Complete transformer/switch distribution portfolio > Press Release

Written: Wednesday, July 19, 2017

(HOT items of successful companies) Elpowertech

Complete transformer and switch distribution portfolio

Elpowertech (CEO Choi Seong-kyu, pictured), a transformer and switch manufacturing company, is evaluated as the most innovative company in the industry. Not satisfied with settling in overseas markets, it continues to invest in new markets and develop future items. Elpowertech, which achieved sales of 20 billion won and exports of 10 million dollars in just 15 years since its establishment, is constantly thinking about how to build the most ideal business portfolio. It is also on track to achieve its sales target of 50 billion won this year. Elpowertech CEO Choi Seong-kyu emphasized, “We are making continuous efforts and investments to form the optimal portfolio by market, including exports and civil and public utilities, and by equipment, including transformers, switches, and systems.” He added, “If a company is not satisfied with the current situation and fails to continuously discover and develop new niche markets, it will inevitably be eliminated at some point.” Preemptive investment, strong belief in innovation and talent development are CEO Choi’s management philosophy and the driving force behind Elpowertech’s unstoppable progress. Elpowertech is also actively considering new entries into the solar power system market. It plans to move its headquarters and production line to a new factory under construction in the Hwaseong Bio Valley Industrial Complex in Gyeonggi Province within the year. The new factory, which is under construction, has a land area of 16,000㎡ and a building area of 9,000㎡ and is pursuing a ‘smart factory.’ Starting this year, it will produce new switches, as well as existing main products such as general oil-immersed transformers, dry-type transformers, and transformers for export. Smart factories, which are intertwined with the 4th industrial revolution, are still considered a concept that is far from small and medium-sized enterprises, but CEO Choi is moving faster than others by receiving manufacturing innovation consulting centered on manufacturing and logistics from experts. CEO Choi emphasized, “It is difficult to properly respond to the changing manufacturing environment with only partial automation.” He added, “In order to actively cope with the increasingly fierce competitive environment and achieve sustainable growth, we must build a smart factory to improve our manufacturing and management structure.” With the factory relocation as an opportunity, Elpowertech plans to improve its overall management level and promote step-by-step innovation activities from the perspective of optimizing business management. The first step is to promote a 50% increase in productivity, logistics optimization, and on-site basic equipment through the 3 Jeong (genuine product, correct quantity, correct location), and 5S (organization, arrangement, cleaning, cleanliness, and habituation). The second step is to improve process quality by 50% and eliminate waste. The third step is to enter the top tier through increased sales and implement optimized flow production. The plan is to also establish a product warehouse operation system and standardization and systemization of logistics work through materials warehouse layout, inventory reduction, and on-site materials supply system. CEO Choi pledged, “We will rise as a comprehensive heavy electric equipment company by building a smart factory in preparation for the 4th industrial revolution and completing an ideal business portfolio.”

Reporter Song Se-jun, Electric Times 21ssj@electimes.com

[This post was copied from the press release (Korea) by the highest administrator on 2022-08-25 11:21:28]