Ilshin Spinning

What Ilshin Spinning does

Ilshin Spinning Co., Ltd. (일신방직) is a South Korea-based, publicly listed (Korea Stock Exchange, ticker 003200 since May 1973) textile manufacturer founded in 1951, with operational roots dating to 1935. The company produces cotton yarn, fabric, and dyeing services for global fashion and apparel brands, operating four production facilities: Gwangju Spinning Mill 1 (since 1935; ~110,000 spindles, ~500 employees), Gwangju Spinning Mill 2 (est. 2007; ~85,000 spindles, ~350 employees), Banwol Dyeing Mill in Ansan (est. 1984; yarn and fabric dyeing, ~170 employees), and Ilshin Vietnam (est. October 2015; ~120,000 spindles, ~600 employees), plus the Seoul headquarters (~70 employees). The company also operates a small portfolio of non-core subsidiaries and minority holdings spanning fashion retail, food and beverage, and venture investment, including a Hannam-dong premium office building that contributes rental income to consolidated revenue.

The company's core technology base is industrial cotton spinning and textile processing — ring spinning, compact spinning, MVS vortex spinning (using Murata equipment), yarn dyeing (8,000 tons annual capacity, the largest in Korea), and fabric dyeing (11,000 tons annual capacity, including Korea's largest 1,600KG dyeing machine). Differentiated offerings include the sole-in-Korea melange yarn line (with a 3,000+ color database and supporting equipment for rapid color development), the NET-certified New Patched Yarn Technology developed jointly with KOTITI, and the ECOCELL+ eco-friendly cationic-cotton melange technology. Sub-brands IVYSTAR, MELANSTAR, SLUBSTAR, PATCHSTAR, NEW PATCHSTAR, and TRISTAR organize the yarn portfolio, and the ReFeaT recycled-fiber line (co-developed with Klasstech) addresses the circular-economy segment.

Ilshin's business model is direct B2B manufacturing: it sells yarn, fabric, and dyeing services at negotiated prices to global fashion and apparel brands — disclosed logos include Nike, adidas, Uniqlo, H&M, Zara, Mango, Ralph Lauren, Levi's, The North Face, Lacoste, Gap, Abercrombie & Fitch, Tommy Hilfiger, Under Armour, Walmart, Descente, Giordano, Beanpole, and Polham. Marketing runs through dedicated domestic and overseas sales teams, with PIS (Preview in Seoul) as the main industry event. Consolidated FY2025 revenue was KRW 517,178 million (~$357M) with KRW 33,916 million in net income, against KRW 523,651 million revenue and KRW 29,002 million net income in FY2024. The controlling shareholder group led by Chairman Kim Young-ho holds 57.20% (including treasury stock), with the rest held by 2,404 general shareholders; the company is led by President and CEO Kim Jung-soo as of the March 2025 67th AGM.

Name

Ilshin Spinning

Legal name

일신방직 주식회사 (Ilshin Spinning Co., Ltd.)

Website

https://ilshin.co.kr

Company type

Public

Founded year

1951

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Cotton Yarn and Textile Manufacturing

NAICS

Fiber, Yarn, and Thread Mills (313110), Broadwoven Fabric Mills (31321), All Other Textile Product Mills (31499)

SIC

Broadwoven Fabric Mills, Cotton (2211), Knitting Mills (2250), Textile Mill Products (2200)

akta.pro primary industry

Spun Yarn Manufacturing (Ring/Open-End/Compact) (IMAOAAAD)

akta.pro secondary industries

Dyeing Operations (Piece/Yarn/Fiber/Garment) (IMAOACAB), Greige Woven Fabric Mills (IMAOABAA), Knitted Fabric Mills (IMAOABAB), Woven Fabrics (CRAAAMAB)

Keywords

• Cotton yarn manufacturing
• Textile fabric production
• Melange yarn production
• Yarn dyeing services
• Fabric dyeing services

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Yarn Manufacturing and Sales: Production and sale of various cotton yarns including combed cotton yarn, compact yarn, MVS yarn, melange yarn, slub yarn, patched yarn, and blended/synthetic yarns. This is the core revenue stream from spinning operations.
2. Fabric Manufacturing and Sales: Production and sale of cotton fabric, rayon fabric, blended fabric, and inter-woven fabric (both domestic and imported).
3. Dyeing Services: Yarn dyeing and fabric dyeing services with annual capacities of 8,000 tons for yarn dyeing and 11,000 tons for fabric dyeing.
4. Real Estate and Other Income: Other income includes rental income from commercial buildings including Hannam-dong building and other real estate holdings. The company has expanded into premium office leasing and operates other subsidiaries including fashion retail and food/beverage businesses.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels1 record

Core offering

Ilshin Spinning Co., Ltd. manufactures and sells cotton yarn, blended/synthetic yarn, melange yarn, and various fabrics (cotton, rayon, blended, interwoven). It also provides yarn dyeing and fabric dyeing services. The company operates four production facilities across South Korea and Vietnam, producing a comprehensive range of textile materials for global fashion brands and apparel manufacturers.

Product overview

Ilshin Spinning operates as a textile manufacturing company with three main product categories: Yarns (including combed cotton, compact, MVS, melange, ECOCELL+, slub, patched, new patched, tri-blend, blended/synthetic, and OE glove yarns), Fabrics (cotton, rayon, blended, and interwoven fabrics), and Dyeing services (yarn dyeing and fabric dyeing). The company produces under sub-brands including IVYSTAR (MVS yarn), MELANSTAR (melange yarn), SLUBSTAR (slub yarn), PATCHSTAR (patched yarn), NEW PATCHSTAR (new patched yarn), and TRISTAR (tri-blend yarn). Manufacturing is conducted across four facilities: Gwangju Spinning Mill 1 (est. 1935), Gwangju Spinning Mill 2 (est. 2007), Banwol Dyeing Mill (est. 1984), and Ilshin Vietnam (est. 2015).

Differentiator

Problem solved

Functional benefit

Brands

• IVYSTAR: Yarn brand - MVS yarn product line
• MELANSTAR
• ECOCELL+
• SLUBSTAR
• PATCHSTAR
• NEW PATCHSTAR
• TRISTAR
• THREESTAR
• ReFeaT

Products and services

• Combed Cotton Yarn (면사) High-quality cotton yarn made from carefully selected raw cotton (American, Brazilian, Australian), processed through contamination detection and removal systems. Available in counts from Ne 3 to Ne 50 for apparel manufacturing customers.
• Compact Yarn (컴팩트 면사) Compact yarn produced using German compact equipment, featuring less hairiness compared to normal combed cotton yarns, providing a cleaner surface appearance for premium textile applications.
• MVS Yarn (MVS사 / IVYSTAR) MVS yarns produced using VORTEX spinning system by Murata (Japan), offering superior pilling resistance (Grade 3 or higher) and quick-dry properties with dry touch feel, suitable for sports and active apparel applications.
• Melange Yarn (멜란지 / MELANSTAR) Melange yarn - Korea's sole manufacturer since 1990. Offers over 3,000 color database with specialized equipment (MDTA, CCM, Color box). Materials include cotton, polyester, rayon, modal, tencel, and various blended melange yarns.
• ECOCELL+ Yarn (에코셀플러스) Eco-friendly melange cotton yarn using cationic-treated cotton blended with raw white yarn. Enables rapid market response with shorter dyeing time, less water usage, and no chemicals like sodium hydroxide.
• Slub Yarn (슬러브사 / SLUBSTAR) Slub yarn creating unique texture effects through weaving/knitting without additional processing. Korea's largest slub yarn production facilities. Materials include cotton, polyester, rayon, modal, tencel, Coolmax, Thermolite.
• Patched Yarn (패치사 / PATCHSTAR) Patched yarn consisting of base and patch sections with different materials, creating melange shading effects after dyeing. Various combinations of raw white, dope dyed, and melange materials.
• New Patched Yarn (뉴패치사 / NEW PATCHSTAR) New patched yarn with distinct border between base and patch sections unlike normal patched yarn. Multiple style options including New Patch, Cross, and Gradation through mixing control methods.
• Tri-blend Yarn (트라이블랜드 / TRISTAR) Tri-blended yarn of cotton, polyester, and rayon creating diverse and unique fabric textures. Can produce SNOW effect including NEP and SLUB variants.
• Blended and Synthetic Yarn (혼방 및 화섬사) Blended and synthetic yarns produced by blending different materials. Products include SIRO yarn, hair yarn, and special yarns using cotton, polyester, rayon, modal, tencel, Coolmax, Thermolite.
• OE Glove Yarn (OE 장갑사) OE glove yarn produced at OE equipment by blending cotton with polyester for carded quality production. Exclusively used for glove yarn manufacturing.
• Cotton Fabric (면직물) Cotton fabric - natural fiber with excellent sweat and moisture absorption. Imported fabrics available from Ne 10 to Ne 100 in various structures, plus domestic high-quality woven fabrics for apparel manufacturers.
• Rayon Fabric (레이온 직물) Rayon fabric made from regenerated natural wood pulp fiber. Features good gloss and soft touch with excellent drape property. Offers viscose, modal, tencel varieties through international partnerships.
• Blended Fabric (혼방직물) Blended woven fabrics combining two or more different fiber characteristics. Used broadly in fashion apparel with diverse functions and special color effects. Includes functional fabrics like COOLMAX.
• Interwoven Fabric (교직물) Interwoven fabric with warp and weft using different yarn materials combining advantages of both materials. Ideal for outdoor wear and golf apparel with STRETCH functionality. Materials include cotton/nylon, nylon/cotton, cotton/polyester.
• Yarn Dyeing Service (사염) High-quality dyed yarn production with strict quality control from raw material selection to dyeing. Korea's largest production facilities with 8,000 tons annual capacity. Products include cotton, polyester, rayon, modal, tencel dyed yarns.
• Fabric Dyeing Service (포염) Fabric dyeing with Korea's largest 1,600KG dyeing machine. Equipped with automatic endless sewing and pre-setting facilities for high-quality spandex circular knit fabric dyeing. Annual capacity of 11,000 tons for circular knit fabric.
• ReFeaT Recycled Fiber

Named customers19 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• KOTITIcoreStrategic or Co-development Partner · 24 August 2017Joint development of New Patched Yarn Technology with KOTITI testing institute. This technology was certified as NET (New Excellent Technology) by KATS, representing a significant proprietary advancement in yarn manufacturing.
• Klasstech (제클린)coreStrategic or Co-development PartnerJoint development of ReFeaT (再生 - recycled fiber) brand with climate-tech startup Klasstech. Co-exhibited at PIS 2024 and 2025 textile exhibitions. Focuses on recycled cotton and circular economy solutions for the textile industry.

Scale indicators11 records

Recent moves15 records

Expansion highlights5 records

Direct peers

• Vardhman Textiles: One of India's largest integrated yarn manufacturers producing cotton, blended, and melange yarns for global apparel brands. Closely comparable to Ilshin in product mix (cotton yarn, melange, dyed yarn) and customer base (international fashion brands).
• Arvind Limited: Indian textile conglomerate producing denim, woven fabrics, and yarns, supplying global brands including Nike, Uniqlo, H&M, and Levi's. Comparable to Ilshin in serving major global apparel customers with a vertically integrated yarn-to-fabric platform.
• Trident Group: Indian integrated textile manufacturer with cotton yarn spinning, dyeing, and home textile operations. Comparable to Ilshin in vertical integration across spinning and dyeing and in supplying global fashion and home textile customers.
• Pacific Textiles Holdings: Hong Kong-listed yarn manufacturer with production in China, Vietnam, and Sri Lanka supplying global apparel brands. Closely comparable to Ilshin in product (knitted fabric, yarn), customer base (international fashion), and Asian manufacturing footprint including Vietnam.
• Hanil Synthetic Fiber: Korean synthetic fiber and yarn manufacturer (now part of Hanil E-Hwa/Kohap group). Comparable domestic Korean peer in the textile/fiber spinning industry with overlapping customer base in apparel manufacturing.
• Tae Kwang Industrial: Korean textile manufacturer producing yarn, fabric, and apparel for global brands including Nike. Comparable to Ilshin as a major Korean vertically integrated textile company serving the same premium global customer base.
• Youngone Corporation: Korean textile manufacturer with vertically integrated yarn, fabric, and garment production across Korea, Vietnam, Bangladesh, and Pakistan. Directly comparable to Ilshin in product mix and Asian multi-country manufacturing footprint serving global apparel brands.

Broad incumbents

• Aditya Birla Group (Grasim Industries - Textiles): One of the world's largest textile and fiber producers, with global operations in viscose, cotton, and yarn through Grasim Industries and Birla Cellulose. Comparable to Ilshin as a global scale fiber/yarn player, though vastly larger and broader in scope.
• Sateri: World's largest viscose/rayon fiber producer (China-based, owned by RGE). Comparable to Ilshin in supplying fiber inputs to global apparel supply chains, but at much larger scale and focused on cellulosic rather than cotton yarn.

Emerging players

• Klass Tech (Zeclin): Korean climate-tech startup partnered with Ilshin to co-develop the ReFeaT recycled fiber brand. Comparable as an emerging player in recycled textiles working with established spinners to scale circular fiber solutions.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ilshin-spinning-co-ltd

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

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

M&A

Investments2 records

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

Frequently asked questions about Ilshin Spinning