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Suwon City Attracts AI Advanced Company ‘Focus HNS’
December 28, 2023
[Reporter Park Beom-cheon, The Korea Economic Daily] Korea’s largest artificial intelligence (AI) supplementary control solution company is entering Suwon City.
On the 13th, Suwon City signed an investment agreement with AI cutting-edge company Focus HNS in the city situation room to establish a headquarters and research center in Suwon City.
According to the agreement, Focus HNS will establish its headquarters and research center in Suwon City and actively invest to create quality jobs and contribute to the development of local industries.
Suwon City plans to swiftly process all administrative procedures, including various permits and licenses, for the establishment of the headquarters and research center, and provide administrative and financial support to ensure that Focus HNS’s business progresses smoothly.
Cutting-edge AI company with unlimited growth potential
If cutting-edge AI companies that will be responsible for future food enter Suwon, quality jobs will be created and the local economy will be revitalized.
Focus HNS is a KOSDAQ-listed company that is a one-stop solution company with hardware, software, and intelligent AI technology.
Founded in July 2012, it is continuing to grow, recording sales of KRW 32.8 billion in 2020, KRW 48.2 billion in 2021, and KRW 61.4 billion in 2022.
In particular, it possesses original technology in the AI camera field and supplies products to major domestic companies such as SK Telecom and SK Shielders (formerly ADT Caps), the second largest domestic security company.
Recently, we have been expanding our business areas by collaborating with major companies to take the lead in the domestic smart parking solution market and launching a next-generation mobility service platform.
We are also developing an unmanned system that utilizes AI technology, such as an elevator camera that detects body movement speed and route, and a facial recognition entry terminal.
The signing ceremony was attended by Suwon Special City Mayor Lee Jae-joon, Focus HNS CEO Kim Dae-jung, Vice President Jeon Jae-hyun, and Suwon Special City Council Planning and Economy Committee Chairperson Yoo Jun-sook.
Mayor Lee Jae-jun said, “With the arrival of spring in March, Suwon has formed a new relationship with Focus HNS, which has the best security control technology in Korea,” and “We are looking forward to the future growth potential of Focus HNS, which has seen its sales increase nearly threefold in the four years since 2018.”
He continued, “We are sufficiently preparing land, finance, and human resources to make Suwon a city that is good for business,” and added, “Suwon City is preparing to cooperate with more good domestic and foreign companies in the future.”
Kim Dae-jung, CEO of Focus HNS, said, “I have lived in Suwon for 35 years since 1988, and I am grateful for this great opportunity in the city I love,” and added, “I want to use AI technology to further benefit society and help the socially disadvantaged.”
He continued, “We are currently steadily expanding our business areas,” and added, “We will further expand our passion with the help of Suwon City.”
Leading the way in creating a business-friendly environment
This agreement is the second fruit of the key pledge of the 8th elected Suwon Special City Mayor Lee Jae-jun, to ‘attract large corporations and other cutting-edge companies.’
This market took its first step toward attracting companies by signing the first investment agreement for the relocation of the headquarters and research center of SD Biosensor, a leading global diagnostic reagent company, upon its inauguration on July 1st of last year.
Suwon City is making efforts in various ways to create a business-friendly environment.
We have prepared support measures such as technology development and marketing support, and the establishment of an integrated care support system. We are also pursuing policy support such as utilizing idle land on national and public lands, applying the ‘Suwon-type regulatory sandbox’ to university and corporate lands, and providing incentives for attracting companies.
Last January, the plan to establish the ‘Suwon Enterprise New Light Fund’ worth 100 billion won to support early-stage startups was also announced. The New Light Fund, which is scheduled to be launched in the second half of this year, will be created by pooling Suwon City’s capital, government policy funds, and private capital.
