South Korea succeeds in reducing dependence on China for rare earths.
Permanent magnets for HEV/EV motors [Product Description] - High-performance rare earth magnets used not only in eco-cars (HEV, EV) but also in wind power and hard disks. - Due to the characteristics of the product, high technical capability and securing the supply of rare earth materials are key factors, and our company is the only one in Korea with competitive advantages in this area, and one of the few internationally. - In 2013, we succeeded in domestic production of HEV traction motor magnets (Hyundai Motor). - In 2022, we supplied 70% of Hyundai Motor's HEV motors. - In 2023, we began mass production of EV traction motor magnets produced using the grain boundary diffusion method. * Grain boundary diffusion method: We hold patents related to technology that enhances magnetic properties with a small amount of expensive heavy rare earths.
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[Company Overview] - Company Name: Sonrim Advanced Industries (STAR GROUP IND.) - Established: 1994 - Location: 49, Dalseo-daero 85 gil, Dalseo-gu, DAEGU, KOREA - Number of Employees: 170 - Revenue: 142.5 billion won - Major Export Countries: South Korea 82%, Thailand 10%, Vietnam 5%, United States 3% - Certifications: ISO9001, ISO14001, IATF16949 - Overseas Factory: Henan Province, China - Sonrim Advanced Industries Co., Ltd., with 30 years of history, produces rare earth permanent magnets. - The company primarily manufactures magnets for HEV/EV drive motors, which are at the core of the future automotive industry, and holds patents related to grain boundary diffusion and heavy rare earth reduced rare earth magnets. - Production lines are located in Daegu and Huanfeng, with a new factory in Vietnam scheduled for completion.
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[Sales Point] 1. Heavy rare earth reduced rare earth magnets: Magnets developed to maintain the same level of magnetic coercivity while reducing the use of heavy rare earths by 50-80%. Utilizing grain boundary diffusion technology or particle refinement technology. 2. First in South Korea to successfully reduce dependence on Chinese rare earths, with a factory being built in Daegu. It is rare in the world to establish a supply chain management (SCM) that reduces dependence on China. 3. Manufacturing and delivery possible according to customer needs (specifications). 4. Currently researching the recycling of raw materials.
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KOTRA (Korea Trade-Investment Promotion Agency) is a government agency established under the Ministry of Trade, Industry and Energy (equivalent to Japan's Ministry of Economy, Trade and Industry) to promote trade and attract investment. The KOTRA Japan Regional Headquarters focuses on promoting exports for Korean small and medium-sized enterprises and attracting foreign companies to invest in Korea (such as establishing factories and mergers and acquisitions).
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