South Korea has faced its fair share of challenges in recent years, including disruptions in supply chains due to export restrictions and the impact of the Covid-19 pandemic. Twinny, a Korean tech SME, is navigating the task of cultivating future growth momentum to enhance the country’s technological prowess.
In the Robotics sector, Korean companies are striving to compete globally but face challenges due to modest scale and limited competitiveness. Despite this, Twinny sees significant potential in the robotics market, particularly in applications like smart factories. The pandemic has even attracted highly skilled experts to the robotics industry, further bolstering its technological capabilities.
Twinny believes that to maintain competitiveness globally, Korea must harness its indigenous technological strengths. The company aims to focus on nurturing its own technological capabilities rather than relying on large conglomerates. Despite arguments that large Korean conglomerates are becoming too extensive and diversified, Twinny sees them as providing a strong foundation for growth.
In terms of future automation and robotic growth, Twinny sees potential in sectors such as logistics, particularly in plants, logistics centers, and the last mile of delivery. The company also indicates a need for more user-friendly robotics and automation to facilitate broader adoption among small and medium-sized enterprises.
Twinny believes in the importance of collaboration and partnerships to ensure competitiveness and survival in the global arena. The company has also formulated guidelines for the seamless integration of its software with diverse hardware specifications, a crucial step in entering the global market.
When it comes to targeting the global market, Twinny’s strategy focuses on the U.S. and Europe due to high labor costs and mature industries. However, the company proceeds cautiously in China due to regulatory landscape concerns, and in Japan due to its conservative approach to embracing pioneering technologies.
Twinny’s co-founder, who holds a different academic background from his twin brother, emphasizes the importance of a people-centric approach in the company’s ethos. As co-heads of the company, they strive to create an organizational culture that attracts and retains highly talented individuals.
Overall, Twinny’s insights shed light on the challenges and potential of Korean tech SMEs, as well as the company’s strategic approach to cultivating technological strengths and pursuing global competitiveness.
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