[Edaily Reporter Kwon Oh-seok] #Seongmun Electronics announced on the 15th that it is seeking to secure new growth engines by considering direct investment and the establishment of a joint venture (JV) with a global small-to-medium enterprise (SME) that possesses core technologies in the future advanced materials sector. Through this partnership, the company plans to enhance its technological competitiveness and strengthen its leadership in the next-generation advanced materials value chain.

Seongmun Electronics is restructuring its business by increasing the proportion of high-value-added products, such as deposition films for solar, wind, ESS (energy storage systems), and electric vehicles (EVs). The company explained that it is undergoing a fundamental transformation into a “global core materials company for eco-friendly energy” by shifting its portfolio from general-purpose components to premium materials.
The results of its overseas equity investments are also becoming fully visible. Sungmoon Electronics plans to supply EV capacitors to domestic and international EV manufacturers through Bongseong Electronics (Anhui Province, China), in which it secured a 25% stake by investing approximately 5.5 billion won in 2021. The plant of Giseong New Materials (Jiangsu Province), in which the company acquired a 25% stake last year, is scheduled to begin full-scale operations in the fourth quarter of next year.
Once production begins at Kiseong New Materials, the company expects to significantly reduce its reliance on external suppliers by securing its own supply of PP (polypropylene) film, a key raw material. Based on improved cost competitiveness, the company anticipates that operating profit will enter a phase of substantial growth starting at the end of next year.
The company also states that the outlook for second-quarter earnings is favorable. Its Qingdao subsidiary in China, a key hub for its global localization strategy, has established itself as a major profit source within the group by consistently posting profits, and the company is accelerating its efforts toward “vertical integration of the value chain” centered on Kiseong New Materials.
A Sungmoon Electronics official stated, “The realignment of our portfolio toward high-value-added deposition films and the continued stable profitability of our Qingdao subsidiary are the first signs of the company’s turnaround,” adding, “Once we complete vertical integration and secure groundbreaking cost competitiveness, our corporate value will undergo a major re-rating.”