Samkee

Samkee, founded in 1978, is an aluminum die-casting specialist supplying automotive engine, transmission and EV parts through an integrated production system.

According to the company, it currently develops and produces die-cast products spanning engines, transmissions and vehicle bodies, and has expanded its overseas revenue base since winning a Volkswagen order in 2013 and starting a China plant in 2014.

Based on 2022 revenue, engine parts, transmission parts, EV parts and other items accounted for roughly 28%, 39%, 31% and 2% respectively, indicating that internal-combustion-related parts remained the largest segment while EV parts were gradually expanding.

Key customers include Hyundai Motor Group, LG Energy Solution and Volkswagen. In 2020, Samkee spun off its EV battery parts division to establish Samkee EV (now Samkee Energy Solutions), which mainly produces battery-module protective end-plates and BMS cables and is separately listed on KOSDAQ.

More recently, the company has leveraged its precision mold, casting and machining know-how accumulated from auto-parts production to expand into ultra-large die-casting (gigacasting) and lightweight structural components for humanoid robots.

In terms of competitive positioning, several domestic parts makers hold similar aluminum die-casting technology, but no other Korean parts supplier is currently assessed as having the integrated gigacasting capability spanning large molds and heavy equipment operation.

This diversification can be seen as part of a strategy to shift the revenue center of gravity away from internal-combustion parts toward electrification and robotics components.

Samkee's annual revenue rose for four consecutive years, from KRW 524.1bn in 2022 to KRW 537.4bn in 2023, KRW 542.1bn in 2024 and KRW 570.5bn in 2025. Profitability, however, moved differently from revenue growth.

In 2022 the company posted operating profit of KRW 11.47bn yet swung to a large net loss attributable to owners of KRW -29.6bn; in 2023 it returned to profit with operating income of KRW 7.81bn and owners' net income of KRW 6.35bn.

In 2024, operating profit slipped to KRW 5.14bn and owners' net income turned negative again at KRW -2.85bn, while in 2025 operating profit rose to KRW 8.28bn but owners' net income remained negative at KRW -6.65bn.

On a quarterly basis, 2025Q2 (revenue KRW 143.47bn, operating profit KRW 5.71bn) and 2025Q3 (revenue KRW 147.97bn, operating profit KRW 4.04bn) stayed profitable, but 2025Q4 deteriorated sharply with revenue of KRW 144.36bn, an operating loss of KRW 5.19bn and an owners' net loss of KRW 7.63bn, and 2026Q1 continued the trend with revenue of KRW 148.58bn, an operating loss of KRW 3.74bn and an owners' net loss of KRW 6.25bn.

In 2026Q2, revenue jumped to KRW 175.95bn, well above the prior quarter, and operating profit turned positive at KRW 1.16bn, though owners' net income was still slightly negative at KRW -0.44bn, short of a full recovery.

The gap between total net income and owners' net income in the consolidated statements (for example, 2025's total net loss of KRW -10.34bn versus owners' net loss of KRW -6.65bn) reflects loss-sharing by non-controlling interests in subsidiaries such as Samkee Energy Solutions, which cushions the consolidated bottom line from subsidiary weakness while also requiring separate attention when assessing the core business's performance.

On the demand side, domestic auto exports recently hit a record high amid rate cuts and supply-chain stabilization, while EV sales showed several consecutive months of growth.

At the same time, the ESS market is expanding rapidly on the back of renewable energy adoption and growth in AI data centers, lifting demand for lightweight components based on aluminum die-casting.

Indeed, for the nine months through the third quarter of 2025, Samkee's consolidated revenue grew 5.0% year over year while operating profit surged 510.8% and net income turned positive, suggesting the sector's improving conditions were reflected in results during that period.

Structurally, Tesla and Chinese EV makers have adopted gigacasting methods that mold an entire vehicle body in one piece, and Hyundai Motor Group is likewise pursuing a dedicated plant for a process it calls hypercasting, indicating this technology is quickly becoming a standard.

Such a process shift is seen as enabling large body structures, traditionally made from dozens of parts and processes, to be produced as a single component, contributing to simplified processes, lower costs and improved EV driving range.

In addition, in the humanoid robotics industry, Tesla is set to begin initial Optimus production during 2026 and Hyundai Motor Group is preparing to operate a Robotics Metaplant Application Center in Georgia, signaling a move toward the mass-production phase and creating new supply-chain entry opportunities for parts makers with lightweighting and precision-machining capabilities.

Still, converting these technology shifts into actual orders and revenue depends on several variables, including automakers' and robot makers' mass-production schedules and customer qualification processes.

In January 2026, Samkee became the first Korean parts maker selected to carry out a state-funded technology project applying gigacasting (ultra-large die-casting) to body process innovation, and plans to use this to expand its development capabilities for various body, chassis and battery components beyond the underbody.

In robotics, after being selected in June 2026 as a developer of upper-body skeletal frames for a global robotics company's humanoid, the company completed mold delivery for the upper-body frame and began prototype production in September 2026, following mold-making, casting simulation and post-processing review.

The company stated it plans to pursue initial-volume supply after prototype evaluation and eventually convert this into mass-production orders, and said it is also researching humanoid lower-body structures and actuator housings.

It is jointly pursuing entry into robot battery components with affiliate Samkee Energy Solutions, indicating a group-level expansion effort to secure both frame and battery electronics capabilities.

The battery-parts subsidiary has signed an end-case supply contract worth about KRW 65bn with BlueOval SK running from January 2026 through the end of 2030, and has begun diversifying its customer base with a first product shipment to Hyundai Motor via its North American entity.

That subsidiary, however, previously saw both revenue and operating profit decline during a period of EV market weakness, so the pace of demand recovery among automakers and battery makers remains an important variable for future results.

Overall, the company's medium-term outlook appears to hinge on a recovery in the profitability of its existing internal-combustion and EV parts business, together with how quickly the new gigacasting and humanoid robotics business lines convert into actual orders and revenue.