What HVM does

HVM (Hankook Vacuum Metallurgy / 한국진공야금, ticker KOSDAQ:295310) is a South Korean specialty metals manufacturer founded in April 2003 that produces advanced alloys using an integrated vacuum-melting platform. The company manufactures six product categories — nickel alloys, stainless steel (including super duplex grades), titanium alloys, copper alloys, sputtering targets, and advanced alloys — using five melting technologies (VIM, VAR, PACHM, AOD, and Electron Beam Melting) combined with in-house hot rolling, forging, and precision machining capabilities. The Anyang headquarters houses the corporate and commercial functions, while the Seosan plant hosts primary melting and downstream processing.

The company serves industrial buyers across six end-markets: aerospace, petrochemical, shipbuilding and marine, power generation, semiconductor and OLED display, and the future automobile / EV vertical. Sales are direct B2B, with quote-based pricing (not publicly disclosed) and customer engagement handled through website inquiry forms and a dedicated sales department. In May 2024 the company filed a securities registration statement for a KOSDAQ listing and subsequently completed new stock issuance, transitioning the company to public-company status under ticker 295310. The company is led by CEO Moon Seung-ho and operates with 101-250 employees.

Revenue shows a clear acceleration in the most recent year off a relatively stable 2021-2024 base, consistent with the post-IPO capacity build-out and the ramp of the sputtering target product line into semiconductor and OLED customers. The 2024 fiscal year shows negative gross profit, EBITDA, operating income, and net income, which is consistent with IPO-related expenses and pre-ramp unit economics rather than a structural deterioration. Investor relations and general contact infrastructure are in place, supporting a transition toward more formalized public-company disclosure.

Name

HVM

Legal name

(주)에이치브이엠

Website

https://hvm.co.kr

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

101–250 employees

Short description

HVM is a South Korean specialty metals manufacturer producing nickel, titanium, and copper alloys, stainless steel, and sputtering targets via integrated vacuum melting for aerospace, petrochemical, marine, semiconductor/OLED, and EV customers. Headquartered in Anyang with a Seosan plant; publicly listed on KOSDAQ.

Ownership category

akta.pro rank

Headquarters

HQ city

Ansan

HQ country

South Korea

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Infrastructure, Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Special Metal Products Manufacturing: HVM manufactures and sells advanced special metals including nickel alloys, copper alloys, titanium alloys, stainless steel, sputtering targets, and advanced alloys to industrial customers in aerospace, petrochemical, shipbuilding, marine, power generation, semiconductors, OLEDs, and automotive sectors. Revenue is generated through direct B2B sales of manufactured metal products.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

HVM manufactures advanced special metals using proprietary vacuum melting technology, producing nickel alloys, copper alloys, titanium alloys, special stainless steel, sputtering targets, and advanced alloys. The company sells these custom-manufactured metals directly to industrial customers in aerospace, petrochemical, shipbuilding, marine, power generation, semiconductor, OLED, and electric vehicle sectors through direct B2B sales inquiries.

Product overview

HVM is a global high-tech specialized metal company that manufactures advanced special metals using special vacuum melting technology. The product portfolio consists of six core product lines: Nickel Alloys (니켈합금), Stainless Steel (스테인레스 스틸), Titanium Alloys (타이타늄 합금), Copper Alloys (구리합금), Sputtering Targets (스퍼터링 타겟), and Advanced Alloys (첨단금속). These products are manufactured through various processes including VIM (Vacuum Induction Melting), VAR (Vacuum Arc Remelting), PACHM (Plasma Arc Cold Hearth Melting), AOD (Argon Oxygen Decarburization), and Electron Beam Melting. The products serve key industries including aerospace, petrochemical, shipbuilding, marine, power generation facilities, semiconductors, OLEDs, and future automobiles.

Differentiator

Problem solved

Functional benefit

Products and services

• Nickel Alloys Special nickel alloys manufactured using vacuum melting technology (VIM, VAR) for aerospace, petrochemical, and power generation applications requiring high-purity and high-temperature performance.
• Special Stainless Steel Special stainless steel products, including super duplex stainless steel, manufactured through AOD refining for industrial applications requiring corrosion resistance.
• Titanium Alloys Special titanium alloys produced through vacuum melting (VIM, VAR) for aerospace and industrial applications requiring high strength-to-weight ratio and corrosion resistance.
• Copper Alloys Special copper alloys manufactured using advanced vacuum melting techniques for various industrial applications requiring high conductivity and corrosion resistance.
• Sputtering Targets High-purity sputtering targets used in semiconductor and OLED manufacturing processes for thin film deposition, requiring ultra-high purity and precise composition control.
• Advanced Alloys High-performance advanced alloys including high-purity alloys and super duplex steel for demanding industrial applications across aerospace, petrochemical, and energy sectors.

Segments7 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Carpenter Technology Corporation: US-based producer of specialty alloys including nickel, cobalt, and stainless grades manufactured via vacuum induction melting and vacuum arc remelting. Carpenter is one of the most direct global comparables to HVM in terms of product mix (high-performance nickel alloys, stainless, titanium) and end markets (aerospace, defense, energy, medical).
• Haynes International: Manufacturer of nickel- and cobalt-based high-performance alloys produced through vacuum induction melting, with deep aerospace, chemical processing, and power generation exposure. Haynes' product portfolio (Hastelloy, Haynes alloys) and vacuum-melting-led process map closely to HVM's nickel alloy and stainless steel franchise.
• ATI (Allegheny Technologies Incorporated): US producer of specialty materials including nickel-based alloys, titanium alloys, and stainless steel, with significant aerospace and defense exposure. ATI's vacuum-melt superalloy and titanium businesses directly overlap with HVM's core product lines, making it a key scale and product-mix comparable.
• Special Metals (Precision Castparts Corp.): World-leading producer of nickel-based superalloys and high-performance alloys, owned by Precision Castparts. Special Metals' focus on vacuum-melt nickel alloys for aerospace, oil & gas, and chemical processing is the closest direct process and product analogue to HVM's nickel alloy business.
• VDM Metals (Acerinox): German-based manufacturer of high-performance nickel alloys, cobalt alloys, and special stainless steels serving chemical, aerospace, and energy markets. VDM's vacuum-melt nickel alloy portfolio and integrated melting-to-finished-product approach are directly comparable to HVM's specialty alloys franchise.

Broad incumbents

• Sandvik (Materials Technology division): Large Swedish engineering group with a materials technology division producing advanced stainless steels, nickel alloys, and titanium products for aerospace, energy, and industrial markets. Overlaps with HVM in nickel and stainless, but as part of a much broader industrial portfolio.
• Outokumpu: World's largest stainless steel producer, based in Finland, with significant capacity in duplex and super-duplex stainless grades. Outokumpu's super-duplex stainless product line directly overlaps with HVM's specialty stainless offering, though at much greater scale and as part of a broader stainless portfolio.
• Aperam: Luxembourg-based stainless and specialty alloys producer with operations in Europe and Brazil. Aperam's specialty stainless and electrical steel products overlap with HVM's stainless and copper alloy lines, though its scope is broader and more focused on commodity stainless.
• POSCO: Korea's largest steelmaker with growing specialty stainless and high-nickel alloy capabilities, and a significant domestic Korean industrial customer base. POSCO is a relevant Korean-market comparable for HVM, though its specialty metals exposure is small relative to its mainstream steel business.

Regional players

• Kobe Steel (KOBELCO): Major Japanese steelmaker with a significant specialty alloys and titanium business serving aerospace, energy, and chemical markets across Asia. Comparable to HVM in product mix (nickel alloys, titanium, stainless) and in serving regional Asian customers, though not directly competing in Korea.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HVM