Company history
2000~Present
Establish a foundation for a global leap forward through technological innovation and overseas expansion. Myunghwa Industrial Co., Ltd., which has begun to pioneer overseas markets, is advancing as a global auto parts company by expanding export markets thanks to its excellent technology and reliability. To actively target overseas markets and provide better services to our customers, we established overseas corporations, including Wuxi Corporation in China in 2002, India Corporation in 2007, Beijing Corporation in 2010 and Mexico Corporation in 2015. In particular, we are concentrating our capabilities in optimal design and technology development to actively meet the needs of the automobile industry, and we are concentrating our management resources on the development of new technologies and construction methods and active investment. Myunghwa Industry will prepare for the next 100 years of Myunghwa Industry with the capabilities and experience to overcome various crises and the spirit of new changes and challenges.
1987~1999
Growth and overcoming crises based on technology and trust
In 1987, the Ulsan plant began operating on a full scale, installing the latest mechanical equipment and implementing automation, and in 1992, knuckles for the Grandeur were produced in the country for the first time. Furthermore, by introducing the concept of assembly instead of a single product, we develop and produce an axle assembly that combines journals, bushings and discs. To localize parts and ensure independent development capabilities, we established a technology research center (1991), ensure global technological competitiveness through continuous research and development and have established ourselves as a leading market player in engine transmission sectors. and chassis. In the IMF era, we were forced to consider closing some business sites and reorganizing our business, but we overcame the crisis through thorough management improvement between workers and management to normalize management without restructuring, regaining our previous vitality. and laying the foundations for a new leap forward.
1972~1986
Establish a foundation for growth by leaping forward as an auto parts specialist and locating parts.
Myunghwa Industrial Company has closely followed the environmental changes in the machinery industry, and the machinery industry has grown by focusing on the automobile industry. Consequently, we predicted that the auto parts industry would grow together and after much deliberation, we changed from industrial pump business to auto parts business in 1972. At that time, Kia Motors entrusted the local production of drum parts of braked Myunghwa Industrial in accordance with the government's 'Three-Year Automobile Localization Plan', and subsequently participated in the local development of the water pump for 'Brisa' and the oil pump. for 'Bongo', which are exclusive Kia Motors models. I did it. Furthermore, by developing a hub, a key brake component for the 'Pony', Korea's first original model, we were able to overcome the crisis of the first oil crisis thanks to the sensational popularity of that model, and subsequently developed the first-class hub line. Hyundai Motor Company's 'Excel' Myunghwa Industrial, which was in charge, completed the Ulsan factory in 1986 and was able to improve Myunghwa's credit rating by supplying customers with domestic and export quantities in a timely manner.
1957~1971
It began manufacturing industrial pumps essential to human life and industrial development in a wasteland of mechanical industry.
In the 1950s, Korea was a time when post-war recovery projects and industry were gradually developing thanks to the help of the United States after the war and the armistice. At a time when the foundation of the machinery manufacturing industry was practically barren, Myunghwa Industry began manufacturing machinery for pump technology, an important factor in industrial development and the enrichment of human life, in 1957. The technology of pumps is mechanical engineering that can be developed infinitely according to technological innovation and customer demands, and the future history of Myunghwa Industrial Co., Ltd. is in line with the process of localization, technological independence and globalization of the Korean mechanical industry.