DAEWON KANGUP CO., LTD.

• Company Name : Daewon Kangup Co. Ltd.
• CEO : Jaechul Hur / Byeongwoo Yu
• Type of business : Manufacturing of new steering and suspension systems for automobiles
• Business contents : Vehicle springs, machine parts, seats, tire chains, synthetic resin products, railroad spikes manufacturing, wholesale
• Form of company : Major company, 1000 Fortune company
• Established dated : 1946.Sep. 20th
• Number of Employee : 797  (2021)
• Sales turnover : KRW 275,342,776,149 (2021. Aug)
• Capital : KRW 31,000,000,000 (2021. Aug)
• Business Profit : KRW -4,461,292,124 (2021. Aug)
• Representative Tel. +82-41-520-7500
• Web site : http://www.dwku.co.kr/
• Address : 114-41 Osong 1-gil, Seonggeo-eup, Seobuk-gu, Cheonan-si, Chungcheongnam-do, Republic of Korea

Company Overview

Daewon Kang Up Co., Ltd. is Korea’s only comprehensive spring manufacturer with more than 80 years of experience in the automotive and industrial spring industry.

Founded in 1946, the company has developed an integrated production system covering material development, spring design, manufacturing, equipment fabrication, testing, and technical consulting. Through continuous investment in technology and quality management, Daewon Kang Up has grown into a global supplier serving major automotive manufacturers including Hyundai-Kia, GM, Chrysler, Volkswagen, and other international OEMs.

The company operates global manufacturing and R&D networks across China, the United States, India, Poland, Russia, and Mexico, supplying high-quality spring and seating products worldwide.

Daewon Kang Up maintains international quality standards through various management system certifications and continues to strengthen its position as a leading supplier of automotive suspension systems, precision springs, and seating systems.

Global Operations

Daewon Kang Up has established a worldwide business network through manufacturing facilities, subsidiaries, technical centers, and sales offices located in:

• South Korea
• China
• India
• United States
• Germany
• Mexico
• Russia
• Poland

The company has also entered into technology licensing agreements with partners in South America, China, and Europe, contributing Korean spring manufacturing technology to international markets.

Certifications & Awards

• ISO/TS 16949 Certification
• ISO 22301 Business Continuity Management System Certification
• IRIS (International Railway Industry Standard) Certification
• World Class 300 Company
• Multiple GM Supplier Excellence Awards
• Hyundai-Kia Motors Supplier Grand Prize
• Silver Tower Order of Industrial Service Merit
• Gold Tower Order of Industrial Service Merit
• USD 300 Million Export Tower Award

History of Daewon KangUp Co., Ltd.

2024

• Appointed Min-Hee Park as Chief Executive Officer

2023

• Incorporated into the Hyundai Department Store Group as a restricted cross-shareholding business group

2022

• Appointed Hang-Soo Kim as Chief Executive Officer
• Former CEO Jae-Chul Hur retired

2021

• Former CEO Byung-Woo Yu retired
• Former CEO Seung-Ho Hur retired

2020

• CEO changed from Seong-Yeol Gak to Byung-Woo Yu

2019

• Obtained ISO 22301 Business Continuity Management System Certification

2017

• Opened Warehouse in Anantapur, India
• Established China R&D Center
• Opened Chongqing Office in China

2016

• Celebrated 70th Anniversary
• Relocated Changwon 2nd Factory to Haman
• Developed and began production of KR Rail Clips

2015

• Established Daewon Mexico S. de R.L. de C.V.

2014

• Russian subsidiary renamed Daewon Spring & Seat LLC
• Selected as World Class 300 Company
• Awarded Silver Tower Order of Industrial Service Merit

2013

• Relocated Headquarters to Cheonan
• Completed New Cheonan Manufacturing Plant
• Received IR52 Jang Young-Sil Award

2012

• Awarded USD 300 Million Export Tower
• Established Jiangsu Daewon Asia Automobile Spring Co., Ltd.

2011

• Signed MOU for New Cheonan Factory Construction
• Opened Frankfurt R&D Support Office, Germany

2010

• Awarded Gold Tower Order of Industrial Service Merit
• Received GM Supplier Excellence Award for the 4th Consecutive Year
• Obtained IRIS Railway Industry Certification

2009

• Established Daewon Sollers LLC in Russia
• Received Steel Tower Order of Industrial Service Merit
• Awarded Hyundai-Kia Motors Supplier Grand Prize

2008

• Awarded USD 200 Million Export Tower
• Established Daewon Kang Up Partners Council
• Received GM Supplier Excellence Award

2007

• Established Daewon India Autoparts Private Limited
• Opened Detroit R&D Support Office, USA
• Received GM Excellent Cooperation Award

2005

• Relocated Daewon Technology Research Institute to Bupyeong

1999

• Stopped Operations at Incheon Factory

1998

• Relocated Juan Factory

1997

• Relocated Seonghwan Factory

1996

• Established and Began Operations at Cheonan Factory

1995

• Opened Hannover Liaison Office, Germany

1994

• Relocated Changwon 2nd Factory

1989

• Began Operation of Coil Service Center

1987

• Relocated Cheonan Factory

1986

• Established Daewon Technology Research Institute
• Completed Cheonan Factory Construction

1984

• Relocated Headquarters to Jung-gu, Seoul

1983

• Established U.S. Liaison Office
• Established Milan Liaison Office, Italy
• Relocated Incheon Factory

1979

• Relocated Changwon Factory

1977

• Became a Publicly Listed Company

1975

• Relocated Chain Factory to Bupyeong Export Industrial Complex

1972

• Designated as a Defense Industry Company

1969

• Expanded Spring Plant and Established Rolling Mill

1968

• Registered as a Special Enterprise under the Machinery Industry Promotion Act

1964

• Started Overseas Export of Springs (Vietnam)
• Designated as an Export Production Company by the Korean Government

1963

• Relocated Factory to Oryu-dong

1958

• Relocated Factory to Dangsan-dong

1946

• Founded as Daehan Steel Co., Ltd. in Seoul

Main Products

Suspension Springs

• Coil Springs
• Stabilizer Bars
• Torsion Bars
• Leaf Springs
• Air Springs

Precision Springs

• Engine Valve Springs
• Auto Clutch Return Springs
• Curved (Arc) Springs
• Various Wire Springs
• Springs for IT Components

Industrial Springs

• Die Springs
• Disc Springs
• Coil Inserts
• Tension Bar Connections

Automotive Seats

• Passenger Vehicle Seats
• Railway Vehicle Seats
• High-Speed Train Seats
• Heavy Equipment Seats

Seat Mechanisms

• Recliners
• Adjusters
• Pumping Devices
• Active Headrests
• Magnesium Frames
• Seat Assemblies

Spring Materials & Manufacturing Equipment

• Round Steel
• Flat Steel
• Material Processing
• Piping
• Spring Manufacturing Equipment
• Engineering Services