Dirax (DRAX) Recognized for Technology and Growth, Selected as One of the 'Innovative National Representative Companies 1000'

Recognized as a New Growth Engine for the Korean Economy... Financial Support Benefits to Be Provided Through Policy Financial Institutions

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Digital fitness platform Diraxfit

DRAX, the No.1 fitness equipment brand in Korea, has been recognized for its technological prowess and growth potential, and selected as one of the '1000 National Representative Innovative Companies' leading South Korea's innovation-driven growth.

The '1000 National Representative Innovative Companies' project is led by the Financial Services Commission along with nine government ministries (Ministry of Trade, Industry and Energy; Ministry of SMEs and Startups; Ministry of Science and ICT; Ministry of Health and Welfare; Ministry of Oceans and Fisheries; Ministry of Land, Infrastructure and Transport; Ministry of Culture, Sports and Tourism; Ministry of Environment; Korean Intellectual Property Office) and policy financial institutions to select representative companies spearheading future innovation. Since July 2020, a total of 279 representative innovative companies were selected over two rounds, and DRAX was chosen in the third round, which selected 321 innovative companies, through recommendation by the Ministry of Culture, Sports and Tourism and evaluation by expert organizations.

DRAX leads the domestic and international fitness equipment industry by being recognized for its outstanding technological capabilities based on an integrated system covering research, development, and product manufacturing. The company’s innovative exercise equipment includes the world’s first treadmill 'Redon' with automatic speed adjustment and 'My Mountain,' which simulates mountain climbing exercise indoors, both based on patented technologies. Additionally, DRAX’s digital platform DRAXFit, which connects fitness and digital technology, has been acknowledged for leading the digital transformation of the fitness industry.

With this selection as an innovative company, DRAX has validated its innovation and technological capabilities and its global growth potential. The company will receive active financial support through policy financial institutions, including loans, guarantees, investment support, increased credit limits, and preferential interest rates.

Moreover, DRAX will receive non-financial support such as technology management, financial consulting, and overseas business development assistance. According to the Financial Services Commission, among the previously selected 279 companies, 140 with funding needs have been supported with a total of 1.7983 trillion KRW.

Yoo Sun-kyung, CEO of DRAX, expressed gratitude for being selected as a national representative innovative company and stated, “We will continue to lead the digital transformation of the global fitness industry through ongoing research and development suited for the Healthcare 4.0 era, beyond Korea.”