On December 11, 2024, the 30th Gyeongnam Trade Awards Ceremony and the 61st Trade Day Recognition Event took place in Changwon, South Korea. 

This annual event celebrates the achievements of companies that have significantly contributed to the country's economic growth and export expansion over the past year. CTR proudly received the USD 400 Million Export Tower Award, reaffirming its solid standing in the global mobility market.

From left: Wan-soo Park, Governor of Gyeongsangnam-do / Yong-ho Yoon, CEO of CTR / Yong-il Um, COO of CTR

CTR’s latest accolade marks its fourth Export Tower recognition, following previous awards for reaching USD 100 million in 2006, USD 200 million in 2014, and 300 million in 2022. Between July 2023 and June 2024, CTR achieved an impressive growth rate of 13%, increasing its revenue from 398 million to USD 425 million. With 84.3% of its 2023 revenue attributed to exports, CTR’s global influence continues to thrive.

CTR’s remarkable achievements are rooted in its relentless pursuit of innovation and expansion. Since its founding, the company has established strong markets in Europe and North America, steadily broadening its footprint. By strengthening partnerships with global electric vehicle manufacturers, CTR secured major contracts, positioning itself for sustained growth in the future.

CTR's remarkable growth is driven by its exceptional technological expertise and quality competitiveness. It became the first company in South Korea to localize automotive steering parts and went on to develop the world’s first non-cutting forming process for automotive ball joints. Additionally, CTR pioneered aluminum forging technology for automotive suspension parts, leading the way in lightweight automotive components.

Moreover, CTR has implemented a smart factory system and established a real-time quality management system integrated with AI, enhancing customer satisfaction through superior quality control. This continuous innovation and rigorous management have earned CTR top-quality evaluations from General Motors (GM) and Ford, further solidifying its reputation.

Upon receiving the USD 400 Million Export Tower Award, CTR’s CEO, Yoon Yong-ho, remarked: 

"This award reflects the success of our sustained investment in R&D and manufacturing capabilities, which has enabled us to build strong partnerships with global customers. By expanding our portfolio to focus on lightweight and high-performance components in response to market changes, we’ve been able to lead the industry. This recognition holds significant meaning as it affirms our ongoing growth in the future mobility market."

He also emphasized CTR's commitment to further diversifying its customer base, developing new technologies, and advancing the smart factory transformation to position CTR among the World Top 3 automotive component suppliers in the global mobility market.

CTR’s incredible journey is a shining example of technological innovation and quality-driven success in the competitive global market. Congratulations to CTR for this well-deserved recognition! 

As CTR continues to set new milestones, we look forward to its future contributions as a trailblazing leader in automotive components, ensuring safety and innovation in mobility worldwide.