29-DEC-2016] Huneed Technologies, Co., Ltd. (Eugene Kim, Chairman / www.huneed.com, KOSPI 005870) revealed in a year-end statement that the company exceeded its 2016 HCTRS Batch-1 contract target by 12.6 billion KRW ending the year at 124.2 billion KRW. The program's total year end revenues alone represent more than doubling of the company’s turnover in 2015.
The HCTRS (High Capacity Trunk Radio System) developed in-house by Huneed Technologies serves as the wireless communication backbone of the ROK Armed Forces’ next generation TICN (Tactical Information and Communication Network) . The Program went into mass production in September 2016.
Eugene Kim, the Chairman of Huneed Technologies said, “Our company is thrilled with the successful on schedule completion of the Batch-1 HCTRS mass production. Huneed will bring continued focus to the program by meeting the needs of the ROK armed forces and ensure that the company’s mid and long term revenue growth for our shareholders are delivered.”
Clear growth path for Huneed Technologies’ HCTRS communication equipment in 2017 has been assured by the 370.5 billion KRW budget allocated by the Korean government for the TICN program.
About TICN Program
With an approximate total program budget of 5.4 Trillion KRW, the TICN program represents one of the largest military investments to date. The program will enable Korea’s military to operate under the theory of Network-centric Warfare in future battlefield environments
The aim of the TICN program is to seamlessly migrate to the new 3rd generation tactical communication system from the current 2nd generation SPIDER platform. When the TICN program is completed, the ROK Armed Forces will be able to leverage the use of networked technology to provide battlefield advantage based on shared real time information.
About Huneed Technologies
Huneed Technologies is a leading Korean Defense SME in Communications and Aerospace.
For the past 49 years, Huneed Technologies provided key tactical network equipment and systems to Korea’s armed forces and currently provides the latest next generation tactical communication backbone (TICN) through the High Capacity Trunk Radio System (HCTRS) platform.
Huneed Technologies continuously holds Boeing Tier-1 Gold Ranking, the highest supplier classification. Coupled with proven core capabilities in airborne electrical systems and excellence in quality, delivery and value, Huneed Technologies is fast becoming a trusted partner in the aerospace industry with partners such as Airbus Defense & Space, Airbus Helicopters, Safran, Korea Aerospace Industries and Northrop Grumman.
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Continued Growth