[Asia Economy Reporter Hyungsoo Park] Baekgeum T&A is showing strong performance. The news that it will soon launch new products combining black boxes and radar detectors (RD) to target the U.S. market appears to be influencing its stock price.
At 9:28 a.m. on the 20th, Baekgeum T&A was trading at 4,130 KRW, up 19.19% from the previous day.
Baekgeum T&A, listed on the KOSDAQ market, is a manufacturer of radar detectors and industrial walkie-talkies. A radar detector (RD) is a small electronic device attached to a vehicle’s dashboard. It sounds an alarm when it detects the radar from a speed gun used by traffic police for speed enforcement. CEO Hakgyu Im of Baekgeum T&A stated in an interview with a media outlet, “We will accelerate our U.S. market penetration by soon launching new products combined with black boxes.”
With research results showing that radar detectors help reduce traffic accident rates, the radar detector market is expanding again. As demand, which had contracted due to COVID-19, is increasing again, the related industry expects this year’s market demand to grow more than 1.8 times compared to last year. The rising exchange rate is also enhancing Baekgeum T&A’s competitiveness.
Its subsidiary, MTOmega, earned 83.6 billion KRW out of 84.8 billion KRW in sales overseas last year. MTOmega is targeting the global black box market, estimated at 8 billion USD, by promoting its so-called “0.7-second booting black box.” Having secured technological capabilities, MTOmega is focusing on overseas market expansion beyond the saturated Korean market. MTOmega plans to differentiate its technology level by developing artificial intelligence (AI) black boxes. It is developing edge AI computing technology that applies AI directly to cameras to automatically recognize objects and license plates, and is further advancing additional technologies such as radar integrated into the cameras.
CEO Im said, “Our goal is to list MTOmega on the KOSDAQ market around 2023 and achieve total group sales of 500 billion KRW.”
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