South Korea Business Report

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Jinhap bolsters support for Asia’s fastening and automotive industries

South Korean fastening maker celebrates product breakthroughs, opens third base in China, and plans India

PUBLISHED : Wednesday, 25 October, 2017, 10:36am
UPDATED : Wednesday, 25 October, 2017, 10:36am

Excited about its breakthroughs as a specialist in automotive fasteners, cold formed and machined parts, Jinhap is strengthening its commitment to Asia with a third subsidiary opening in China by the end of this year. The company is also planning its first factory in India.

A global full-range fastening solutions provider and tier-1 chassis supplier since 1978, Jinhap heavily relies on research and development to create new applications and technologies such as its ultra-high-tensile fasteners.

As a partner of the Global Fastener Alliance, Jinhap combines its expertise with insights from fellow members to develop highly customised solutions that answer customers’ needs.

We differentiate ourselves by following market trends and finding out the real needs of our customers
Lee Won-joon, CEO, Jinhap

“We differentiate ourselves by following market trends and finding out the real needs of our customers,” says CEO Lee Won-joon.

Foreseeing the need for light-weight parts and smarter cars, Jinhap developed solid expertise in producing light-weight materials, sensors cases, electronic control unit fasteners, electronic actuators and cold-formed machine parts with advanced technologies.

Over the last four decades, Jinhap has earned the trust of key global players such as Hyundai, Kia, Denso, Bosch, Brose, ZF TRW and Ford – thanks to its track record of quality, cost efficiency and timely delivery. With more than 70 per cent of its production handled in-house, Jinhap maintains tight control over quality levels and ensures continuous improvement of processes and technologies.

Jinhap is interested in sharing its know-how and long-lasting experience with local Asian automotive players. The company is a staunch advocate of the idea that investing more in the fastening material, which is about 20 per cent of the total cost, can generate important savings in the overall fastening managing cost, or the remaining 80 per cent. “We try to persuade our customers with the 80-20 approach and many of them agree with our idea,” Lee says.

Focusing on safety-related parts so far, Jinhap is diversifying into more complex automotive parts, and also eyeing growth opportunities in aerospace.