Seojin Systems announced on the 1st through a public notice that it signed a supply contract worth 90.7 billion won with a global energy storage system (ESS) company. This contract is equivalent to approximately 7.5% of Seojin Systems’ sales last year (1.2138 trillion won) and is for the supply of ESS products. The final supply will be to a global ESS company through the contract counterparty.
Last year, Seojin Systems recorded its best-ever performance thanks to the favorable performance of the ESS sector, joining the '1 trillion won sales club'. In particular, through large-scale orders, the company's ESS-related sales increased by 131.8% year-on-year to KRW 636 billion, establishing itself as a key driving force behind the company's performance growth. The company said that it expects significant sales growth this year as well, with the addition of new customers and the launch of new mid- to large-sized ESS products.
In line with the changes in the ESS market, Seojin System is changing from the existing 7-foot ESS container to a large 20-foot container, which provides an efficient system that can output more electricity. As a result, as the physical size of ESS increases, Seojin System’s supply amount is also expected to increase.
A Seojin Systems official said, “Demand for ESS will increase further due to the full-scale activation of the AI industry and the worsening global power shortage,” and added, “We plan to further accelerate performance growth through an aggressive order acquisition strategy going forward.”
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