'The Opening of the Smart Military Era'
Huneed Technologies (Eugene Kim, Chairman / www.huneed.com KOSPI 005870) announced today that it has entered into an agreement with DAPA (Defense Acquisition Program Administration) worth KRW 111.6 billion to supply HCTRS (High Capacity Trunk Radio System), which is a core subsystem of the next-generation TICN (Tactical Information Communication Network) program. Under the contract, which is for the initial HCTRS requirement of the ROK Armed Forces for the year 2016, Huneed will earn an amount equal to 277% of the company’s revenues for the previous year.
The aim of the TICN program is to develop a next-generation military tactical information communication network that will replace SPIDER, which was deployed in 1998. When the TICN program is completed, the ROK Army will be able to integrate the military communication network and deliver diverse types of battlefield information in real time. With these competencies, the ROK Army will also be able to connect weapons systems including the upgraded ATCIS (Army Tactical Communication Information System), which is enabling the real-time communication of large-volume data, including voice and video data. In addition, the real-time sharing of operation status promptly facilitates decision-making by the commander, further reinforcing the national security system by upgrading it to truly digital armed forces that can meet the needs of the smart military era, which the government has declared as a priority.
Approximately KRW 5.4 trillion, the largest budget ever, will be invested in the TICN program. When the program is completed, TICN will serve as a backbone of the communication network for Korea's military to achieve Network Centric Warfare in the future battlefield environment.
Huneed Technologies is a defense system provider that has supplied key tactical network equipment and systems to Korea’s armed forces for 47 years. In 2006, the company launched its aerospace business with an investment from the world-leading aerospace company, Boeing. Today, pilots from the US Air Force, the US Navy, the Republic of Singapore Air Force and the Royal Saudi Air Force use F-15s and F/A-18s that apply electrical panels made by Huneed.
Huneed Technologies was able to achieve its excellent technological competencies and processes by working in the domestic and international defense and aerospace markets. The company was recently honored by the Minister of National Defense as the best defense SME with defense export, and as the best SME with PMS (Productivity Management System) by the Minister of Trade, Industry and Energy.
Commenting on the agreement, Chairman of Huneed Technologies Eugene Kim said, “Huneed Technologies, which is the only system integration provider among SMEs in the tactical communication field, is fully prepared to mass produce the world-class HCTRS, which it has developed over the past eight years using Korean indigenous technology under the supervision of the Agency for Defense Development. In addition, we believe that Huneed Technologies will secure dramatic mid- to long-term growth through the mass production of HCTRS. Huneed Technologies is also developing the high-speed wireless transmission systems that will enable us to advance into the global tactical communication markets, building on the competencies we secured through the development of HCTRS. The company will expand exports of this system, which provides the world’s best performance and price competitiveness, and prove its technological excellence in the global market.”