Hanwha Techwin has welcomed the new year with a kick-off ceremony that took place at its Pangyo R&D Center, to announce its 2018 business plan.
At the first new year’s kick-off meeting since his inauguration last August, Youn Chul Kim, President of the Hanwha Techwin security business, explained that Hanwha Techwin’s five core values, i.e. business ethics, good product range, best quality, affordable price and cyber security, must form the basis of the company’s business and operations.
Vertical specific solutions
The 2018 plan entails a greater focus on vertical specific solutions. Building on the momentum created last year, the company will continue to plan and launch solution-specific products, whilst pursuing a deeper understanding of the needs of each vertical to provide sustainable values to end-users.
The second key task for this year involves enhancing technological competitiveness of its storage solutions. Along with its world class security cameras, Hanwha Techwin plans to boost the competitiveness of its increasingly important back-end products, including storage devices and Video Management Software (VMS).Hanwha Techwin opened a new subsidiary office in Dubai last year and plans to start a manufacturing plant in Vietnam during the first quarter of this year
While emphasising the importance of customer value in the security business, President Kim also underlined that the company will continue to fortify its efforts to build greater trust with its valued customers. The video surveillance business is directly relevant to public safety and the individual’s security. Securing customer confidence and trust will therefore fulfill the company’s responsibility as a leading global security company.
President Kim also announced the company’s global market strategy to fuel business growth. Noting the great potential of the video surveillance business in the Asian market, Hanwha Techwin opened a new subsidiary office in Dubai last year and plans to start a manufacturing plant in Vietnam during the first quarter of this year. It also plans to strengthen the company’s sales infrastructure through aggressive investment in the Asian and Middle Eastern markets to expand pre-sales and further broaden its market reach through building better relations with partners and clients.
The North American and European markets are expected to see accelerated sales growth through multiple projects including Hanwha Techwin’s Wisenet X camera series, which was launched last year.
Leading the sector
“The global market changes so rapidly that it is difficult to predict the management situation. We plan to lead the sector by smartly responding to changes in the environment through strategic scenario management,” said President Kim. “To secure key competitive advantages, we will make bold investments while strengthening performance management in each phase. We also plan to contribute to the growth of the security industry by collaborating with other companies in the sector,”
The company earned praise last year for the global launch of the comprehensive series of Wisenet X cameras, which feature the Wisenet 5, System on Chip (SoC) that incorporates the company’s core technologies. The Wisenet X series was named ‘Best New Product of the Year’ by ADI Global Distribution, Europe’s largest provider of video surveillance solutions. It was also the winner of the video hardware category of 2017 Benchmark Magazine Innovation Awards.