Set-top box developer Humax has become the first of Korea’s so-called first-generation venture companies to post W1 trillion in sales. A Euro is worth 1,524.26 Korean Won.
Korean daily The Chosunilbo quoted Humax CEO Byun Dae-gyu as saying the company achieved sales of W285 billion in the fourth quarter last year, leading to annual revenues of W1.005 trillion.
Humax was founded in 1990, one of a number of the first generation venture companies that emerged in the 1990s, and prospered under economic legislation brought in by the government later in the decade.
The company supplies set-top boxes into satellite and cable markets including the UK’s Freesat, Italy’s Tivùsat and Germany’s Kabel Deutschland. Its DTT product gives German viewers access to HbbTV services while Freeview homes in the UK enjoy connectivity to the BBC iPlayer.