Smart Radar System to Supply 800 Million Won Radar Modules to Overseas ITS Companies

Smart Radar System Co., Ltd. (hereinafter referred to as Smart Radar System, CEO Yong-Hwan Kim), a 4D imaging radar specialist, announced on the 7th through a public disclosure that it has signed a contract with an overseas ITS (Intelligent Transport System) specialist company to supply radar modules for intelligent transport systems.

The amount of this supply contract is approximately KRW 800 million, which is 17% of last year's sales, and this supply contract is a repeat purchase case following the completion of delivery in early April of this year, proving the high level of satisfaction with the radar performance of the Smart Radar System and its technological reliability.

Smart Radar System and overseas ITS specialist companies were selected for a new international joint technology development project R&D task in December of last year, and are currently developing an advanced ITS terminal that combines high-resolution 4D imaging radar and cameras with a development goal of 2026. The company expects to secure global business competitiveness in ITS markets such as North America, Europe, and Korea through ▲development of high-resolution 4D imaging radar optimized for ITS terminals ▲performance improvement through sensor fusion of 4D imaging radar and cameras ▲data acquisition and learning for domestic ITS applications.

Meanwhile, Smart Radar System is expected to lead the expansion of overseas-recognized radar technology in the domestic ITS market, including ▲speed detection radar ▲two-way radar ▲rear detection radar ▲motorcycle detection radar, together with domestic image-based technology company Seo (CEO Lee Hyeong-gak and Kim Ho-gun).

Lastly, SmartRadar System CEO Yong-Hwan Kim expressed his ambition, saying, “Through this supply contract and joint technology development, we will lead the development of next-generation transportation system solutions in the field of intelligent transportation system technology and further solidify our position in the global market.”

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