Business · Companies · 2 hrs ago
South Korea’s JP Innovation plans factories to expand equipment capacity
South Korean company JP Innovation makes custom equipment for advanced materials production, including equipment used in semiconductor and battery manufacturing.
Founded in 2009, it also supplies industries such as pharmaceuticals, biotechnology, cosmetics and precision chemicals.
Its equipment mixes, reacts, filters and dries materials, and one product mixes metals used in battery electrodes.
The company said sales rose 139% to 56.3 billion won last year, while operating profit increased to 6.168 billion won.
Chief executive Lee Je-han said the company plans to build new factories in Hwaseong and Anseong, South Korea.
Both factories are planned for completion in 2028, when the company expects annual production capacity to reach 200 billion won, about four times its current level.
It is also developing its ability to handle larger projects and exploring work in areas including nuclear power and supercritical processing.
JP Innovation plans to build new factories in Anseong and Hwaseong, South Korea, to expand its production capacity for specialized process equipment.
The company says the factories are expected to be completed in 2028 and enable annual production capacity of 200 billion won, about four times its current sales.
JP Innovation supplies equipment to industries including semiconductors, batteries, pharmaceuticals and biotechnology.
Its sales rose 139% to 56.3 billion won last year, while operating profit increased to 6.168 billion won.
- Who
- JP Innovation, a South Korean manufacturer of specialized process equipment.
- What
- It plans to build new factories to expand production capacity.
- When
- The factories are expected to be completed in 2028.
- Where
- Anseong and Hwaseong, South Korea.
- Why
- To raise production capacity and improve its ability to make large process equipment and meet delivery schedules for medium- and large-scale projects.
This story does not have two clearly opposing sides.
JP Innovation was established, initially growing through the manufacture of reactors for synthesizing raw materials.
The company recorded sales of 56.3 billion won, up 139% from the previous year.
Chief executive Lee Je-han said the company planned to build new factories in Anseong and Hwaseong.
The new factories are expected to be completed.
- Planned factory area
- About 10,000 pyeong in total
- Planned locations
- Anseong and Hwaseong, Gyeonggi Province
- Expected completion
- 2028
- Target annual production capacity
- 200 billion won
- Last year's sales
- 56.3 billion won
- Last year's operating profit
- 6.168 billion won
1 source
What people are saying
We plan to build new factories with a total area of about 10,000 pyeong in Anseong and Hwaseong, Gyeonggi Province.
When all the new factories are completed in 2028, we will have annual production capacity of about 200 billion won, roughly four times our current sales.