Hyundai HT Co., Ltd. and Raonac Co., Ltd. Sign MOU for Digital Door Lock Development

- Strategic Business Partnership between Hyundai HT Co., Ltd. and Raonac Co., Ltd. through Digital Door Lock ODM Supply
- "Starting with the ODM Supply Contract with Hyundai HT Co., Ltd., Both Companies Will Expand Their Businesses"

Hyundai HT Co., Ltd., a smart home specialist company, and Raonac Co., Ltd., a next-generation smart lock integrated solution company, announced that they held a business agreement ceremony centered on signing an ODM supply contract.

A Hyundai HT Co., Ltd. official stated, “With Raonac Co., Ltd. supplying digital door locks through ODM by applying the latest security technology, our product lineup will be further strengthened,” adding, “We expect that this business agreement will usher in a new phase for the digital door lock business focused on distributors and overseas markets, and will gain more momentum.”

[Lee Geon-gu, CEO of Hyundai HT Co., Ltd. (left), and Gu Min-gi, CEO of Raonak Co., Ltd., are taking a commemorative photo after signing a memorandum of understanding for business cooperation.]

According to the business agreement on that day, Raonac Co., Ltd. will develop and supply three types of products to Hyundai HT Co., Ltd., and plans to expand its product range into the B2B sector in the future. Additionally, the two companies will jointly develop products for network interconnection between devices and actively utilize their respective networks to provide consumers with advanced integrated security solutions.

Raonac Co., Ltd. CEO Koo Min-ki said, “Based on our product planning and development capabilities, we will build a strong network with smart home specialist Hyundai HT Co., Ltd.,” and added, “Along with signing the ODM contract, we will closely cooperate by leveraging the networks and capabilities of both companies to create synergy effects.”

Meanwhile, Hyundai HT Co., Ltd. expressed its determination to leap forward as a ‘residential integrated service platform company’ that provides not only AI and IoT-based services but also O2O services and community services to residents through its corporate name change.

Furthermore, the company has been recognized for both technology and design of its products by winning the world’s top three design awards and the CES 2023 Innovation Awards. In addition, it expanded public awareness and distribution sales channels by sponsoring products such as the smart wall pad HNS-R1103, door phones, and door locks in the popular JTBC drama “Jaebeoljip Maknae Adeul.”

Raonac Co., Ltd. is a purely 100% domestic company established by key industry talents who were outraged by the reality that door lock companies started in Korea were acquired by multinational corporations, leading to technology leakage overseas. The company aims for ‘MADE IN KOREA’ throughout all processes including product planning, development, manufacturing, distribution, and service.

Moreover, through its instant locking door lock key-in series, Raonac became the first in the smart door lock industry to achieve cumulative funding exceeding 100 million KRW. Starting with winning the grand prize at the G-Valley Startup Competition last year (Minister of Trade, Industry and Energy Award), the company has also received the Best Award at the 2022 Intellectual Property Startup Competition (Commissioner of the Korean Intellectual Property Office Award) and the CES 2023 Innovation Awards (three categories, three products), gaining recognition for its technological capabilities and growth potential from government agencies and the global market.