Shinchang 

Shinchang Electric Company had been merged in 2011 by Seoyon Group but I decided to post about this company because I saw the company name several time on Hyundai/Kia remote keys. 

Actually it’s a bit interesting because I found the news dated in 2010 that Shinchang Electric got a bit order for Hyundai/Kia and the article described that the company is doing well. (Of course, I cannot say that “Merge” means “not doing well”… )
Here the link of article about Shinchang : http://biz.heraldcorp.com/common_prog/newsprint.php?ud=20101006000172

According to the above article, Shinchang got request from Hyundai/Kia and they had developed 6 kinds of smart keys, order amount about 14 million dollars. 

But in 2011 Seoyon Group acquired Shinchang. You can find the history in Seoyon Group website : http://seo-yon.com/en/history/

Wondering why the president of Shinchang decided to sell the company to Seoyon, although he had a hug about of order for providing to Hyundai/Kia.

If you visit the website KAICA (Korea Auto Industries Coop. Association, http://www.kaica.or.kr/eng/index.php) you can find many information about Korea auto parts supplier.

Unfortunately some company information is not translated. 

By the way I found the history of Shinchang in this web : http://www.kaica.or.kr/industry/iso_view.php?cmpny_idx=78

  • In 1978 Jan. Shinchang Electric Corp. established.
  • In 2011 Dec. the biggest share holder changed to Hanil E Hwa (=Seoyon)
  • In 2012 Aug. changed the company name to Daedong
  • In 2015 Dec. changed the company name to Seoyon Electronics.

Regarding Seoyon Electronics, I posted here :

SEOYON ELECTRONICS

Now I compare the company history, it is matched quite. But I’m still thinking Shinchang and Seoyon were different companies. What your opinion?

The main items of Shinchang(now Seoyon Electronics)