Hancom Lifecare (CEO Kim Seon-young), a subsidiary of Hancom and a subsidiary of Hancom and a company specializing in defense and safety equipment, signed an exclusive supply contract for K3 and K11 gas masks with an American company specializing in personal safety equipment (PPE) and successfully delivered the first batch. It was announced on the 10th that the order had been received.
Through this contract, Hancom Lifecare plans to enter the North American market in earnest starting this year and supply K3 and K11 gas masks.
Hancom Lifecare’s K3·K11 gas masks gained the trust of customers based on their excellent quality, production capacity, and military delivery performance. In particular, it demonstrated its international competitiveness by meeting North Atlantic Treaty Organization (NATO) standards and obtaining the European Standard Certification Mark (CE).
As the U.S. market boasts the largest scale in the global defense industry, this entry can be considered an important milestone for Hancom Lifecare. Starting with the first mass production of K5 gas masks in 2015, the company successfully carried out the 7th mass production project by 2023 and was recognized for its stable delivery performance and technological prowess. In December of last year, we signed a contract with the Philippine Army to supply military uniforms worth 10 billion won, and are accelerating our efforts to target the global market through export contracts to North America.
Hancom Lifecare stands out not only in gas masks but also in various defense businesses. We are continuing to expand our business area by demonstrating our capabilities by participating in projects to maximize existing power, such as the K77 fire command armored vehicle rear camera installation project and the local production of ground laser target designators.
Meanwhile, Hancom, the largest shareholder of Hancom Lifecare, has comprehensively re-evaluated the market situation and Hancom Lifecare’s position and growth potential, and has carefully reviewed its stake sale plan in the process of re-establishing a growth strategy through entering the global market. It was later adjusted to withdraw it.
In particular, in order to use this supply contract as a stepping stone to fully advance into the global market, Hancom CEO Kim Yeon-soo will oversee overseas business, and plans to expand export areas not only to the Americas but also to Australia, Europe, and the Middle East. The company predicts that opportunities for overseas expansion will further expand as demand for personal safety equipment, including gas masks, increases due to changes in the global security environment.
In addition, CEO Kim Yeon-soo said, “In line with the growing trend of the defense industry due to intensifying strategic competition between major countries and increasing defense spending, we will explore more in-depth ways to cooperate with Hancom and investment companies within the group, including Hancom Inspace’s satellite and drone business. “We plan to create synergy,” he said.
Source: www.nextdaily.co.kr