INNOX Advanced Materials(272290) said on Aug. 13 that it will strengthen its aerospace business by expanding material supplies to U.S.-based SpaceX.
INNOX Advanced Materials' accumulated sales from materials supplied to SpaceX from January to July this year surpassed the sales it supplied last year. In particular, starting on the 6th, as SpaceX's purchase orders increased, it has been continuously expanding its material supplies for the aerospace sector.
The products that INNOX Advanced Materials supplies to aerospace corporations such as SpaceX are electromagnetic interference (EMI) carrier tapes. Used in satellite rockets and low Earth orbit satellite projects, these materials block extreme temperature changes and electromagnetic interference.
INNOX Advanced Materials plans to broaden its business scope into next-generation advanced industries, including the aerospace sector, using the expansion of material supplies to SpaceX as a springboard. It is also expanding its portfolio of material products around high-growth areas such as AI Semiconductor and physical AI.
Based on ultra-precision, high-functional film technology, INNOX Advanced Materials focuses on OLED display materials and AI Semiconductor packaging materials as its main businesses. Last year's sales were 439.6 billion won, and operating profit was 81.9 billion won.
An INNOX Advanced Materials official said, "We will continue to expand our business scope into global advanced industries such as AI Semiconductor and space defense to leap forward as a global technical standard materials corporations representing Korea."