{"slug":"hyundai-rotem-company","name":"현대로템","name_en":"Hyundai Rotem Company","ticker":"064350.KS","updated_at":"2026-10-10T16:08:11.478+00:00","canonical":"https://valuechain.wiki/hyundai-rotem-company","citable":"밸류체인 그래프 기준 현대로템의 직접 연결 기업은 2곳(관계 기준 공급 1·매출 0·투자 1)이고, 사슬을 2차까지 넓히면 9곳에 닿는다. 링크의 근거 출처는 15건이며 그중 1차공시가 5건이다 (valuechain.wiki, 2026-10-10 기준).","citable_en":"Per the valuechain.wiki graph, Hyundai Rotem Company is directly linked to 2 companies (1 supply, 0 revenue, 1 investment relationships) and reaches 9 companies within two hops; the links are backed by 15 dated sources, 5 of them primary filings (as of 2026-10-10).","kicker":"방산·철도·에코플랜트","kicker_en":"Defense, rail, eco-plant","lead":"K2 전차를 중심으로 한 디펜스솔루션과 고속철·전동차 레일솔루션을 함께 운영한다. 2026년 상반기 매출은 3조635억원, 영업이익은 4,566억원이며 디펜스 매출 비중은 56.8%다. 폴란드 K2 수출과 국내외 철도 수주가 성장축이고, 현대위아 주포 등 부품 공급망으로 수요가 전파된다.","lead_en":"Hyundai Rotem combines K2-centered Defense Solutions with high-speed and metro Rail Solutions. First-half 2026 revenue was KRW 3.0635tn and operating profit KRW 456.6bn, with Defense at 56.8% of revenue. Polish K2 exports and rail orders drive growth, transmitting demand to component suppliers such as Hyundai Wia's main-gun business.","categories":[{"key":"defense-primes","ko":"방산 프라임","en":"Defense Primes","theme":"defense","theme_ko":"방산","theme_en":"Defense","theme_kind":"chain","primary":true}],"segments":{"parts":[{"desc":"2026년 상반기 매출 1조7,385억원. 폴란드 K2 수출이 중심이며 현대위아 주포·국산 파워팩 공급망으로 연결된다.","name":"디펜스솔루션 (K2 전차·장갑차)","note":"56.8%"},{"desc":"2026년 상반기 매출 1조1,280억원. 국내외 고속철·전동차 수주가 방산 사이클을 보완한다.","name":"레일솔루션 (고속철·전동차)","note":"36.8%"},{"desc":"2026년 상반기 매출 1,970억원. 수소 인프라와 제철설비의 장기 옵션이다.","name":"에코플랜트 (수소·제철설비)","note":"6.4%"}],"total":"2026년 상반기 매출 3조635억원·영업이익 4,566억원·영업이익률 14.9%"},"segments_en":{"parts":[{"desc":"First-half 2026 revenue KRW 1.7385tn, led by Polish K2 exports and linked to Hyundai Wia main guns and the localized powerpack supply chain.","name":"Defense (K2 tank, APCs)","note":"56.8%"},{"desc":"First-half 2026 revenue KRW 1.128tn. Domestic and overseas rail orders diversify the defense cycle.","name":"Rail (high-speed, metro)","note":"36.8%"},{"desc":"First-half 2026 revenue KRW 197bn, a long-term option in hydrogen infrastructure and steel-plant equipment.","name":"Eco-Plant (hydrogen, steel)","note":"6.4%"}],"total":"First-half 2026 revenue KRW 3.0635tn, operating profit KRW 456.6bn, operating margin 14.9%"},"returns_yearly":{"2021":-3.4,"2022":48.4,"2023":3.1,"2024":108.8,"2025":290.1,"2026":-54.2},"return_asof":"2026-10-08","value_chain":{"leading":[],"benefiting":[{"slug":"hyundai-motor-company","name":"현대차","name_en":"Hyundai Motor Company","tier":1,"returns_yearly":{"2021":-16.7,"2022":-4.7,"2023":16.2,"2024":12.3,"2025":158.8,"2026":-34.2}},{"slug":"onsemi","name":"onsemi","name_en":"onsemi","tier":2,"returns_yearly":{"2021":107.5,"2022":-8.2,"2023":33.9,"2024":-24.5,"2025":-14.1,"2026":37.4}},{"slug":"sk-innovation","name":"SK이노베이션(SK온)","name_en":"SK Innovation (SK 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-54.2%로 조정됐다. 같은 현대차그룹 자본축인 현대차는 2025년 158.8%에서 2026년 -34.2%로 움직였고, K2 주포 공급사 현대위아는 2025년 125.1%에서 2026년 -31.7%로 이어졌다. 수요처의 대형 수출계약이 완성차에 먼저 반영되고 부품사로 확산되는 순서는 확인되지만, 현대로템의 2026년 조정은 기대가 실적보다 앞서간 위험을 보여준다. 후행 구간은 아직 기본 노드인 현대위아와 비노드인 엔진·변속기 공급사다.","analysis_en":"Hyundai Rotem is a defense integrator whose K2 export expansion reached earnings and the share price early. Annual returns moved 108.8% in 2024 and 290.1% in 2025 before changing -54.2% in 2026. Hyundai Motor, the group capital link, moved from 158.8% in 2025 to -34.2% in 2026, while K2 main-gun supplier Hyundai Wia moved from 125.1% to -31.7%. The sequence from sovereign export demand to the integrator and then component suppliers is visible, but Rotem's 2026 pullback shows the risk of expectations running ahead of delivery. The lagging section is Hyundai Wia, still a baseline node, plus the non-node engine and transmission suppliers.","analysis_asof":"2026-10-08"},"edges":[{"direction":"revenue","counterparty":"국내외 철도 운영사·발주처 (고속철·전동차)","counterparty_slug":null,"confidence":"high","metric":{"type":"contract","unit":"원","as_of":"2026-07-03","basis":"DART 단일공급계약","value":391446000000,"period":"에드먼턴 경전철(2026.7)","basis_en":"DART supply-contract filing"},"note":"레일솔루션 — 캐나다 에드먼턴 고상형 경전철 3,914억(매출 대비 8.9%), 신안산선 철도차량 2,353억(포스코이앤씨), SR 고속철(EMU-320), GTX-B·C 민자, 대장~홍대 광역철도.","note_en":"Rail Solutions: Canada's Edmonton high-floor LRT at KRW 391.4bn (8.9% of revenue), Sinansan Line rolling stock at KRW 235.3bn (POSCO E&C), SR high-speed EMU-320, GTX-B/C PPP, and the Daejang-Hongdae metro.","sources":[{"stance":"confirms","publisher":"금융감독원 DART","publisher_en":"FSS DART","kind":"filing","lang":"ko","published_at":"2026-07-03","url":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260703800009","title":"현대로템 단일판매·공급계약 (에드먼턴 경전철)","title_en":"Hyundai Rotem supply contract (Edmonton LRT)","excerpt":"체결계약명 '에드먼턴 고상형 경전철 공급 사업', 계약금액 3,914억원, 매출 대비 8.9%.","excerpt_en":"Contract 'Edmonton high-floor LRT supply', KRW 391.4bn, 8.9% of revenue."},{"stance":"confirms","publisher":"금융감독원 DART","publisher_en":"FSS DART","kind":"filing","lang":"ko","published_at":"2026-01-30","url":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260130801210","title":"현대로템 단일판매·공급계약 (신안산선 철도차량)","title_en":"Hyundai Rotem supply contract (Sinansan Line rolling stock)","excerpt":"신안산선 복선전철 철도차량 공급 2,353억원(계약상대 포스코이앤씨).","excerpt_en":"Sinansan Line rolling stock KRW 235.3bn (counterparty POSCO E&C)."}]},{"direction":"revenue","counterparty":"폴란드 군비청 (K2 전차)","counterparty_slug":null,"confidence":"high","metric":{"type":"count","unit":"대 (EC3)","as_of":"2026-07","value":210,"period":"2026~2034"},"note":"K2 전차 폴란드 수출 — 3차 실행계약(EC3) 210대(한국산 120+현지생산 90) 연내 체결 추진, 이행 2026~2034. 이라크 250대(약 9조원)·페루(K2 54대+장갑차 141대) 협상 병행.","note_en":"K2 tanks for Poland: the third execution contract (210 units - 120 Korean-built, 90 local) targeted within the year, running 2026-2034; Iraq (250 units, ~KRW 9tn) and Peru (54 K2s plus 141 wheeled APCs) in parallel talks.","sources":[{"stance":"confirms","publisher":"파이낸셜뉴스","publisher_en":"Financial News","kind":"news","lang":"ko","published_at":"2026-07-09","url":"https://www.fnnews.com/news/202607091020398407","title":"현대로템, 폴란드 K2 3차 계약 윤곽","title_en":"Hyundai Rotem's third Polish K2 contract takes shape","excerpt":"폴란드 K2 3차 실행계약 총 210대 — 120대 한국 생산·90대 현지 생산, 연내 체결 시 2026~2034년 이행. 이라크 250대(9조원) 도입 검토.","excerpt_en":"Polish EC3 for 210 K2s (120 Korean, 90 local), 2026-2034; Iraq weighing 250 units (~KRW 9tn)."}]},{"direction":"revenue","counterparty":"폴란드 군비청 (K2 전차 수출)","counterparty_slug":null,"confidence":"high","metric":{"type":"count","unit":"대 (EC3 추진)","as_of":"2026-07","value":210,"period":"2026~2034"},"note":"K2 전차 폴란드 수출 — 1차 계약(180대) 이행 중, 2차 이행계약 진행. 3차(EC3) 210대(한국산 120+현지생산 90) 추진, 이행 2026~2034. 사업보고서에 '폴란드 K2전차 공급 사업'·'2차 이행계약' 수주 명시.","note_en":"K2 tank exports to Poland: the first contract (180 units) is in delivery and a second execution contract is underway; a third (EC3) of 210 units (120 Korean-built, 90 local) is targeted for 2026-2034. The annual report lists the Poland K2 supply and its second execution contract.","sources":[{"stance":"confirms","publisher":"현대로템","publisher_en":"Hyundai Rotem","kind":"ir","lang":"en","published_at":"2026-07-24","url":"https://www.hyundai-rotem.co.kr/upload/2026/7/20260724015151039021.pdf","title":"현대로템 2026년 2분기 경영실적","title_en":"Hyundai Rotem 2026 Q2 results","excerpt":"2026년 상반기 디펜스솔루션 매출은 1조7,385억원으로 전사 매출 3조635억원의 56.8%를 차지했다.","excerpt_en":"Defense Solutions generated KRW 1.7385tn in first-half 2026 revenue, 56.8% of company revenue of KRW 3.0635tn."},{"stance":"confirms","publisher":"파이낸셜뉴스","publisher_en":"Financial News","kind":"news","lang":"ko","published_at":"2026-07-09","url":"https://www.fnnews.com/news/202607091020398407","title":"현대로템, 폴란드 K2 3차 계약 윤곽","title_en":"Hyundai Rotem's third Polish K2 contract takes shape","excerpt":"폴란드 K2 3차 실행계약 210대(120 한국 생산·90 현지), 2026~2034 이행.","excerpt_en":"Polish EC3 for 210 K2s (120 Korean, 90 local), 2026-2034."},{"stance":"mentions","publisher":"삼성증권","publisher_en":"Samsung Securities","kind":"research","lang":"ko","published_at":"2026-04-13","url":"https://stock.pstatic.net/stock-research/company/78/20260416_company_342000000.pdf","title":"현대로템: 아직 싸다고 말할 수 있는 방산주","title_en":"Hyundai Rotem: A defense stock that can still be called inexpensive","excerpt":"2026년 매출 7조650억원, 영업이익 1조2930억원을 추정했다. 폴란드 K2 인도 물량은 올해 줄어들 가능성이 높지 않다고 판단했다.","excerpt_en":"Samsung Securities estimated 2026 revenue of KRW 7.065tn and operating profit of KRW 1.293tn, and judged Polish K2 deliveries unlikely to decline in 2026."},{"stance":"confirms","publisher":"Defense News","publisher_en":"Defense News","kind":"news","lang":"en","published_at":"2026-04-01","url":"https://www.defensenews.com/global/europe/2025/poland-hyundai-rotem-k2-tank","title":"Poland deepens K2 tank buy from Hyundai Rotem","title_en":"Poland deepens K2 tank buy from Hyundai Rotem","excerpt":"Poland expands its K2 tank procurement from Hyundai Rotem under a second execution contract, with local production in Poland.","excerpt_en":"Poland expands its K2 tank procurement from Hyundai Rotem, with local production."},{"stance":"confirms","publisher":"금융감독원 DART","publisher_en":"FSS DART","kind":"filing","lang":"ko","published_at":"2026-03-19","url":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260319001275","title":"현대로템 사업보고서 (2025.12)","title_en":"Hyundai Rotem annual report (FY2025)","excerpt":"'폴란드 K2전차 공급 사업 수주', '폴란드 K2전차사업 2차 이행계약' 명시.","excerpt_en":"Annual report lists the Poland K2 supply project and its second execution contract."}]},{"direction":"cost","counterparty":"현대위아","counterparty_slug":"hyundai-wia","confidence":"high","metric":{"type":"component","unit":"mm","as_of":"2025-06-30","basis":"K2 전차 주포 구경","value":120,"period":"K2 production","basis_en":"K2 tank main-gun caliber","qualifier":"sole_specialized_large_caliber_artillery_maker"},"note":"현대위아가 현대로템 K2 전차에 장착되는 120mm 55구경장 활강포를 생산한다. K2 완성차 생산량이 주포 수요로 이어지는 직접 부품 연결이다.","note_en":"Hyundai Wia manufactures the 120 mm 55-caliber smoothbore main gun mounted on Hyundai Rotem's K2 tank, directly tying K2 production volumes to gun demand.","sources":[{"stance":"mentions","publisher":"현대위아","publisher_en":"Hyundai Wia","kind":"filing","lang":"ko","published_at":"2026-08-14","url":"https://www.hyundai-wia.com/lib/common/download2.asp?fileUrl=/upload/RESULT&seq=2142&flag=1&tableName=RE_WIA_BIZ_NEWS","title":"현대위아 제51기 반기보고서 (2026년 상반기)","title_en":"Hyundai Wia H1 2026 Business Report","excerpt":"2026년 상반기 매출액은 4조 5,331억원이다. 차량부품 주요 고객은 현대자동차·기아이며, 주요 매입처는 현대트랜시스 등이다.","excerpt_en":"H1 2026 revenue was KRW 4.533 trillion. Hyundai Motor and Kia are the main vehicle-parts customers, while Hyundai Transys is among the main suppliers."},{"stance":"confirms","publisher":"삼성증권","publisher_en":"Samsung Securities","kind":"research","lang":"ko","published_at":"2026-03-06","url":"https://www.samsungpop.com/common.do?cmd=down&contentType=application%2Fpdf&fileName=2010%2F2026030615573952K_02_05.pdf&inlineYn=Y&saveKey=research.pdf","title":"현대위아: 방산 사업 가치 재평가","title_en":"Hyundai Wia: Revaluing the Defense Business","excerpt":"K2 전차, K9 자주포향 포신 단독 공급 업체로 주요 고객사의 수출 확대에 비례해 물량이 증가한다.","excerpt_en":"Hyundai Wia is the sole gun-barrel supplier for K2 tanks and K9 howitzers, with volume rising alongside customer exports."},{"stance":"confirms","publisher":"아시아경제","publisher_en":"The Asia Business Daily","kind":"news","lang":"en","published_at":"2025-08-13","url":"https://www.asiae.co.kr/en/article/2025081310245914855","title":"현대위아, 수출 겨냥 방산 연구조직 대폭 확대","title_en":"Hyundai Wia Significantly Expands Research Organizations to Target Exports","excerpt":"As exports of K2 tanks and K9 howitzers to Poland increased, demand rose for gun barrels and weapon assemblies supplied by Hyundai Wia.","excerpt_en":"As exports of K2 tanks and K9 howitzers to Poland increased, demand rose for gun barrels and weapon assemblies supplied by Hyundai Wia."},{"stance":"confirms","publisher":"현대위아","publisher_en":"Hyundai Wia","kind":"ir","lang":"ko","published_at":"2025-06-30","url":"https://www.hyundai-wia.com/upload/download/2025_Sustainability_Ko.pdf","title":"현대위아 지속가능성보고서 2025","title_en":"Hyundai Wia Sustainability Report 2025","excerpt":"현대위아는 K2 전차 주무장을 포함한 육상 화포체계를 생산한다. K2 전차포는 120mm 55구경장 활강포다.","excerpt_en":"Hyundai Wia produces land artillery systems including the K2 tank's main armament, a 120 mm 55-caliber smoothbore gun."},{"stance":"confirms","publisher":"현대위아","publisher_en":"Hyundai Wia","kind":"ir","lang":"en","published_at":"2025-06-30","url":"https://en.hyundai-wia.com/upload/download/2025_Sustainability_En_3.0.pdf","title":"현대위아 지속가능성보고서 2025 (영문)","title_en":"Hyundai Wia Sustainability Report 2025","excerpt":"현대위아는 K2 주력전차의 주무장을 포함한 육상 무기체계를 생산한다.","excerpt_en":"Hyundai Wia manufactures land-based weapon systems including the main armaments for the K2 main battle tank."}]},{"direction":"investor","counterparty":"현대차","counterparty_slug":"hyundai-motor-company","confidence":"high","metric":{"type":"share","unit":"%","as_of":"2025-12-31","basis":"현대로템 2025년 주주현황","value":33.8,"period":"2025 year-end","basis_en":"Hyundai Rotem 2025 shareholder status","qualifier":"largest_shareholder"},"note":"현대차가 보통주 36,856,636주, 지분 33.8%를 보유한 현대로템 최대주주다. 그룹 지배관계이자 방산·철도 설비투자의 장기 자본 연결이다.","note_en":"Hyundai Motor is Hyundai Rotem's largest shareholder with 36,856,636 common shares, or 33.8%, creating a long-term capital link to its defense and rail investment cycle.","sources":[{"stance":"confirms","publisher":"현대로템","publisher_en":"Hyundai Rotem","kind":"ir","lang":"ko","published_at":"2025-12-31","url":"https://www.hyundai-rotem.co.kr/ko/invest/stock/content.do","title":"현대로템 주식정보: 2025년 주주현황","title_en":"Hyundai Rotem stock information: 2025 shareholder status","excerpt":"2025년 주주현황: 현대자동차 보통주 36,856,636주, 지분율 33.8%.","excerpt_en":"2025 shareholder status: Hyundai Motor holds 36,856,636 common shares, a 33.8% stake."},{"stance":"confirms","publisher":"현대로템","publisher_en":"Hyundai Rotem","kind":"ir","lang":"en","published_at":"2025-02-14","url":"https://www.hyundai-rotem.co.kr/upload/2025/2/20250214030004032368.pdf","title":"현대로템 지속가능경영보고서 2024","title_en":"Hyundai Rotem Sustainability Report 2024","excerpt":"2023년 말 최대주주는 현대자동차이며 총 발행주식의 33.77%를 보유한다.","excerpt_en":"As of the end of December 2023, Hyundai Rotem's largest shareholder is Hyundai Motor Company, holding 33.77% of total shares."}]},{"direction":"revenue","counterparty":"방위사업청 (K1/K2 창정비·PBL·장갑차)","counterparty_slug":null,"confidence":"high","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"국내 지상무기 최대 고객 방위사업청 — K1/K1A1 창정비, K2 전차 창정비 요소개발, K1계열 성과기반계약(PBL), 30mm 차륜형대공포·차륜형장갑차 양산. 2026년 K-1 중구난·교량전차 외주정비 계약.","note_en":"DAPA is the top domestic ground-weapons customer: K1/K1A1 overhaul, K2 overhaul development, K1-series performance-based logistics, and 30mm wheeled AA gun and wheeled APC production. A 2026 K-1 recovery/bridge-tank maintenance contract.","sources":[{"stance":"confirms","publisher":"금융감독원 DART","publisher_en":"FSS DART","kind":"filing","lang":"ko","published_at":"2026-06-25","url":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260625800570","title":"현대로템 단일판매·공급계약 (K-1 전차 외주정비)","title_en":"Hyundai Rotem supply contract (K-1 tank maintenance)","excerpt":"체결계약명 'K-1중구난차량,K-1교량전차 외주정비', 계약상대 방위사업청.","excerpt_en":"Contract 'K-1 recovery and bridge-tank maintenance', counterparty DAPA."},{"stance":"confirms","publisher":"금융감독원 DART","publisher_en":"FSS DART","kind":"filing","lang":"ko","published_at":"2026-03-19","url":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260319001275","title":"현대로템 사업보고서 (2025.12)","title_en":"Hyundai Rotem annual report (FY2025)","excerpt":"K1/K1A1 창정비, K2 창정비 요소개발, PBL, 차륜형대공포·장갑차 양산 수주.","excerpt_en":"K1/K1A1 overhaul, K2 overhaul development, PBL, wheeled AA gun and APC production."}]},{"direction":"revenue","counterparty":"국내외 철도 운영사 (레일솔루션)","counterparty_slug":null,"confidence":"mid","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"전동차·고속철 등 레일솔루션이 방산과 병행하는 양대 축.","note_en":"Rolling stock (metro, high-speed) runs alongside defense as the second pillar.","sources":[{"stance":"mentions","publisher":"파이낸셜뉴스","publisher_en":"Financial News","kind":"news","lang":"ko","published_at":"2026-07-09","url":"https://www.fnnews.com/news/202607091020398407","title":"현대로템, 폴란드 K2 3차 계약 윤곽","title_en":"Hyundai Rotem's third Polish K2 contract takes shape","excerpt":"방산 수출 랠리 속 철도 부문 병행.","excerpt_en":"Rail business alongside the defense export rally."}]},{"direction":"revenue","counterparty":"페루 (K2 전차·차륜형장갑차)","counterparty_slug":null,"confidence":"mid","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"페루 K2 전차 및 차륜형장갑차 공급 총괄합의 체결, 차륜형장갑차 사업 우선협상대상자 선정 — 중남미 수출 교두보.","note_en":"A framework agreement with Peru for K2 tanks and wheeled APCs, plus preferred-bidder status on the wheeled-APC program - a Latin America export beachhead.","sources":[{"stance":"confirms","publisher":"금융감독원 DART","publisher_en":"FSS DART","kind":"filing","lang":"ko","published_at":"2026-03-19","url":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260319001275","title":"현대로템 사업보고서 (2025.12)","title_en":"Hyundai Rotem annual report (FY2025)","excerpt":"페루 K2전차 및 차륜형장갑차 공급 총괄합의 체결, 차륜형장갑차 우선협상대상자 선정.","excerpt_en":"Framework agreement with Peru for K2 and wheeled APCs; preferred bidder on the APC program."}]},{"direction":"cost","counterparty":"K2 파워팩 (엔진·변속기, HD현대인프라코어·SNT다이내믹스)","counterparty_slug":null,"confidence":"mid","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"K2 전차 파워팩(엔진·변속기)은 국산화 진행 — 엔진 HD현대인프라코어, 변속기 SNT다이내믹스 계열. 완성차 조립사로 핵심 구동계 외주.","note_en":"The K2 tank powerpack (engine and transmission) has been localized - engine from HD Hyundai Infracore, transmission from the SNT Dynamics line; as integrator, Rotem sources the core driveline.","sources":[{"stance":"mentions","publisher":"금융감독원 DART","publisher_en":"FSS DART","kind":"filing","lang":"ko","published_at":"2026-03-19","url":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260319001275","title":"현대로템 사업보고서 (2025.12)","title_en":"Hyundai Rotem annual report (FY2025)","excerpt":"K2 전차 완성차 조립사로 파워팩 등 핵심 구동계를 국내 협력사에서 조달.","excerpt_en":"As K2 integrator, sources the powerpack and core driveline from domestic partners."}]},{"direction":"cost","counterparty":"철도차량 부품·강재 (대차·의장·알루미늄 차체)","counterparty_slug":null,"confidence":"mid","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"철도차량 대차·의장품·알루미늄 차체·강재 등 부품을 국내외 협력사에서 조달해 조립. 종합기계 조립사 구조.","note_en":"Assembles rolling stock from bogies, fit-out parts, aluminum car bodies and steel sourced from domestic and overseas partners - an integrator model.","sources":[{"stance":"mentions","publisher":"금융감독원 DART","publisher_en":"FSS DART","kind":"filing","lang":"ko","published_at":"2026-03-19","url":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260319001275","title":"현대로템 사업보고서 (2025.12)","title_en":"Hyundai Rotem annual report (FY2025)","excerpt":"철도차량 대차·의장·차체 등 부품을 협력사에서 조달해 조립.","excerpt_en":"Sources bogies, fit-out and car bodies from partners for assembly."}]}]}