[Edaily Reporter Kwon Oh-seok] IBK Investment & Securities stated on the 19th regarding #KoreaPIM that “Growth centered on IT and automotive products, for which investment has been completed, is expected starting in the second half of the year.” However, the firm did not provide an investment recommendation or a target price.

Kang Min-gu, an analyst at IBK Investment & Securities, analyzed, “We expect the market for data center cooling components to take off in 2027, followed by the market for ultra-compact gearboxes for humanoid robots in 2028
are expected to take off in succession," he analyzed. Korea P.I.M. is engaged in the production of metal parts using the “MIM” (Metal Injection Molding) process. MIM refers to a manufacturing method that combines powder metallurgy with plastic injection molding, specializing in the mass production of ultra-small, ultra-precise parts.
Researcher Kang stated, “Korea PIM is diversifying its downstream markets through its manufacturing capabilities for ultra-small metal components. Since its founding, the company has grown primarily through automotive components such as ‘adjustment levers’ and ‘vanes,’ but we expect to see substantial results in the future from applications such as humanoids, EVs, and data centers,” he said. “The company is developing 16 types of components for humanoids, including gearboxes, ultra-small gearboxes, and brackets. We anticipate that the ultra-small gearbox, which will be used for finger joints, will generate high profit margins once commercialized.”
He explained, “We have recently expanded into the data center cooling components market. Data centers generate large amounts of heat during computing processes, making cooling systems essential to maintain server efficiency and reduce power consumption.” He added, “We expect to deliver the first batch of cooling components to U.S.-based Company E in the second half of this year, and if we are integrated into the supply chain of a major power management company in the future, another cash cow business unit will be born.”
However, first-quarter results showed revenue of 83.1억 won (down 3.7% year-over-year) and an operating loss of 7.4억 won (a shift to a loss). Analyst Kang stated, “The primary cause of the poor performance was development and operational expenses incurred in entering new business areas.”