[Alpha Biz= Reporter Kim Jisun] SeAH SPECIAL STEEL is planning to expand the production of steering components for automobiles.
SeAH SPECIAL STEEL announced on the 29th that it will invest 42.3 billion won for the construction of new facilities and factories for the production of steering parts for automobiles in Wonju, Gangwon-do. At the same time, Mexico will invest 28.3 billion won to build a new plant. KRW 70.6 billion will be spent on expanding the production of steering parts for automobiles alone.
Earlier this year, SeAH SPECIAL STEEL decided to merge with SeAH Metal, a subsidiary of its auto parts processing business. Through this, the company tried to integrate production lines from automobile parts processing to assembly. SEAH Special Steel produces key components that are mounted on automobile steering gears, focusing on the finished product production system and technology of automobile parts.
SEAH Special Steel recorded operating profit of 9 billion won last year. This is about 70% lower than 28.8 billion won last year.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
