JS Link

A KOSDAQ-listed Korean company, formerly the genome-analysis firm DNA Link, that makes sintered NdFeB magnets from in-house strip-cast alloy at a 1,000 t/yr plant in Yesan, with Lynas as exclusive rare earth supplier and planned plants in Malaysia and the US.

Points to check

Facts from the sources on this page that a reader should weigh before relying on the company's own figures.

About 99% of 2Q 2026 revenue came from genome-analysis services and 1% from rental income; no magnet revenue has been reported (butler.works).
The company has reported operating losses every year since 2018; the 2025 operating loss was KRW 12.5bn on KRW 19.3bn revenue (Dealsite; butler.works).
The first mass-production order is 360 kg (about US$120,000) against a 1,000 t/yr nameplate, with deliveries from Dec 2026 (Money Today/The Bell, 4 Sep 2026).
The REalloys LOI is non-binding, and the release states there can be no assurance definitive agreements will be executed (GlobeNewswire via Taiwan News, 7 Jul 2026).
No construction start has been announced for the Malaysian or Georgia plants; Lynas's July 2026 quarterly gives no construction or production dates for Malaysia.

At a glance

Founded

2000 — Founded in 2000 as DNA Link, a genome-analysis company (not a medical/ultrasound parts maker), and listed on KOSDAQ in 2011 under the technology special-listing route. It entered rare earth permanent magnets in 2024, logistics forwarder Juseong C&Air became largest shareholder on 26 Mar 2025, and the company was renamed JS Link in March 2025.

Headquarters

Seoul (Magok, Gangseo-gu), South Korea

Ownership

Public, KOSDAQ: 127120. Largest shareholder Juseong C&Air (18.56% as of 10 Oct 2025, per CNews); National Pension Service disclosed 5.05% (2026, simple investment, per Dailian); Lynas Rare Earths about 4.58% fully diluted after a KRW 53.39bn placement closed 29 Jul 2026 (3-year lock-up).

Stage

JS Link: Developing. The 1,000 t/yr Yesan plant has made trial batches since October 2025; its first mass-production order, 360 kg, ships from December 2026, and the company reports no magnet revenue yet.
JS Link — Kuantan, Malaysia: Early stage. A 3,000 t/yr plant in Kuantan with Lynas supplying feed until 2038; no construction start announced, and commercial operation targeted by early 2028.

Listing

KOSDAQ: 127120
KOSDAQ: 127120
Listed through its parent or partner. A JS Link subsidiary; Lynas holds about 4.6% of JS Link.

Revenue

KRW 19.3bn revenue; KRW 12.5bn operating loss; KRW 16.4bn net loss
Reported, FY2025 (calendar year).
Source

Capacity

Each date below links to the document the figure came from. A capacity figure with no source is not on this page.

What	Figure	Status	As of
Sintered NdFeB magnet blocks, Yesan plant	1,000 t/yr nameplate (company figure)	Commissioned	Oct 2026
Actual magnet output, Yesan	Not disclosed. Reported batches: ~1.8 t trial batch of 42SH (Oct 2025); first mass-production order 360 kg of 45SH, deliveries from Dec 2026	Pilot scale	Sep 2026
NdFeB alloy flake (strip cast), Yesan	Not disclosed; expansion line due for completion Oct 2026, partly for external sale	Under construction	Oct 2026
Sintered NdFeB magnets, Kuantan, Malaysia	3,000 t/yr planned capacity	Announced	Jul 2026
Permanent magnets, Columbus, Georgia, USA	3,000 t/yr predicted (Georgia Governor, Sep 2025); 5,000 t cited by Dealsite (Apr 2026)	Announced	Apr 2026

Narrative

JS Link, Inc. was founded in 2000 as DNA Link, a genome-analysis company, and listed on KOSDAQ in 2011. It added rare earth magnets to its business in 2024, and logistics forwarder Juseong C&Air became its largest shareholder in March 2025, the month the company took the JS Link name. Its magnet plant in Yesan, South Chungcheong, South Korea, has a stated nameplate of 1,000 t/yr of sintered NdFeB blocks; the plant casts its own alloy flake, sinters, heat-treats, applies grain boundary diffusion and post-processes blocks. A trial batch of about 1.8 t of grade 42SH was reported in October 2025, and the Korea Institute of Materials Science verified N52 and 45UH samples in March and July 2026. On September 4, 2026, JS Link disclosed its first mass-production purchase order: 360 kg of 45SH magnets, worth about US$120,000, for an unnamed North American robot-parts maker, with deliveries from December 2026; a long-term contract was still under negotiation. Company investor material reported in October 2026 also cites a five-year, 50 t/yr contract with BEC of Germany for 2027 to 2031, which has not been found in an exchange filing. Lynas Rare Earths signed a non-binding memorandum of understanding with JS Link in July 2025 and a partnership agreement on July 7, 2026. Under it, Lynas is the exclusive supplier of rare earth materials to Yesan and a planned Malaysian plant until January 2038, at commercial prices, and invested about A$50 million for about 4.58% of JS Link; the share placement closed on July 29, 2026. The Malaysian plant, in Kuantan next to the Lynas Malaysia plant, is planned at 3,000 t/yr of sintered NdFeB magnets and is to be built and run by a JS Link subsidiary. Reuters reported the investment at RM600 million (US$142 million) in November 2025, and JS Link targets commercial operation by early 2028; no construction start has been announced. In the United States, JS Link America announced a US$223 million plant in Columbus, Georgia, in September 2025, with a predicted 3,000 t/yr and operation in late 2027, and JS Link signed a non-binding letter of intent with REalloys on July 7, 2026 to evaluate a North American magnet platform. In FY2025 the company reported KRW 19.3 billion of revenue and a KRW 12.5 billion operating loss, and about 99% of second-quarter 2026 revenue came from genome-analysis services.

Where public sources disagree

Georgia plant capacity: 3,000 t/yr (Georgia Governor's office, 3 Sep 2025; Financial News, 11 Aug 2025) vs 5,000 t (Dealsite, 6 Apr 2026).
Malaysia plant cost: RM600M (US$142M) for the facility (Reuters via Yahoo Finance, 2 Nov 2025; Business Today, 1 Nov 2025) vs RM142M (US$35M) headlined by Malay Mail (7 Jul 2026), which is the value of Lynas's equity investment in JS Link, not the plant cost.
North American robot-parts customer: Money Today/The Bell (4 Sep 2026) says the long-term supply contract is still under negotiation; Seoul Economic TV (2 Oct 2026) says a long-term supply contract was signed; Lead Economy (8 Oct 2026, citing company IR) says talks on 100 t/yr are underway.
Malaysia site work: Business Today (1 Nov 2025) says groundwork is underway; Reuters (2 Nov 2025) says only that land was purchased; Lynas (22 Jul 2026) gives no construction dates.
Total planned magnet capacity: 9,000 t across Korea, Georgia and Malaysia (Dealsite, Apr 2026) vs 'above 4,000 t' for Korea 1,000 t + Malaysia 3,000 t + US and others (company IR via Lead Economy, Oct 2026).

Sources

Lynas-JS Link partnership agreement (ASX) — Lynas Rare Earths (2026-07-07)
First mass-production PO (Korean) — Money Today / The Bell (2026-09-04)
JS Link IR: capacity, orders, Lynas supply (Korean) — Lead Economy (2026-10-08)
Lynas placement closed; 45UH verified (Korean) — Dailian (2026-07-31)
Malaysia plant target early 2028 (Korean) — Money Today / The Bell (2026-07-23)
Lynas quarterly report to Jun 2026 — Lynas Rare Earths (2026-07-22)
REalloys-JS Link non-binding LOI — GlobeNewswire via Taiwan News (2026-07-07)
Georgia plant announcement — Office of the Governor of Georgia (2025-09-03)
Financials, losses, history, 9,000 t plan (Korean) — Dealsite (2026-04-06)
Annual financials and revenue mix (Korean) — butler.works (2026-10-16)
Quarterly income statement (Korean) — valueline.co.kr (2026-10-16)
Alloy flake line expansion (Korean) — Seoul Economic TV (2026-10-02)
N52 sample verified (Korean) — Money Today / The Bell (2026-03-24)
First trial batch 42SH (Korean) — CNews (2025-10-13)
Lynas-JS Link MoU (ASX) — Lynas Rare Earths (2025-07-24)
Malaysia plant RM600M (Reuters) — Reuters via Yahoo Finance (2025-11-02)
Malaysian subsidiary KRW 50bn contribution (DART summary) — StockHub (2026-03-25)
Juseong C&Air takes control (Korean) — Money Today / The Bell (2025-04-08)
REalloys R&D head visits Yesan (Korean) — Money Today / The Bell via Supple (2026-07-20)
REalloys LOI status, Malaysia 2028 (Korean) — eToday (2026-08-06)
Lynas deal coverage — Malay Mail (2026-07-07)
Lynas deal coverage — Australian Mining (2026-07-07)

How this page is sourced

Everything here comes from public sources — company filings, annual reports, exchange announcements, government releases and trade press. Every figure is linked to the document it came from and carries the date that document was published, because a capacity number without a date is not a fact, it is a rumor with a decimal point.

What is deliberately absent: material nonpublic information. I have spent more than two decades in this industry and a good deal of what I know about these companies I learned under NDA. Those obligations do not expire and they do not bend for a website. Nothing I have been told in confidence appears here in any form, and nothing on this page — or missing from it — should be read as a signal about what I know privately. I hold NDAs absolutely. It is the reason clients tell me things.

Judgment is the other thing left out on purpose. This page reports what has been published and who published it. Whether a target is credible, whether a ramp will hold, whether a capacity figure survives contact with the plant behind it — that is the work I do for clients, and it does not belong in a free reference page.

Where public sources disagree, I say so rather than picking a winner. Where a figure has not been published, the field says so rather than carrying an estimate. An empty field is information too.

Public filings tell you what a company has said. Whether it holds up is a different question, and the one I get hired to answer.

Get in touch

← Back to JS Link in the atlas · the full supply chain atlas