Smart New Factory Completion Imminent… Innovative Growth Continues > Press Release

Elpowertech's Special Transformer

2018. 11. 28 (Wed)

(Quality Management Special) Elpowertech

Smart New Factory Completion Imminent… Innovative Growth Continued

Elpowertech (CEO Choi Seong-kyu), a transformer and switch manufacturer, will complete its new factory in the Hwaseong Bio Valley Industrial Complex in Gyeonggi Province within the year. It boasts a land area of 16,000㎡ (approximately 5,000 pyeong) and a building area of 9,000㎡, the largest after a large company in the heavy electric industry. Elpowertech plans to sequentially relocate its headquarters and production lines to the new factory, in which it invested a total of 15 billion won. The construction of the new factory is the starting point for Elpowertech's long-standing plan to organize its portfolio around three axes: transformers, switches, and systems. Choi Seong-kyu, CEO of Elpowertech, said, “The plan that we have been pursuing for a long time to diversify our product line and sales channels is gradually being completed,” and added, “We will move ahead of others to discover new markets and develop future items.”

In addition to the existing transformer and switch product line, the new factory plans to focus on producing items for market diversification, such as eco-load switches, transformers for OLED inverters, power supplies for semiconductors, Scott transformers, and solar power transformers.

In particular, the new factory is being promoted as a ‘smart factory.’ With the factory relocation, Elpowertech plans to improve its overall management level and promote step-by-step innovation activities from the perspective of optimizing business management. The goal is to achieve a 50% increase in productivity, logistics optimization, and on-site basics through 3-Jung (genuine, quantitative, and correct location) and 5S (organization, ordering, cleaning, cleanliness, and habituation) activities in the first stage, and a 50% increase in process quality and waste elimination in the second stage, and to enter the top tier through sales expansion and implementation of flow production optimization in the third stage. The plan is to establish a product warehouse operation system and standardization and systemization of logistics work through material warehouse layout, inventory reduction, and on-site material supply system. CEO Choi emphasized, “If a group of wolves led by sheep fights a group of sheep led by wolves, the sheep led by wolves will win,” and “How you frame the market and how you take leadership and strategy will determine victory or defeat.” Elpowertech, which achieved sales of 20 billion won and exports of 10 million dollars in just 15 years since its establishment, is evaluated as the most innovative company in the heavy electric industry. Preemptive investment, strong belief in innovation and talent development are CEO Choi's management philosophy and the driving force behind Elpowertech's unstoppable growth and progress. Elpowertech plans to focus its capabilities on forming an optimal portfolio by market, including exports and civilian and irrigation, and by equipment, including transformers, switches, and systems. This is because of the sense of crisis that if it fails to continuously discover and develop new niche markets, it will inevitably be eliminated at some point. CEO Choi said, "In order to actively cope with the increasingly fierce competitive environment and achieve sustainable growth, we must continuously improve and innovate our manufacturing and management structure," and pledged, "We will continue the success story by evenly balancing the three pillars of innovation, people, and future investment."

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

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