Safeware (CEO Shin Hwan-cheol), a developer of innovative safety solutions, was selected as a promising small and medium-sized business in Gyeonggi-do in recognition of the excellence and innovation of its smart wearable airbags.
The Gyeonggi-do Promising Small and Medium Business Certification is a business support system that discovers small and medium-sized businesses in Gyeonggi-do with great potential and develops them into local economy leaders. Promising SMEs in Gyeonggi-do are selected through a comprehensive evaluation of the candidates’ sales performance, including the proportion of exports and the number of intellectual property rights and certifications.
Safeware came up with the concept of this wearable fall-prevention airbag, developed its core technology, and successfully commercialized it. The company successfully sold its products and turned a profit without receiving any outside investment. In addition, in recognition of the product’s innovation, the company received the CES Innovation Award for three consecutive years, participated in IFA 2023 as one of the innovative companies, and won the gold medal of the 2023 Edison Award, attracting the attention of the global market.
By being selected as one of the promising small and medium enterprises in Gyeonggi-do, Safeware will receive a certificate and certification plaque in the name of the Governor of Gyeonggi-do and financial support for its advertising and promotion costs. In addition, 61 types of incentives will be provided by nine other public institutions.
Jung Do-woo, vice president of Safeware, said, “It is very meaningful to us that our company was selected as a promising company in Gyeonggi-do in fierce competition with other competent companies.” He continued, “With various support from organizations in Gyeonggi-do, we plan to develop more new products using this airbag technology and market them domestically and internationally. Ultimately, our goal is to protect many people from danger.”
Safeware’s headquarters is located in Pangyo Techno Valley, and the company’s flagship product, C3, the smart wearable airbag, is supplied to a total of 900 public and private companies, including KORAIL, Korea Expressway Corporation, Samsung, LG, Hyundai Engineering & Construction, and POSCO E&C.
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