Ministry of Industry Approves Business Restructuring for Eight Companies Including Semiconductors and Batteries

The Ministry of Trade, Industry and Energy announced on June 24 that it held the 47th Business Restructuring Plan Review Committee and approved the business restructuring plans of a total of eight companies. Over the next five years, these approved companies will invest a total of 78.3 billion won and newly hire 169 people as they pursue business transitions into new growth areas such as electric vehicles, semiconductors, and eco-friendly materials.

With this approval, SJ Autotech, an automotive parts company, will enter the sensing block market, which detects the current flow in electric vehicle batteries. Daewon FNC plans to localize conductive ceramic materials with electrostatic control functions for semiconductor processes. VICS, a chemical materials company, will produce eco-friendly eco-polyol by using recycled carbon dioxide (CO₂) to replace about 30% of petroleum-based raw materials.

Seojin Industry will develop battery cases using the Cell-to-Pack method, which omits the module stage in the battery cell-module-pack structure. This technology aims to reduce the weight of electric vehicle batteries and improve manufacturing efficiency, serving as a strategy to respond to changes in the related market.

In addition, MFCNF will expand its existing business of manufacturing water meters and remote reading terminals to a remote reading system for mechanical water meters, while Hyundai Hitech will enter the field of high-strength body modules for electric vehicles. Anymedi Solution, a company specializing in 3D-printed medical devices, will promote automated surgical planning solutions, and Yuseong Powertech Co., Ltd. will newly pursue battery cell cases for electric vehicles.

Moon Sinhak, First Vice Minister of the Ministry of Trade, Industry and Energy, stated, "The core vision of the new government is 'growth,'" and added, "We will continue to improve the system so that companies can carry out innovative and preemptive business restructuring, enabling them to overcome the economic crisis."