Myunghwa

We are making efforts to become a global leader in the auto parts industry, such as expanding export markets by building trust with clients and developing advanced technology. We established overseas plants in China in 2002 and 2010, in India in 2007, and in Mexico in 2015 to provide better service to our clients and have been actively advancing into foreign markets. Moreover, we are focusing our attention on developing technology and optimizing design to meet the needs of the car industry, and investing much in the development of new technologies and techniques. We are capable of overcoming obstacles because of our years of experience, making new changes, and challenging ourselves. All this will help us be prepared for the next century.

In 1987, our factory in Ulsan started operating and in 1992, we manufactured knuckles for Grandeur car models domestically for the first time as we installed the latest equipment and machinery, and automated factory work. In addition, we introduced the concept of assembly instead of producing each auto part. And we developed and produced accel Assembly, hubs and knuckles. We established a research and development center in 1991 to manufacture auto parts domestically and to develop auto parts with our own technology. We have improved technological competiveness in the global market by focusing on research and development. And now the company is playing a leading role in engine operation and chassis technology.
During the IMF crisis, the company was nearly forced out of business and some of our factories were on the verge of being shut down. But, we overcame the crisis by reforming management with the labor union and the company without laying off large numbers of workers. And the company has been revitalized and has laid a foundation for a new start.

Myunghwa has been keeping its eyes on advances in the machine industry because the advancement of the car industry leads to the growth of the machine industry. We assumed that the auto parts industry would also grow. So, we decided to transform our industrial pump business into an auto parts business in 1972. At that time, with the government’s plan to begin production of domestic cars within 3 years, Kia Motors assigned the project of producing domestic brake drums to Myunghwa. After that, we joined the project of developing and producing water pumps for Kia Brisa and oil pumps for domestic vans. In addition, we took part in developing hubs, which are the core part of brakes for the Pony car. The car model became popular, which in turn helped us overcome the first oil crisis. Later, Myunghwa took over hub front lines for the Hyundai Excel and built a factory in Ulsan in 1986, which enabled the company to supply products to overseas and domestic clients on time, thus fostering trust with them.

In 1950s after Korean War, Korea was developing industry by supporting USA. Under the poor infrastructure of industry, In 1957 Myunghwa started pump making business for developing people`s life and national industry. Pump technology can be improved extensively by technical development and customer requirement. The history of Myunghwa will go together with korean machine industry growth and technical globalization.