(New Deal Leading Company) Elpowertech > Press release

Written: Tue Dec 29, 2020 14:26 Posted: Tue Jan 05, 2021 10:19

(New Deal Leading Company) Elpowertech

First Year of ICT Integration into Transformers and Switches

Continuing Challenges and Innovations with R&D Competitiveness as a Stepping Stone

Elpowertech (CEO Choi Seong-kyu) has been considered the most notable company in the transformer industry for several years.

It is evaluated that it has laid the foundation for survival in any market environment by significantly expanding production capacity and diversifying its business portfolio.

In particular, it is also a strong export company that is challenging $10 million in exports by making a soft landing in advanced markets for heavy electric equipment such as the US and Japan.

Elpowertech has set a goal of making 2021 the ‘first year of integrating ICT into traditional manufacturing.’

Elpowertech CEO Choi Seong-kyu said, “In the past, even industries that remained in traditional manufacturing can now transform into ICT convergence companies if they adapt well to the trend of the times.” He added, “We will make this year a year in which we deeply explore how to utilize IT, NT, and big data, using our main items, transformers and switches, as platforms, and find solutions.”

Elpowertech is confident that it can lead the New Deal, a hot topic in the electric power industry. This is because of its R&D manpower and investment.

CEO Choi said, “We have always reinvested more than 10% of our annual sales into R&D, and 20% of our total employees are professional engineers,” and emphasized, “Although we have only been in the business for about 20 years, our export performance is outstanding and we are evaluated as a leading company in the industry, and this is due to our R&D competitiveness.”

He also added, “Even in the COVID-19 situation in 2020, our efforts to develop overseas markets bore fruit, and our sales grew by about 30% compared to the previous year,” and “We will not rest on our laurels and continue the momentum in 2021.”

Elpowertech has completed an optimized portfolio consisting of three axes: exports and civil and public water supply by market, and transformers, switches, and systems by device.

In particular, in order to respond to the post-COVID-19 and digital/green new deal, in addition to the existing transformer and switch lineup, a new market item lineup has been established, including eco-load switches, transformers for OLED inverters, power supplies for semiconductors, Scott transformers, and solar power transformers. In order to enter the new energy industry, new licenses for electrical engineering and information and communication engineering have also been acquired.

In the export market, while Japan, Southeast Asia, and the Middle East have been the main markets, the plan is to expand to the North American market, which it successfully entered in 2019, as its main target.

With his extraordinary driving force and leadership, CEO Choi has also been leading the Transformer Business Association, the only organization in the industry, for 13 years.

As the head of the association, he is seeking to enter overseas markets through the formation of an export consortium, and to establish a joint ordering and joint production and joint sales system in the civilian market.

CEO Choi said, “I hope that by the end of the year, our electrical industry professionals will be remembered as having wisely overcome the COVID-19 crisis.” He added, “The moment you despair, you cannot see the end of the tunnel, but if you have hope, you can follow the small light and eventually escape the tunnel. Elpowertech will also not stop challenging and innovating.”