What Woojin Industrial Systems does

Woojin Industrial Systems (주식회사 우진산전), founded in 1974 and headquartered in Seoul, South Korea, is a privately held manufacturer of electric propulsion systems, traction motors, power conversion equipment, and rolling stock components for the railway industry. The company supplies OEM propulsion and electrical systems to Seoul Metro (Lines 1, 4, 5, 7, 8), Korail (main line, Ilsan line), Busan Transportation Corporation (Line 1, Yangsan Line), and international transit authorities including LA Metro and MBTA. Its proprietary technology portfolio centers on permanent magnet synchronous motors, hydrogen fuel cell hybrid propulsion, energy storage systems for regenerative braking, microgrid power management, bimodal trams, K-AGT rubber-tire light rail, and smart monorail platforms, developed through a dedicated Technology Research Institute established in 1988. Sub-brands include APOLLO electric buses (Apollo 1200, 1100, 900, 750), K-TRAM, K-AGT, and APMS automated people movers.

The company operates four manufacturing and testing facilities in Goesan, Cheongju (Ochang), Jeungpyeong (including the 2022 Railway Vehicle Comprehensive Test Center), and the newly completed Gimcheon factory, plus a US subsidiary (Woojin I.S. America, Inc.) with operations in Santa Fe Springs and a planned Carson, California factory. Revenue is generated through three streams: rolling stock manufacturing and refurbishment (notably the ~300 billion KRW LA Metro A650 contract for up to 74 subway cars), OEM hardware sales of propulsion and electrical components to transit operators, and electric bus and microgrid/ESS system sales. Go-to-market is almost entirely direct enterprise sales to government transit authorities via public tenders, supplemented by consortium-based market development partnerships such as the German Federal Ministry program with BODE, KORAIL, Busan Transportation Corporation, and Sungshin RTS. Woojin holds ISO 9001, ISO 14001, ISO 45001, and ISO/TS 22163 (IRIS) certifications, and has received repeated Korean government recognition including World Class 300 (2012), $30M Export Tower (2014), and Silver Tower Industrial Service Merit (2011).

Name

Woojin Industrial Systems

Legal name

(주)우진산전 (Woojin Industrial Systems Co., Ltd.)

Website

https://wjis.co.kr

Company type

Private

Founded year

1974

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Woojin Industrial Systems is a South Korean OEM manufacturer of electric propulsion systems, traction motors, hydrogen fuel cell hybrid drives, and rolling stock refurbishment services for domestic transit authorities (Seoul Metro, Korail, Busan) and international customers (LA Metro, MBTA).

Ownership category

akta.pro rank

Product category

Railway Rolling Stock and Propulsion Systems

NAICS

Railroad Rolling Stock Manufacturing (336510), Motor and Generator Manufacturing (335312), Motor Vehicle Transmission and Power Train Parts Manufacturing (33635)

SIC

Railroad Equipment (3743), Motors & Generators (3621), Electrical Industrial Apparatus (3620)

akta.pro primary industry

Electric Drive Unit / E-Axle Manufacturing (Motors/Inverters/Gearboxes) (IMACACAC)

Keywords

• Railway propulsion systems
• Rolling stock manufacturing
• Electric bus systems
• Traction motor technology
• Rail vehicle refurbishment

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, Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Rolling Stock Manufacturing and Refurbishment: Woojin generates primary revenue through manufacturing new rolling stock and refurbishing existing subway cars for transit authorities. The LA Metro A650 vehicle refurbishment contract represents a major project, with the company generating approximately KRW 200 million in 2024 from this contract, which has a total value of approximately 300 billion KRW.
2. Original Equipment Manufacturing (OEM): Woojin supplies electric propulsion systems, traction motors, power conversion equipment, and components as OEM supplier to rolling stock manufacturers and transit operators including Seoul Metro and Korail. This provides recurring revenue from established domestic customer base.
3. Electric Bus Systems: Woojin supplies electric bus systems to Korean cities, diversifying revenue beyond rail into broader clean transportation sector.
4. Energy Systems (Microgrid and ESS): Woojin generates revenue from microgrid systems and energy storage installations for transportation infrastructure and industrial applications in Korea.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels3 records

Core offering

Woojin Industrial Systems manufactures and supplies electric propulsion systems, traction motors, and power conversion equipment for railway rolling stock, including complete vehicle manufacturing and refurbishment services. The company also produces electric buses under the APOLLO brand and develops smart energy systems such as microgrids and energy storage solutions for transit infrastructure. Primary customers are government-owned transit authorities in Korea and abroad.

Differentiator

Problem solved

Functional benefit

Brands

• APOLLO: Electric bus product line including Apollo 1200 (high-floor), Apollo 1100, Apollo 900, and Apollo 750 models for urban transportation.
• K-AGT
• SMART Monorail
• K-TRAM
• APMS
• DEMU

Products and services

• Railway Propulsion and Rolling Stock Systems Complete electric propulsion systems, traction motors, power conversion equipment, and components supplied as OEM to rolling stock manufacturers and transit operators. Customers include Seoul Metro (Lines 1, 4, 5, 7, 8), Korail (main line, Ilsan line), Busan Metro Line 1, Yangsan Line, and LA Metro.
• APOLLO Electric Bus Series Electric bus product line including Apollo 1200 high-decker (342kWh battery, 270kW motor, 110km/h max speed, 502km range), Apollo 900 autonomous low-floor, Apollo 900 wireless charging, and Apollo 750 medium low-floor models. Supplied to Korean cities and transit authorities including MBTA in the U.S.
• Smart Energy Systems (Microgrid and ESS) Microgrid systems and battery-based Energy Storage Systems (ESS) for transportation infrastructure and industrial applications in Korea, including regenerative braking energy recovery and power management for rail systems.
• Rolling Stock Refurbishment Services Complete vehicle refurbishment services including propulsion upgrades, power conversion redesign, door mechanisms, and electrical system upgrades for aging subway fleets. Performed for Seoul Metro Lines 5 and 7 (Good Design selection) and LA Metro A650 cars.
• Hydrogen Fuel Cell Hybrid Railway Propulsion System Hydrogen-electric train propulsion system combining fuel cells with energy storage for zero-emission railway operations, with proprietary optimization technology for hydrogen-electric train propulsion.
• K-TRAM Electric Articulated Bus Korean Tram (K-TRAM) — double-door electric articulated bus optimized for Super BRT applications with bidirectional entrance and 100% low-floor design.
• DEMU (Diesel-Electric Multiple Unit) Self-powered train system using diesel engine and generator for propulsion, providing rail service on non-electrified routes.
• Smart Monorail System Domestic technology-based straddled monorail system for urban transportation with intelligent control and monitoring capabilities.
• K-AGT (Korean Automatic Guideway Transit) Rubber-tire light rail vehicle technology for urban transit applications, including unmanned automated light rail vehicles developed as Korea's first domestically developed AGT system.
• APMS (Automated People Mover Standards) Rubber-tire based new transportation system for airport and urban transit applications, providing automated people mover solutions.

Quantifiable outcome

• World Class 300 company recognition indicating competitiveness in global markets.
• +2 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Four partnerships are on record, tiered core and minor.

• BODE (German Railway Industry Company)coreStrategic or Co-development Partner · 1 January 2024BODE, a German railway industry company, is participating in a market development program organized by the German Federal Ministry. The program includes Korean railway sector players KORAIL, Busan Transportation Corporation, Sungshin RTS, and Woojin Industrial Systems. This partnership enables Woojin to participate in international market development and access European railway technology expertise.
• KORAILcoreStrategic or Co-development Partner · 1 January 2024KORAIL participates in the German Federal Ministry market development program alongside Woojin Industrial Systems, Busan Transportation Corporation, Sungshin RTS, and BODE. This consortium enables joint market development activities and shared expertise in railway sector growth.
• Busan Transportation CorporationcoreStrategic or Co-development Partner · 1 January 2024Busan Transportation Corporation participates in the German Federal Ministry market development program with Woojin Industrial Systems and other Korean railway sector players. The partnership enables knowledge sharing and joint market development activities.
• Sungshin RTSminorStrategic or Co-development Partner · 1 January 2024Sungshin RTS participates in the German Federal Ministry market development program alongside Woojin Industrial Systems and other Korean railway sector players. Partnership enables collaboration on railway sector market development initiatives.

Scale indicators3 records

Recent moves12 records

Expansion highlights7 records

Broad incumbents

• CRRC: World's largest rolling stock manufacturer offering complete trains, propulsion, and components at aggressive price points across emerging and developed markets.
• Siemens Mobility: Global rail OEM offering full rolling stock, propulsion, signaling, and services. Competes head-to-head on international tenders such as LA Metro refurbishment.
• Alstom: French rolling stock giant with comprehensive propulsion, services, and refurbishment portfolio. Directly competes for U.S. and Asian fleet modernization contracts.
• Hitachi Rail: Global rail OEM and services provider offering trains, propulsion, and digital solutions. Competes for fleet renewal and refurbishment programs worldwide.

Direct peers

• Hyundai Rotem: Korean rolling stock OEM supplying trains, propulsion systems, and defense vehicles domestically and internationally. Most direct Korean peer, competing on Seoul Metro, Korail, and overseas tenders.
• ABB (Traction division): Global supplier of traction motors, power electronics, and propulsion systems for rail and e-mobility. Comparable in traction motor and power conversion product lines supplied to rail OEMs.
• Mitsubishi Electric (Rail Systems): Manufactures traction motors, inverters, and train control systems for rail operators worldwide. Direct overlap in propulsion electronics and rolling stock components.
• Toshiba (Rail Systems): Supplies traction motors, propulsion systems, and railway power electronics. Comparable technology stack focused on rail drive systems and inverters.
• Škoda Transportation: European rolling stock and propulsion manufacturer offering locomotives, EMUs, and traction equipment. Comparable mid-tier global player competing in Central European and export markets.
• Construcciones y Auxiliar de Ferrocarriles (CAF): Spanish rolling stock and components manufacturer with strong presence in urban transit, refurbishment, and turnkey rail systems. Comparable in scope and customer mix to transit authorities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors

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 Woojin Industrial Systems