A Hidden Gem in Tech's Rubber Jungle

October 30, 2025

Presenting another Deep Value Lens net-net company — 70% of net-net

SEOWONINTECH. Co., Ltd.

Balance Sheet

Let's take a look at its financial balance sheet as of June 30, 2025:

Asset / Liabilities	KRW	USD
cash	150.0 billion	105.6 million
accounts receivable	21.0 billion	14.8 million
inventory	13.3 billion	9.4 million
less: total liabilities	-34.4 billion	-24.2 million
net-net	150.0 billion	105.6 million

leaves a Deep Value Lens net-net value of 150.0 billion KRW or 105.6 million USD or 5.67 USD per share. Price per share today? 3.97 USD per share.

Income Statement

Revenues of SEOWONINTECH have softened during the past decade. 369 billion KRW in 2015 down to 229 billion KRW in 2024. The business has remained consistently profitable despite the declining revenues. Gross margin has averaged 9.7% with a profit margin of 5.4% providing for a 7.3% return on assets. Dividends have been paid since 2019 and were 350 KRW or 0.246 USD per share in 2024.

Market Value

Description	KRW	USD	% of Net-Net
Deep Value Lens net-net	150.0 billion	105.6 million
Today’s Market Value	104.9 billion	73.8 million	70

Narrative

Folks, let's talk about SEOWONINTECH CO., Ltd., trading under the symbol A093920 on the Korea Securities Dealers Automated Quotations Exchange. This outfit's been churning out clever bits and pieces for our gadgets since way back, and it's got a story worth hearing if you're into the nuts and bolts of tech.

Picture this: It's August 1983, and South Korea's buzzing with industrial ambition. That's when this company first hit the scene as Seowon Special Rubber Co., Ltd., set up to tackle the growing demand for durable, specialized rubber components in emerging electronics. No flashy founder stepping into the limelight—seems like a team effort from the get-go, driven by engineers spotting a gap in high-quality parts for mobile phones, office machines, and IT gear. The goal? Deliver reliable materials that could handle the heat, dust, and daily grind without breaking a sweat. By 2001, they'd rebranded to SeowonIntech Co., Ltd., expanding into broader tech territories, and in 2007, they went public on KOSDAQ, fueling growth with factories in Vietnam and China. It's like starting with a basic garage toolkit and ending up with a full-blown assembly line empire.

Now, what do they actually make? Their lineup's a mix of wireless wizardry and protective doodads. On the wireless side, you've got LTE routers, indoor and outdoor CPEs for speedy internet hookups, mobile hotspots that keep you connected on the go, and modules integrating into bigger systems. Then there's the component crew: tapes that shield batteries from overheating or grime, rubber guards for delicate internals, metal and sponge keypads that feel just right under your fingers, functional films, adhesive sheets, graphite for heat dissipation, and accessories like phone covers or ear tips. They even dive into battery protection with smart modules, management systems, and thermal cutoff packs to prevent those explosive mishaps. Services wise, it's all about custom development, manufacturing, and supply chain support from their global plants, ensuring parts arrive precisely engineered and on time.

Their customer base? Heavy hitters in the Korean electronics scene, think massive conglomerates churning out smartphones and comms equipment—names that rhyme with "bamsung" if you catch my drift. They cater to residential users, small businesses, and big telecom setups needing reliable connectivity without the fuss.

But they're not alone in this game. Competitors keep things spicy: outfits like Samsung Electro-Mechanics dominate in high-end components, while Namuga Co. and Iwin Co. scrap over keypad and rubber niches. Then there's Solueta with its focus on protective films, People & Technology pushing wireless innovations, and Dong Il Technology edging in on battery tech. It's a crowded workshop where everyone's racing to innovate cheaper and tougher parts.

Lately, the buzz around SEOWONINTECH has been mixed but intriguing. In late 2024, earnings took a dip through September, but dig deeper and their cash flow's humming nicely thanks to efficient conversions—turns out those "soft" numbers mask solid operations. By October 2025, stock hovered around 5,640 won, steady amid market jitters, and they've been eyeing private 5G expansions, hinting at bigger plays in next-gen networks. Analysts note their R&D push could buffer against sector slowdowns.

As for artificial intelligence shaking things up? AI could supercharge SEOWONINTECH's manufacturing with predictive maintenance on assembly lines, slashing downtime and boosting precision in rubber molding or tape production. In wireless products, embedding AI for smarter routing might optimize data flow, but it risks commoditizing components if competitors automate faster. Overall, it's a boon for efficiency, potentially lifting margins by 10-15% if they adopt early.

# # #

Learn more at: SEOWONINTECH — Interim Financial June 30, 2025

Location: 32-15, Gongdan-ro 140beon-gil, Gunpo-si, Gyeonggi-do

Traded on the Korea Securities Dealers Automated Quotations Exchange. Symbol A093920.

# # #

This report is provided for entertainment purposes only. Expect to lose all of your money if you purchase the stock featured in this report. Past performance is no guarantee of future results. Please do you own research and seek the advice of your registered investment and seek the advice of your registered investment advisor.

Nothing in this report should be construed as a solicitation offer, or recommendation to buy or sell any security or as an offer to provide advisory services. Nothing contained in this report constitutes investment, legal, tax, or other advice nor should it be relied upon in making an investment or other decision.

Certain links may let you leave this report. The linked websites are not under the control of Investor Publications and are not responsible for the content of any linked website, or any link contained in a linked website. Investor Publications is providing these links to you only as a convenience and the inclusion of any link does not imply endorsement, investigation, verification or monitoring by us of such third-party website. Any references to outside data, opinions or content are listed for informational purposes only and have not been verified for accuracy by Investor Publications.

# # #

Deep Value Lens is a trademark of Investor Publications. Please do not post this on any website, forward it to anyone else, or make copies for anyone else. Copyright 2025 Investor Publications. All rights reserved.

A Hidden Gem in Tech's Rubber Jungle

Subscribe to keep reading

Keep Reading

Deep Value Lens