Korea PIM, a company with MIM (metal injection molding) technology, announced on the 6th that it has passed the preliminary screening for listing on the KOSDAQ by the Korea Exchange. MIM is a next-generation metal molding technology that is attracting attention in cutting-edge industries such as autonomous driving, robotics, and IT (information technology) due to its various advantages.
Founded in 2001, Korea PIM produces a variety of industrial products based on its proprietary MIM technology. MIM is a manufacturing technology that uses metal powder to create precision metal parts through injection molding and sintering, rather than casting or machining. Its advantage lies in its ability to mass-produce complex and precise metal parts using a variety of materials.
Korea PIM's client base includes global auto parts companies BorgWarner (US), IHI (Japan), and Valeo (France), as well as major domestic companies Hyundai Transys, LG Innotek, and HL Mando. Since 2019, the company has successfully diversified its business by supplying titanium parts to Osstem Implant, Korea's leading dental implant company.
Korea PIM has been generating stable sales and profits based on its supply references to global auto parts companies. As of 2023, it recorded sales of KRW 38 billion and operating profit of KRW 4.3 billion.
Korea PIM plans to accelerate its performance growth by expanding the application of its MIM technology to high-value-added industries such as autonomous driving, robotics, and IT. Last year, it received a development request from a leading domestic camera module manufacturer and supplied autonomous driving components. It is also developing next-generation autonomous driving components. Furthermore, based on its titanium component manufacturing technology developed through a national project, the company is expanding its application to IT, robotics, electric vehicles, and aviation.
Korea PIM began supplying smartwatch products to top-tier global smartphone manufacturers last year. Customer testing of new products for smartphones and smart rings is underway, and mass production is expected within the year. The company explained that it will accelerate the expansion of its new business by investing the funds secured from its KOSDAQ listing in building titanium powder manufacturing facilities for MIM, expanding its component manufacturing lines, and expanding its dedicated IT component plant within its Vietnamese subsidiary.
A Korea PIM official said, “MIM is a next-generation metal precision parts manufacturing technology that combines traditional metal powder sintering technology with plastic injection molding,” adding, “It is characterized by its ability to maintain high mechanical properties compared to existing manufacturing technologies, and its superior productivity and cost competitiveness. In addition, it is customizable, making it applicable to various industries.”
He continued, “Based on our long-accumulated MIM technology, we will maximize the cost competitiveness of titanium, a material with oxidation resistance, high strength, and light weight, and conquer the global market.” He added, “We will actively expand into new businesses such as autonomous driving, electric vehicles, IT, and healthcare, while simultaneously pursuing advancements in MIM technology and process automation to become a global top-tier company in the MIM field.”
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