According to a report by IDTechEx, a consulting company, the global electronic tag (RFID) market is expected to reach $9.2 billion this year and exceed $20 billion in 2018.

4STEC (CEO Seungwon Lee http://4stec.com) is a technology-based start-up that applies RFID technology to records management systems and commodity management systems.

The combination of record preservation management and RFID can result in significant reduction in working hours and cost savings.

4STEC changed its existing system, which used to manage 5,000 volumes of records on a day, to a system that can check up to 40,000 volumes by applying RFID. According to the company, if the new system is applied to more than 700 public institutions in South Korea, it can save 15.5 billion won annually.

4STEC’s core development competitiveness is the integrated RFID software. It has minimized initial and maintenance costs by unifying systems by devices such as PCs and mobile devices. It is explained that it reduces the hassle of individual work and provides efficient work environment and technical support services.

Recently, the company supplied a RFID records and commodity management software “Smart RFID” to the National Assembly Library and the Busan Metropolitan Government’s standard record management system to increase sales performance. The Smart RFID recognizes items and records with RFID to facilitate management and prevent unauthorized leakage of security records.

This technology has been selected for a start-up growth technology support project organized by the Small & Medium Business Corporation and is receiving R&D funding and applying for professional development personnel and patents.

CEO Seungwon Lee earned a doctorate in U-City engineering from Sungkyunkwan University and gained field know-how on RFID hardware and software technology from Seyeon Technology and L&I Soft for eight years.

CEO Lee said, “As RFID software technology is recognized, we are planning to actively challenge global markets as well. We will try to make short term sales results by applying RFID software solutions to optimal service areas.”

Press Date: 2014.5.18

Source:http://www.etnews.com/20140516000076

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