Seojin System Achieves Annual Sales of 1.2138 Trillion KRW... Joins the '1 Trillion Sales Club'

Seojin System announced on the 13th that it achieved consolidated sales of 1.2138 trillion KRW, operating profit of 108.7 billion KRW, and net profit of 82.6 billion KRW in 2024. Sales and operating profit grew by 55.9% and 121.8% respectively compared to the previous year, and net profit turned positive. By recording the highest-ever performance, the company joined the '1 Trillion KRW Sales Club.'

The record-high performance of Seojin System was driven by the ESS sector. With a large-scale production facility and manufacturing equipment spanning over 290,000 pyeong located in Vietnam, the company internalizes all processes from raw material processing to finished product production, securing high productivity and price competitiveness, which is its greatest strength.

In particular, as a result of focusing all efforts on large-scale orders, Seojin System's ESS-related sales increased by an impressive 131.8% year-on-year to 636 billion KRW, firmly establishing itself as the core growth engine of the company's performance.

This year, Seojin System plans to further accelerate performance growth by simultaneously expanding orders by business division based on the high level of quality competitiveness and stable manufacturing infrastructure demanded by global customers.

In the core ESS business, significant sales growth is expected again this year due to the addition of new customers and the effect of launching new medium-to-large ESS products. Until now, the standard mainly handled in the global ESS sector was the existing 7-foot container, but as the number of locations requiring high-power, large-capacity energy such as IDC increases, the container size is being enlarged to a 20-foot standard to output more electricity. As the size of ESS grows, Seojin System is expected to see an increase in supply amounts accordingly.

Alongside this, in the semiconductor sector, the company plans to expand its business scope from parts assembly for leading global semiconductor equipment companies to full product manufacturing and assembly. The company explained that sales and profit growth are expected due to expanded supply contracts with numerous global leading companies. Additionally, in the telecommunications business, Seojin System will leverage its core competency in telecommunications equipment manufacturing to expand into various businesses such as data centers and aerospace.

A Seojin System official stated, “Last year, the core ESS sector led the performance as a key business division, and the semiconductor equipment business also contributed due to increased production of high-bandwidth memory semiconductors. Based on the best performance achieved last year, this year we will pursue expansion in various business areas including ▲ESS ▲semiconductors ▲telecommunications ▲electric vehicle parts ▲data centers ▲aerospace, aiming to break our record high performance through external growth and profitability enhancement.”