CHANGWON — MH Materials, formerly Manho Rope & Wire, is moving from its existing specialty materials business into advanced materials centered on permanent magnets.
The company said on the 6th that it has set next-generation permanent magnet development as its new business direction, responding to growth in the permanent magnet market and a national push to strengthen supply chains. It also cited industrial policies such as stabilizing critical mineral supply chains, developing technology to reduce rare earth use and bolstering the competitiveness of the robotics industry.
Permanent magnets are used in motors and drive systems for robots, electric vehicles and defense equipment. MH Materials said demand is rising for ultra-compact magnets with high coercivity, particularly in robot actuators, where miniaturization and high performance are required.
The initial development target is ultra-compact, high-coercivity motor magnets for robot actuators. The company plans to develop the magnets in connection with actuator products under development at affiliate MH Dynamics, then apply them to actual products for field verification. It will start with products that already have demand to build a domestic production base, and expand applications depending on development results and market demand.
MH Materials said it will apply its existing manufacturing capabilities in materials and metal processing to permanent magnet development.
"Permanent magnets are a core material for advanced industries including robotics, and we decided to pursue this as a new business considering both market demand and the national direction on supply chains," an MH Materials official said. "Through the development of ultra-compact, high-coercivity permanent magnets and field verification with affiliate products, we will build a domestic production base and commercialization capabilities step by step."
