"Our core strength at Samyang Comtech is developing and producing ballistic ceramic materials mounted on tanks and the like, and turning them into final parts to the specifications required by systems companies. We have not only the technology but also the speed to meet delivery deadlines. The recent growth of K-defense is possible because of invisible defense corporations like us."
On the 8th, Chief Executive Kim Jong-il, whom we met at Samyang Comtech's Ansung plant in Gyeonggi Province, said this about the company's competitiveness. It reflected confidence that Samyang Comtech is not merely a simple parts supplier but a "core member" supporting K-defense.
Samyang Comtech has been raising its profile with steep growth in results recently. Founded in 1962, the company is a defense specialist corporations that develops and produces ballistic materials and protection structures applied to tanks, armored vehicles, helicopters, and other weapons systems. Last year, it posted 154.6 billion won in revenue and 26.6 billion won in operating profit. Compared with 2023, revenue rose 86% and operating profit jumped 285%. Expanded exports by defense systems companies such as Hyundai Rotem and Hanwha Aerospace, its major customers, translated into stronger results.
◇ From materials to parts production: "one-stop ballistic" edge
Samyang Comtech's core competitiveness lies in its "vertically integrated one-stop production system," spanning from ballistic material development to parts production.
At its Gwangju and Gumi plants in Gyeonggi and North Gyeongsang provinces, it develops and produces ballistic ceramic materials, which it then processes and assembles at the Ansung plant into final ballistic parts. The Ansung plant performs complex processes such as shape machining, lamination, forming, and testing and evaluation, and is a key base producing protection structures mounted on tanks and more.
At the Ansung plant visited that day, production of ballistic parts applied to Hyundai Rotem's "K2 tank" and Hanwha Aerospace's Chunmoo multiple rocket launcher was in full swing. The plant can produce 720 tons of ballistic parts annually.
The plant's technology research center plays a dual role in design and verification. Through modeling and simulation (M&S)-based impact analysis, the center predicts ballistic performance in advance and derives optimal designs. It then applies actual production processes to create prototypes and verifies performance through in-house ballistic tests. It is a structure that carries out the entire process—design, production, and testing—in one go.
Kim said, "While other corporations often focus on one area—either materials or parts—Samyang Comtech carries out the entire process in-house from ballistic material development to design, production, and testing and evaluation," adding, "It's a structure that can quickly develop and deliver to the specifications customers require."
Another strength of Samyang Comtech is its capability to independently develop and produce ballistic ceramics, a core material. This material is produced at the Gwangju and Gumi plants. The Gwangju plant also hosts a ballistic ceramics materials research center.
Ballistic ceramics are characterized by ultra-lightweight and ultra-high strength. At the same weight, they can achieve about eight times the strength, durability, and heat resistance of steel, making them essential for weapons systems such as tanks where mobility is crucial. Kim said, "By designing protection structures that combine composites and special steel plates, we are achieving maximum protection performance at minimum weight."
The business model is evolving in step with the company's growth. In the past, it centered on a "made-to-order" structure, supplying products to the specifications required by systems companies. Recently, it has been shifting to a "joint development" model, participating from the early stages of weapons systems development.
Kim said, "We go in with partners such as Hyundai Rotem from the systems development stage and build the specifications together," noting, "We are shifting toward preparing technology proactively and proposing new products."
Samyang Comtech has also moved to expand production capacity in line with rising demand. It is currently expanding the Gumi plant. Kim said, "After completion in June, the new plant is slated to go into full operation from the end of the year," adding, "The company's overall ballistic product capacity is expected to increase by about 30%."
◇ Expanding into aerospace: "Targeting 300 billion won in revenue by 2030"
Samyang Comtech is widening its business scope beyond defense into aerospace. It is currently pursuing the development of high-heat-resistant, high-strength materials applicable to aircraft, launch vehicles, and satellites by leveraging composite material technology based on ballistic ceramics.
The judgment is that ceramic materials technology can be a competitive edge in aerospace, which must withstand extreme temperatures and pressures. Although the aviation segment currently accounts for less than 10% of revenue, the plan is to grow it into a core pillar over the mid to long term.
Kim said, "Through growth in our existing ground defense business and expansion into aviation, we are targeting 300 billion won in revenue by 2030," adding, "We will leap forward as a global ballistic and protection solutions corporations."