Plans to Concretize Business Models for Creating Synergy Among Subsidiaries

MDS Technology, a subsidiary of Hancom Group (hereinafter Hancom), has changed its company name to 'Hancom MDS' and is embarking on a new leap forward as a promising company in the era of the fourth industrial revolution.

Hancom MDS announced on the 1st that the agenda for the company name change was approved at a shareholders' meeting held at Hancom Tower in Pangyo. By placing the brand of 'Hancom Group,' Korea's largest comprehensive software group, at the forefront, Hancom MDS aims to enhance corporate recognition and credibility and to establish a growth foundation for future expansion into the ICT sector.

Hancom MDS plans to accelerate the concretization of business models to create synergy with its subsidiaries in light of this company name change. The company plans to expand its business and strengthen solution competitiveness by applying Hancom MDS's embedded software technology to hardware solutions such as those from Unimax Information Systems, a developer of defense and aviation boards, and Teladin, a communications modem manufacturer.

Hancom MDS is promoting collaboration with Hancom Secure, a subsidiary specializing in security solutions within the group, in the IoT security field, and plans to showcase innovative products by collaborating with 'Sancheong,' a personal protective equipment company recently acquired by Hancom, to drive convergence between safety equipment and core fourth industrial revolution technologies.

Jang Myung-seop, CEO of Hancom MDS, stated, "In the fourth industrial revolution market characterized by connectivity, convergence, and intelligence, there are unlimited business fields where embedded and IoT technologies can be applied," and added, "We will secure growth momentum as an intelligent convergence solution specialist company through active discovery of new markets and creation of synergy among subsidiaries."

Hancom Group owns a total of 16 subsidiary companies, including four listed companies such as Hancom, Hancom MDS, Hancom Secure, and Hancom GMD, as well as Sancheong, with which it concluded an acquisition agreement in July. Through aggressive M&A and business diversification strategies from software to hardware, the company is establishing a stable growth foundation and is expected to achieve revenue of 500 billion won this year.