SEOUL, SOUTH KOREA, Nov. 01, 2018 (GLOBE NEWSWIRE) -- eMARINE Global Inc. (OTC: EMRN), a leading provider of information and communications technology for the maritime industry, is pleased to announce an exclusive partnership agreement with SAAB Technologies B.V. to distribute their maritime solutions in the Korean market.
“SAAB is one of the most successful defense companies globally, with operations spanning air, land, and sea technologies,” stated Ung Gyu Kim, Chairman and CEO of eMARINE Global. “As part of their continued global expansion, we are pleased to be the exclusive distributor of their maritime technologies in Korea and believe we can see similar dramatic success as recently demonstrated when SAAB entered the Chinese maritime market.”
As part of the agreement, SAAB's vessel traffic management solutions will be integrated into eMARINE Global’s total-maritime system package, enhancing its capabilities to respond to a broad range of safety and security requirements.
Demands for vessel traffic management systems from the public and private sectors in Korea, for new and replacement installations, are projected at $100 million (USD) over the next five years.
“Our partnership with SAAB strengthens our position to take a leading role in responding to strong market demands,” continued Ung Gyu Kim. “We look forward to playing an increasing vital role in the maritime industries ongoing technological transformation.”
Longer-term, the companies intend to collaborate on the development of innovative OEM product solutions, providing additional enhancement opportunities for eMARINE Global’s smart ship system.
Founded in 2001 and based in South Korea, eMARINE Global is working with a growing base of marquee customers to achieve maritime ICT convergence through fully integrated products and services, offering state-of-the-art e-navigation, marine Internet of Things (IoT), and marine big data solutions, primarily in Korea with near-term expansion into U.S. and Chinese markets.
eMARINE Global’s customer base includes Hyundai Heavy Industries (HHI), Samsung Heavy Industries, and the Korea Coast Guard.
HHI recently laid the keel for an 84,000 cubic meter LPG carrier with integrated smart ship solutions at its shipyards in Ulsan, Korea, reported to be the solution’s first real-world application.
About eMARINE Global Inc.
eMARINE is a provider of information and communications technology in the maritime industry. Specifically, eMARINE provides solutions for collection, integration and display of maritime information abroad and ashore by electronic means to enhance berth to berth navigation and related services. These solutions provide the most efficient means to secure the safety of life at sea and to protect the marine environment. All products and services are offered through subscription, installation, updates and/or maintenance contracts.
Forward-Looking Statements
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These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any anticipated results, performance, or achievements. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise.
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