Hangeul and Computer subsidiary, Hancom Lifecare, a company specializing in defense and safety equipment, has successfully made its entry into the North American market by signing an exclusive contract to supply K3 and K11 gas masks to a U.S. personal protective equipment (PPE) company. Amid re-evaluations of its global market growth potential, Hancom has decided to retract its initial plan to sell stakes in Hancom Lifecare and focus its group resources on penetrating overseas markets.
Hancom Lifecare announced on the 10th that it has secured an initial order as part of the exclusive supply contract for the K3 and K11 gas masks. This year marks the beginning of its active expansion into the North American market with deliveries planned.
Since commencing production of the K5 gas mask in 2015, Hancom Lifecare has successfully completed up to the seventh production phase by 2023, earning recognition for stable delivery records and technological capability. In December of last year, the company signed a 10 billion won military uniform supply contract with the Philippine Army, further accelerating its approach to global markets through its recent North American export contract.
In addition to gas masks, Hancom Lifecare is also making strides in various defense projects, such as installing rear cameras on the K77 Artillery Command Vehicle and domestic production of ground laser target designators, thereby expanding its business areas through active participation in existing power maximization projects.
Additionally, major shareholder Hancom, having re-evaluated the market conditions and prospects for Hancom Lifecare, adjusted its strategy to cancel plans to sell its stake in favor of a growth strategy oriented towards global market entry.
To drive this global expansion, Hancom CEO Kim Yeon-soo will oversee international business operations, with plans to broaden export regions beyond North America to Australia, Europe, and the Middle East. As global security environments evolve, the company anticipates increased demand for personal protective equipment like gas masks, offering expanded opportunities for international business.
Kim Yeon-soo is also expected to deeply explore synergistic opportunities, aligning with growing global defense industry trends spurred by intensified strategic competition between nations and increased defense spending. This includes seeking collaborative avenues with Hancom InSpace’s satellite and drone business and other Hancom Group investment partners.