Hanwha Techwin, announces 2018 business plan with 5 core values

Hanwha Techwin welcomed a new year by holding a kick-off ceremony on January 2nd at the Pangyo R&D Center and announced its 2018 business plan.

At his first new year’s kick-off meeting since the inauguration last August, Youn Chul Kim, President of the Hanwha Techwin security business, stressed that Hanwha Techwin’s «five core values- business ethics, good product range, best quality, affordable price and cybersecurity— must form the basis of the company’s business and operations.»

The first plan entails stronger focus on vertical-specific solutions. Building on the momentum created last year, the company will continue to plan and launch solution-specific products this year while also pursuing deeper understanding of each vertical’s needs to provide sustainable values to end-users.

The second key task for this year includes enhancing technological competitiveness of back-end storage devices. Along with its world-class security cameras, Hanwha Techwin plans to boost the competitiveness of its growingly important back-end products including storage devices and VMS.

While emphasizing the importance of customer value in the security business, President Kim thirdly underlined that the company shall continue to fortify its effort to build stronger trust with its valued customers. The nature of video surveillance business is directly relevant to public safety and individual’s security; thus, he affirmed that securing customer confidence and trust would fulfill the company’s responsibility as a leading security company in Korea and abroad.

Furthermore, he announced the company’s global market strategy to fuel business growth. Observing the great potential of video surveillance business in 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 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 client companies.

The North American and European markets are expected to see accelerated sales growth through multiple projects including Hanwha Techwin’s Wisenet X series and its products, which launched last year.

«The global market changes so rapidly that predicting the management situation is difficult, so 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 security industry by working together with other companies in the sector,» he added.

The company earned praise last year for the worldwide launching of Wisenet X series, featuring Wisenet 5, the SoC which culminates the company’s core technologies, and released a full lineup from entry to advanced level.

The Wisenet X series was named «Best New Product of the Year» by ADI, Europe’s largest provider of video surveillance solutions. It also earned top honors in the video hardware category of the annual Benchmark Award, an award given by the British security magazine «Benchmark.»