestic titanium mass production technology, and through continuous research and development (R&D), it has completed building global entry barriers in the MIM sector.

Based on sales to global automotive electronics companies, Korea PIM achieved consolidated sales of 38 billion KRW and an operating profit margin of 11.3% in 2023. Leveraging differentiated technological capabilities, it has secured customers not only among global electronics companies but also leading IT and autonomous driving companies such as Samsung Electronics and LG Innotek, continuing export-driven growth.

Korea PIM plans to diversify the application fields of MIM technology into autonomous driving and robotics and accelerate growth by fully launching its titanium-based business. It will expand the IT-dedicated production line at its Vietnam manufacturing base to respond to mass production for global IT giants and aims to maximize sales in the autonomous driving sector through the development of next-generation autonomous driving camera module materials. Starting this year, the company will begin titanium material production domestically, secure the upstream value chain, and expand applications into high value-added businesses, according to the company.

Based on its unparalleled technology in the MIM field, Korea PIM is also advancing into the robotics sector, where demand for ultra-precision materials is high, such as humanoid robots. Recently, Korea PIM began preliminary development of reduction gear materials for humanoid robots and is in discussions with global companies regarding product supply. It is also jointly developing reduction gear products for logistics robots with domestic automakers.

A Korea PIM official stated, "Korea PIM continues to grow by securing various global major companies as customers based on the highest level of domestic technology and mass production capabilities in the MIM field. We plan to expand the application fields of MIM technology to maximize sales centered on high value-added industries, thereby accelerating performance growth and leaping forward as the world's No.1 MIM company."

He added, "The funds raised through this IPO will be used for the titanium material business and mass production of Korea PIM's new products. We will establish mass production facilities for IT and autonomous driving at the domestic production base and expand the IT-dedicated production line at the Vietnam factory to fully launch new business sales."

Meanwhile, Korea PIM's total number of public offering shares is 1.3 million. The expected public offering price is set between 9,300 and 11,200 KRW, with a total expected offering amount of 12.1 to 14.6 billion KRW. The public offering price will be finalized through demand forecasting from the 17th to the 21st, and subscription will be accepted for two days from the 25th to the 26th. The scheduled KOSDAQ listing date is April 4, with IBK Investment & Securities as the lead underwriter.