Hanwha Techwin has welcomed the New Year with a ceremony which took place at the company’s Pangyo R&D Centre. The ceremony offered an opportunity for the surveillance specialist to announce its business plan for 2018.
At the first New Year meeting since his inauguration last August, Youn Chul Kim (president of Hanwha Techwin’s security business) explained that the company’s five core values (ie business ethics, a good product range, best quality, affordable price and cyber security) must form the basis of its business and operations going forward.
The 2018 business 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, while also pursuing a deeper understanding of the needs of each vertical sector in order to provide sustainable value for end users.
The second key task for this year involves enhancing the technological competitiveness of the business’ 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).
While emphasising the importance of customer value in the security business, 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 security of the individual. Securing customer confidence and trust will therefore fulfil the company’s responsibility as a leading global security company.
Fuel business growth
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.
The company is also planning to strengthen its 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 involving Hanwha Techwin’s Wisenet X Series of cameras which was launched last year.
Responding to change
“The global market changes so rapidly that it’s difficult to predict the management situation,” stated Kim. “We plan to lead the sector by smartly responding to changes in the environment through strategic scenario management. 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.”
Hanwha Techwin earned praise last year for the global launch of its comprehensive Wisenet X Series cameras which feature the Wisenet 5 System on Chip which incorporates the company’s core technologies.
Indeed, Wisenet X 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 in the 2017 Benchmark Magazine Innovation Awards.