The strategy of Geon-soo Lee, CEO of Geon-am, who left a large corporation in his early 50s to start his own company, and who is using his 20 years of field experience as a weapon to penetrate niche markets in regulated industries, is attracting attention.
Safety management at construction sites has been a dilemma. While real-time monitoring of a vast site is essential, wired broadcasting equipment has limited management capabilities once installed. Furthermore, workers have difficulty listening to broadcasts in emergency situations. His RVOS system, which he developed, utilizes wireless fixed and mobile CCTV and safety LED rolls to enable real-time communication anywhere on the site.
The system supplied to snow removal vehicles in Anyang City, Gyeonggi Province, has dramatically improved the efficiency of snow removal operations by enabling real-time video confirmation and voice communication between the control room and the vehicles.
Technical solutions created through 20 years of field experience
CEO Lee Geon-su left behind a stable career at Sungwon Construction, Woorim Construction, Subone, and LG Uplus to pursue entrepreneurship. His background seems more closely aligned with corporate safety practices than with startups. The motivation for his decision to pursue a technology-based entrepreneurship was clear. After working as a safety manager for a long time at construction sites, he developed a deep-seated regret about broadcasting equipment.
Existing wired broadcasting equipment is difficult to maintain after installation, and workers are often cut off from broadcasting in emergencies. If their smartphones don't work underground, they have no way to contact anyone. Faced with these concerns, he acquired telecommunications knowledge and related information while working at LG U+ and developed the RVOS system, a smart wireless broadcasting system for industrial sites.
CEO Lee Geon-su recalled, “I had a strong desire to create a system that would allow anyone to easily report the situation in an emergency.”
Based on the RVOS system, Geonam manufactures wireless fixed and mobile CCTV systems, safety LED rolls, and more. Other products are tested in-house and offered according to customer needs.
CEO Lee Geon-su's product development philosophy is simple yet powerful.
"I regularly visit industrial customers to listen to their concerns. It's important to have face-to-face conversations. Sharing a cup of tea and communicating with them helps me understand what features the product needs."
Geonam's product line is complex. Its technology portfolio is broad and its designs are tailored to specific needs, yet it also exudes the agility and tenacity of a startup. Holding three related registered patents, he transforms field-related problems into "intellectual property."
CEO Lee Geon-su's answer is clear.
"We upgrade our RVOS system every year. We listen to our customers' feedback and develop products accordingly. Our goal is to create products that provide practical benefits. Our goal is to achieve superior technology and competitive pricing."
The "ChatGPT-based AI CCTV" system recently unveiled by Geonam exemplifies this field-focused development philosophy. CEO Lee Geon-su offers a realistic explanation of this system, which automatically reports incidents such as failure to wear a hard hat or the detection of a fall.
"There are some misconceptions about AI CCTV. People think AI is like something out of a science fiction movie, perfectly capturing everything. However, the current AI CCTV features are conservatively structured."
For smoke detection, if there is fog outdoors, the system may detect it as smoke and sound an alarm. This means the system cannot yet distinguish between smoke and fog.
"While further refinement is needed, AI CCTV initially recognizes smoke as a fire. The user then makes the final judgment. The ChatGPIT-based AI CCTV system operates in the same way. It conservatively assesses all footage and provides early warnings."
The practicality of this system shines through its automatic report generation feature. This is particularly effective in situations where continuous CCTV footage cannot be viewed. If you're unable to monitor the situation on-site due to an overnight business trip or meeting, simply accessing the web automatically generates a notification report, allowing you to view the situation at a glance.
Turning Regulation into Opportunity: A Small but Strong Growth Strategy
Geonam's business model is somewhat unique in the startup ecosystem, which is dominated by SaaS and platform-centric offerings. When asked why it sticks to a hardware-centric subscription or build-to-order model, CEO Lee Geon-su emphasizes the unique characteristics of the industrial environment.
"We started our business with an RVOS system that's essential for industrial sites. Quality hardware is crucial. While some safety work in industrial settings takes place in the office, everything happens on-site. Having the right hardware products for the job helps prevent accidents and contributes to increased safety awareness."
His core belief is that building a good platform requires good hardware. Understanding the importance of hardware suited to industrial environments, Geonam operates some of its products through leases and buybacks. Buybacks allow for use during the construction period after an initial payment, and are less expensive than leasing or purchasing.
Geonam's organizational structure is also unique. It employs three people, with additional staff added on a project-by-project basis as needed. CEO Lee Geon-su's organizational philosophy is clear: "A company that survives is a strong company. A strong company builds trust in its employees. I believe that this, in turn, leads to rapid growth for a strong, small company, and increased job satisfaction for its employees."
His stance on attracting investment is also unique. Gunam has never received external investment and has never established contacts with venture capital firms. Instead, it relies on loans from the Korea Technology Finance Corporation.
CEO Lee Geon-su cited the snow removal vehicle project in Anyang, Gyeonggi Province, as his most memorable project. This project involved installing CCTV and voice communication devices inside snow removal vehicles, enabling real-time monitoring of footage from the control room and voice communication with the snow removal driver.
"Snow removal vehicle management and snow removal operations were carried out efficiently, and the needs of our clients were reflected in product development."
The client's needs were clear. They wanted to view and save snow removal video in real time. They also wanted to communicate with snow removal drivers without having to call them. We installed our own servers and developed the product the customer wanted.
"I've heard that installing the RVOS system has made emergency drills easier. It's rewarding to hear that we can now easily and regularly teach basic safety rules to foreign workers."
CEO Lee Geon-su's perspective on regulated industries is unique. Unlike many startups who view regulations as barriers, he transforms them into opportunities.
"It's unfortunate that industrial safety is perceived as a regulated industry. The mandatory nature of relevant laws and the quantitative provisions of relevant regulations can actually undermine the autonomy of industrial sites. However, regulations also present opportunities for the creation of new markets. It's crucial to understand the implications of regulations and identify business areas that satisfy customers."
His core strategy is to develop business areas that satisfy customers, while responding sensitively to changes in regulations and systems based on decades of field experience.
The reason CEO Lee Geon-su chose to start a startup is simple.
"Starting a business isn't easy. It's a battle against yourself. It feels like you're walking a path uncharted. It can be lonely and isolating. But the sense of accomplishment and growth that comes with it."
His advice is that while preparing to start a business is important, your mindset is just as important when running a business.
He left us with a final, powerful metaphor.
"If you look at the gaps in the road median strip, you'll sometimes see dirt piling up and weeds growing. It's a sign of strong vitality. It takes this kind of vitality to start a business and succeed."
CEO Lee Geon-soo, in his early 50s, left a stable, large company to explore a niche market in a regulated industry. His company has achieved 20% annual growth without investment, relying solely on loans from the Korea Technology Finance Corporation. His strategy of translating voices from the field into products is as resilient as a weed growing in a gap in a median strip. While it may seem out of place in the vibrant startup ecosystem, Geon-am's approach is opening new horizons for industrial safety, leveraging the powerful weapon of the field.
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