JP Innovation: "Beyond Equipment Manufacturing, Moving into EPC... Taking on the Challenge of Becoming a '100-Year Company'"

Competitive Edge in Specialized Equipment Manufacturing Across Diverse Industries
KRW 36.8 Billion Contract... Revenue Up 138%
Quadrupling Production Capacity... IPO Next Year and Exploring U.S. Expansion

"We went ahead and built a PD mixer worth KRW 2 billion. If our customers test it themselves, what more could they ask for?"

At JP Innovation's factory in Hwaseong, Gyeonggi Province, on October 14, CEO Lee Jehwan said this as he pointed to a large industrial mixing machine, the "PD mixer," standing in one corner of the factory. The silver-colored machine, weighing 20 tons, towered well above an adult's height. Lee operated it himself, demonstrating to reporters how its internal blades rotate. Its core function is to uniformly mix and disperse high-viscosity materials. It can be used in production processes across a range of industries, from secondary battery electrode materials to chemicals, cosmetics and pharmaceuticals, and electronic materials.

Lee had the machine built to prove the company's technological capabilities. Customers handling high-cost raw materials place great importance on equipment performance and reliability. Since they may be reluctant to adopt unproven equipment, the machine is part of a sales strategy that allows customers to verify its performance for themselves. Recently, the company also developed the "PDH mixer," which combines the existing PD mixer's functions with high-speed homogenization, and completed its patent registration. Building on this, it secured orders for and supplied equipment for a secondary battery project for the U.S. market.

Lee Jehwan, CEO of JP Innovation, explains a PD mixer installed at the company's production plant in Hwaseong, Gyeonggi Province, on the 14th. Photo by Choi Hogyeong.

Technological Edge to Meet Industrial Change... Strengthening EPC Business

Founded in 2009, JP Innovation manufactures chemical processing equipment used in pharmaceuticals and biotechnology, cosmetics, secondary batteries, semiconductors, and electronic materials. Its main products include reactors, filter reactors, filter dryers, and freeze dryers. The company makes equipment tailored to customer requirements for a range of production processes, from raw material synthesis to filtration, washing, drying, and mixing. 

The company's strength lies in its broad yet rare manufacturing technologies, which do not depend on any one industry. According to Lee, only a handful of domestic manufacturers make certain specialized equipment, including filter dryers and freeze dryers. In addition to these products, the company has secured design and manufacturing technologies and a track record of deliveries for various specialized machines, including PD mixers. It recently developed in-house a "powder refiner" for pharmaceutical raw material processing, an area that had relied heavily on overseas equipment, and filed a patent application.

Lee Jehwan, CEO of JP Innovation, introduces various pieces of equipment installed at the company's production plant in Hwaseong, Gyeonggi Province, on the 14th. MainBiz Association

This technological edge has provided a foundation for responding flexibly to changes in business conditions across industries. When the pharmaceutical and biotechnology industries were booming, related equipment accounted for more than half of sales. More recently, production facilities for cosmetic ingredients have become a core business, fueled by the growth of the K-beauty industry. In particular, the company secured a KRW 36.8 billion contract in 2024 to supply production facilities to AS Tech, a manufacturer of sunscreen ingredients, giving its performance a significant boost. As revenue from the project began to be fully reflected in 2025, consolidated revenue rose 138.2% year over year to KRW 57.3 billion, while operating profit surged more than sixfold to KRW 6.4 billion.

Recently, the company has also been strengthening its engineering, procurement, and construction (EPC) business, drawing on its process equipment manufacturing capabilities. Under this turnkey approach, it handles everything from process design and equipment manufacturing to installation and commissioning, enabling customers to produce the materials they want. It is also focused on reducing design errors and rework by adopting an engineering base and a 3D design system. Last year, it also pursued management innovation, including the establishment of an enterprise resource planning (ERP) system and an internal accounting control system. In recognition of these achievements, it received the Minister of SMEs and Startups Award at this year's Small and Medium Business Management Innovation Awards.

JP Innovation's main production equipment. JP Innovation

The company is also expanding its production facilities to support business growth. Its current headquarters factory in Hwaseong, Gyeonggi Province, occupies a 4,100-pyeong site, has six factory buildings, and has an annual production capacity worth KRW 50 billion. The company plans to build a new factory on a 10,000-pyeong site in Hwaseong's Yanggam H Techno Valley and relocate its existing manufacturing facilities there by 2028. It aims to expand annual production capacity to around KRW 200 billion and strengthen its ability to carry out medium- and large-scale EPC projects.

Going Global on the Back of an IPO... A Vision for a "100-Year Company"

JP Innovation plans to use an initial public offering (IPO) as a springboard to accelerate its entry into overseas markets. Lee said that the company had previously exported equipment to Japan and established a local subsidiary in Vietnam, but its efforts to expand overseas were limited by a shortage of sales personnel and organizational resources. It is pursuing a listing between May and July 2027 and plans to strengthen its overseas sales organization and recruit specialists after the listing to target international markets. It is also considering establishing a local subsidiary in the United States and participating in overseas trade shows.

Lee's ultimate goal is to grow the company into a "100-year company." His vision is to establish a management system that will enable sustained growth even if the company is led by a professional manager rather than one of his children.

Lee Jehwan, CEO of JP Innovation, answers reporters' questions at a press briefing hosted by the MainBiz Association on the 14th.

This content was produced with the assistance of AI translation services.