As Millesistech continues to launch a succession of high-quality new products backed by solid technological capabilities, the company is actively pioneering overseas digital door lock markets by serving as the spearhead of the e-lock business being driven by the global security company Allegion.
To break into overseas digital door lock markets, two key challenges must first be addressed: meeting the door specifications and safety regulations that differ from country to country, and securing local export sales and distribution networks. Product design competitiveness, quality, and marketing are also important, but these two issues must be overcome first. It is for this reason that Allegion entrusted Millesistech with the role of spearheading its global e-lock business.
Since 2015, Millesistech has concentrated its resources on building up its product lineup, developing a range of new products and launching them in both domestic and overseas markets, with a strong focus on diversifying its product portfolio. In particular, last year the company developed products dedicated to the Chinese market and to the Japanese market. The China-only product was the first that Allegion commissioned Millesistech to develop, and in order to create a product with the specifications and design that Chinese consumers demand, Millesistech's key development staff took part in various security exhibitions held in China and personally visited the local market to conduct thorough market research. Through this process, they discussed and checked every single detail—from the product's design to its materials, texture, colors, and functions—one by one with the local staff in China as development progressed.
Through the development of this China-only product, Millesistech had its world-class product development capabilities verified by Allegion. Allegion's major corporate entities around the world are now commissioning Millesistech to develop digital door lock products for sale in their respective countries.
Millesistech's strength lies in its outstanding technological prowess. The company holds numerous patents covering the core technologies of digital door locks, and the know-how accumulated over many years is regarded as unrivaled. This unparalleled technological capability is the result of focusing solely on the single field of digital door locks since the company's founding in 1991. In addition, the company boasts veteran research personnel with many years of experience in the digital door lock field.
The Millesistech R&D Institute is staffed with personnel possessing top-tier expertise in areas such as mechanisms, circuits, and product design, enabling the company to handle everything in-house—from digital door lock product design and mechanism design to PCB (printed circuit board) design and firmware programming. Furthermore, Millesistech has newly organized a Synergy Team dedicated to overseas products, forming the team by adding newly recruited research personnel to its existing core research staff. Going forward, the Synergy Team plans to prioritize the research and development of overseas local products and is expected to serve as the global forward base for Allegion's e-lock business. Beyond this, Millesistech continues to invest and make efforts to enhance product quality, recently replacing various reliability testing instruments with new equipment to improve the quality and performance of its products.
Over the past three years, Millesistech has achieved substantial growth both externally and internally. By successfully carrying out a series of overseas-dedicated product development projects, the company has proven its own competitiveness and demonstrated its potential for success in overseas markets.
A major reason Millesistech was able to grow so much in such a short period was the significant role played by CEO Jeon Jong-guk, who has led the company as a professional manager since 2015. With a management style that values competence and trust, CEO Jeon introduced a flexible and adaptable work system and maximized employees' autonomy and creativity, thereby boosting workplace satisfaction and improving operational efficiency across the organization.
Sales have also been rising steadily every year. After showing a continuous decline before 2015, sales have grown by an annual average of more than 11% since CEO Jeon took charge in 2015, and in 2017 the company recorded its highest sales ever since its founding.
What is particularly noteworthy is overseas sales revenue. Centered on the Greater China markets of China, Hong Kong, and Taiwan, as well as Southeast Asian markets including Japan, Vietnam, Malaysia, and Thailand, sales have been drawing a sharply rising curve each year.
Thanks to these tangible results, Millesistech won the ‘One Million Dollar Export Tower’ in 2016 followed by the ‘Three Million Dollar Export Tower’ in 2017 at the ‘Trade Day’ event hosted by the Korea International Trade Association and sponsored by the Ministry of Trade, Industry and Energy, and it is expected to comfortably win the ‘Five Million Dollar Export Tower’ this year as well.
CEO Jeon Jong-guk stated, “When Millesistech's strength in development capabilities is combined with Allegion's global overseas sales network, we expect it to generate boundless synergy,” adding, “We will spare no effort in R&D investment and support to develop highly competitive products that hold their own even in overseas markets.” He went on to say, “Going forward, Millesistech aims to use the Allegion Group as a springboard to grow into the world's leading specialist in digital door locks on the global stage.” 032-623-0341