Change & Chance: Woojin M&E (21.03.03)
“HiMart of the electric industry… Grew into a platform company beyond distribution
Provides one-stop services from R&D to installation, test run, operation, and maintenance.
Sales exceeds KRW 250 billion including electricity quality services and renewable energy solutions based on electricity devices
Woojin M&E is an integrated platform company for industrial electricity devices providing product supply and solution engineering on over 30 thousand items in four areas such as electricity quality, electricity system, electricity devices and renewable energy.
In short, we can describe Woojin as the ‘HiMart of the electric industry.’ However, the company does not just sell items but takes the responsibility from R&D to installation, test run, operation, and maintenance as a platform company mediating the producer and the customer.
That is, in the past, when we refer to a distribution company, we regarded them as one which simply takes goods from manufacturers and sells them. However, now it is much more important to provide customized services to advise customers for ing needed products via consultations and performing maintenances after selling the products.
Recently, with the increase of product groups which adopts semiconductors such as UPS and voltage compensator, maintenance services are becoming more and more important. This is because semiconductors have a limited lifespan of 3 to 5 years, making maintenance as an essential service item not just selling products.
Woojin M&E, established in 1984, has worked for the electric industry only for the last 37 years, writing the history of the Korea’s electric industry.
In the beginning, Woojin dealt with electric devices such as switch, circuit breaker, protection relay, etc. However, based on those products, the company is expanding its area to electricity system such as equipment for power plants and ultra high voltage substations, generator and motor drive equipment, bus duct, remote metering system, ESS, etc. and solutions for electricity quality such as UPS, AVC, AHF, etc. as well as renewable energy solutions such as solar power and wind power equipment.
Due to the vast variety of items, Woojin M&E deals with a variety of products from lots of global manufacturers including Toshiba, ABB, Schneider Electric, Siemens, etc. as well as Korean companies such as LS Electric, Hyundai Electric, Hyosung, Hanwha Q Cells, and Vitzro Tech.
It is also Woojin’s role to supply those products to large Korean companies and construction companies including Samsung, SK, Hyundai, etc.
Woojin created new value-added via advisory and consulting services to customers by enhancing customized engineering capabilities. This led the situation where major customers are now seeking for purchasing products and solutions via Woojin M&E’s consulting.
Also, in the past, Woojin had to ask manufacturers to allow them to sell the products. Now, however, manufacturers are asking Woojin first as the company is recognized of its technology and marketing capabilities in the industry.
As the recognition in the industry is enhanced, Woojin’s sales volume is increasing every year, amounting over KRW 250 billion.
Woojin M&E also seeks for entry into a variety of areas such as hydrogen as well as renewable energy for creating new business area for the future.
Woojin M&E’s CEO Jang, Chang-Ik says, “It means the trust to and status of Woojin have enhanced that there are not just more customers but also more global manufacturers entering into a product supply agreement with us.” He added, “We will continue to diligently perform the role as a total energy platform to develop the Korean electricity industry and customer satisfaction in the future as well.”