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A startup company in Incheon won the Minister of Land, Infrastructure and Transport's commendation at the "Korea Logistics Awards Ceremony" held on the 1st to mark the 24th Logistics Day.

It is 4STEC, a company that develops solutions based on RFID (Electronic Tag) automatic recognition technology.

Seungwon Lee, CEO of 4STEC, is evaluated to have developed IoT-based smart forklift management system and pioneered smart factory logistics efficiency.

IoT-based Smart Forklift Management System is a safety management system that maximizes the utilization of forklifts and prevents human accidents.

This is a product that checks and transfers information of pallets or products with RFID tags attached to forklifts.

Given that it is difficult to secure visibility to check whether large-scale products are transferred to automatic recognition (RFID) when passing a specific gate, it is possible to prevent casualties by recognizing the direction of people around them.

In addition, 4STEC uses RFID to provide records, storage media, supplies, smart forklifts, inscriptions, and NFC member management systems of public institutions or companies.

CEO Seungwon Lee will carry out the project after receiving RFID technology transfer from his previous job and Incheon IT company LNISoft.

When LNISoft went into court management five years ago due to the economic deterioration and finally decided to close down, internal employees cooperated to set up the business.

"At that time, three technical and one sales partners gathered their heads, and I felt difficulty in funding, so only two people were left, and I became the representative of the RFID solutions company for RFID."

Securing business funds was the biggest problem because even monthly salaries were not available.

"There's a saying '3F' in this industry. It's called 'mom, dad, and friend' as three fools who provide business funds. I also started a business in a difficult situation with just 10 million won with the help of my parents. That's how much I was worried and worried."

CEO Lee, who founded the corporation in December 2013, won an order for the Busan Metropolitan Government's integrated standard record management system right after the establishment of the company.

Since sales occurred at the same time as the start, there have been a series of requests for the development of commodity management systems, integrated standard record management systems, and urban facility management systems by local governments and public institutions.

In addition to the company's storage media management system and IT asset management system, it also developed the Seoul Metropolitan Government's passenger car day system.

Although 4STEC is a startup, it recorded sales of 330 million won in 2014 and 540 million won in 2015, and it expects about 1 billion won this year.

4STEC is expanding its scope in South Korea's RFID market by introducing RFID middleware 'U-Star v1.0', mobile server type middleware 'U-Ware v2.0, Smart RFID v1.0' and converged IoT middleware 'Smart IoT v1.0' as its flagship products.

In addition, it is conducting market research on Singapore, Dubai, Saudi Arabia, and the U.S. to develop its goal of entering overseas markets.

"Incheon is a port city, but there are many factories and companies because the national industrial complex is developed. In addition to smart logistics, I would like to contribute to revitalizing the local economy with a system that increases efficiency in the management of records and goods by local governments, public institutions, and companies. Based on this, we will become a company that is recognized for the potential of Incheon startups."

Press Date: November 9, 2016

Source:
http://www.incheonilbo.com/?mod=news&act=articleView&idxno=734819

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