Sharing Growth Momentum Based on Global Leadership to Commemorate 10th Anniversary of Domestic Subsidiary Establishment
Expanding Cooperation with Telecommunications Operators and Domestic Small and Medium-Sized Technology Companies

Telit (CEO Derek Shang) announced on the 13th that on the occasion of the 10th anniversary of its Korean subsidiary establishment, it plans to share its leadership in the global market with domestic small and medium-sized technology companies and expand cooperation with telecommunications operators to continuously drive strategic investments so that the Internet of Things can be widely utilized in various fields.

Telit, marking the 10th anniversary of its Korean subsidiary establishment this year, serves as the Asia-Pacific regional headquarters overseeing sales and marketing for China, Japan, India, Australia, Taiwan, and Southeast Asia regions, and has expanded its domestic workforce from 25 employees at the time of establishment to approximately 130 employees at present.

Telit, which operates R&D centers at eight locations worldwide including the United States, Europe, and Israel, also operates an R&D center with 100 employees in Korea. The company possesses equipment and technical capabilities for obtaining overseas telecommunications network certifications including R&TTE/FCC, CE/UL, and GCF/PTCRB, and specializes in automotive-specific product lines.

Kim Hee-chul, Executive Vice President of Telit Korea Sales, stated, "The most significant reason we have been able to maintain continuous growth over the past decade is because we are the only company in the industry that has focused exclusively on IoT. Having supplied approximately 18 million modules to the IoT market based on last year's figures and recording the highest shipment volume globally, we plan to continue strategic investments so that the Korean market can emerge as a new cradle of the Internet of Things by sharing our competitive advantages built in the global market and collaborating with domestic small and medium-sized enterprises and telecommunications operators."

According to the Korea Information Society Development Institute, the domestic IoT market is projected to grow from 3.8 trillion won in 2015 to 22.9 trillion won in 2022. Telit has verified its expertise in various sectors including the Ministry of Health and Welfare's elderly living alone project and the Korea Meteorological Administration's automated weather observation equipment construction project. In particular, recently, in addition to existing cellular, short-range, and location-based technology module businesses, the company is adding platform business to support customers attempting IoT construction to reduce risk and costs, shorten time-to-market, and eliminate complexity related to asset management.

Additionally, through partnerships with small and medium-sized enterprises for expert cultivation, the company provides R&D support and integrated services, and is also building a global industry-academic cooperation model in collaboration with Jeju National University to discover future talent.

Fred Yentz, President of Telit's IoT Platform Division, who visited Korea to commemorate the 10th anniversary of subsidiary establishment, stated, "Telit recorded 70% growth in the Asia region last year, and Korea is a key market driving this high growth. Given that creative initiatives are continuously being attempted, we plan to continue expanding partnerships with domestic companies to discover various opportunities in the future."