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1 trillion club autonomous-driving leading company MCNEX' nests in Songdo

Performance of attracting investment from globalcompanies in the future car industry

The achievements of attracting investment from global companies in thefuture car industry, which Incheon City is focusing on as a key strategicindustry for the future, are gradually becoming visible.

The city announced that MCNEX, a leading autonomous-driving company thatjoined the 1 trillion club in sales and the city succeeded in attractinginvestment last year, had completed the relocation of its headquarters andresearch center to Songdo and started work on the 4th.

▲ The city announced that MCNEX, a leading autonomous-driving company thatjoined the 1 trillion club in sales and the city succeeded in attractinginvestment last year, had completed the relocation of its headquarters andresearch center to Songdo and started work on the 4th. The picture is a view ofMCNEX's Songdo office building (headquarters).

MCNEX is a leading company in autonomous driving technology that developsand produces image sensing autonomous driving systems including electroniccomponents such as mobile camera modules, biometric sensors, and vehicle cameras,and it is a listed company on the KOSPI that achieved annual sales of KRW 1trillion as of last year.

In particular, in the field of vehicle cameras used in autonomous drivingtechnology, it has the largest market share in Korea and the fifth in theworld, and is also prominent in the field of biometric technology sensors.

In October of last year, the city signed an investment attraction businessagreement with MCNEX to relocate the headquarters and research center in GasanDigital Complex, Geumcheon-gu, Seoul to Songdo, and to foster and develop thefuture car parts industry through autonomous driving technology R&Dcooperation, etc.

▲ Autonomous-driving car developed by MCNEX (image provided by MCNEX)

After that, MCNEX purchased a new building with a total floor area of​​27,870 m² (1 basement level – 13 above ground) in Songdo Free Economic Zone(Section 7) in Incheon, relocated the head office and research center, and completedthe corporate registration procedure on the 4th after passing the resolution ofthe general meeting of shareholders on the change of the location of the headoffice.

MCNEX uses the Songdo office building as a strategic base forstrengthening R&D (research and development) and global marketing in themobile and autonomous driving sector, and is currently strengtheningcollaboration with customers, and it is preparing for a new leap forward alongwith strengthening the foundation for sustainable growth.

MCNEX's earnings growth slowed down for a while last year due to thesluggishness of downstream industries due to the shortage of semiconductors andthe spread of Corona 19, but this year, camera module sales are expandingthanks to the increase in smartphone sales of Samsung Electronics, a majorcustomer. In addition, it is expected that the company will enter a high-growthzone due to the increase in sales related to autonomous driving such asadvanced driver assistance systems (ADAS), and thus the overall sales andoperating profit are expected to increase significantly.

▲ MCNEX Co., Ltd.'s autonomous-driving car promotional image

An MCNEX official said, “Incheon, which is transforming into the cradle offuture industries such as future cars, robots, and artificial intelligence, iseasy to expand business through infrastructure expansion and is the best placeto create R&D synergies with related companies.” And he also added, “Weplan to select outstanding talents in Incheon through the operation ofemployment-related programs with local universities."

As the global automobile market centered on internal combustionlocomotives is rapidly changing centered on future vehicles such as electricvehicles, the city established a five-year comprehensive plan for fostering thefuture car industry ('22~'26) in January to lead the re-jumping of the Incheonautomobile industry, which is facing a recession, and is promoting variousprojects.


 

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