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<\/p>\nNC& is a South Korean (publicly traded on the KOSDAQ) manufacturer of imaging modules and dash cams that develops and produces automotive video-processing systems. Pulse 2.0 interviewed NC& Jonghyun Choi to gain a deeper understanding of the company.<\/p>\n
Jonghyun Choi\u2019s Background<\/b><\/p>\n
<\/p>\n
Could you tell me more about your background? Choi said:<\/p>\n
\u201cMy professional journey in the financial sector began at an asset management company, where I gained valuable experience in managing an NPL (Non Performing Loan). Since then, I have been actively involved in financial services, financing, and listing consulting for startups and mid-sized companies aiming to be listed on the Korea Exchange Market. Over the years, I have provided strategic consulting to help companies develop growth strategies and secure the necessary funding to support their expansion.\u201d<\/p>\n
\u201cI joined the company in its eighth year of establishment and served as the Chief Financial Officer before assuming my current role as Chief Executive Officer. As CEO, I am responsible for the overall management of the company. In recent years, I have placed particular emphasis on driving sustainable growth by identifying new growth engines, redefining the company\u2019s business strategy, and developing execution plans to ensure effective implementation.\u201d<\/p>\n
Favorite Memory<\/b><\/p>\n
What has been your favorite memory working for the company so far? Choi reflected:<\/p>\n
\u201cAs part of our growth strategy, new teams are formed and new employees join the company. Collaborating with these new teams and individuals to think about the future of the company and explore new ideas has been an incredibly rewarding experience.\u201d<\/p>\n
\u201cOf course, not every attempt leads to the expected outcome. However, I believe that both teams and individuals grow through the process itself. Witnessing that growth firsthand brings me great joy. I also find great fulfillment in sharing my life experiences with employees who are deeply engaged in their personal growth, and in supporting them throughout their journey. Being part of their development has been one of the most rewarding aspects of my role.\u201d<\/p>\n
Core Products<\/b><\/p>\n
What are the company\u2019s core products and features? Choi explained:<\/p>\n
\u201cWe currently operate two main product lines. One is the car DVR product line, commonly known as dashcams, and the other is the ADAS (Advanced Driver Assistance System) camera product line for commercial vehicles.\u201d<\/p>\n
\u201cFor nearly 30 years, NC& has focused on developing and specializing in video processing technologies. We possess proprietary technology in Image Signal Processing (ISP), which converts raw data from image sensors into visuals that closely resemble human vision or are optimized for specific needs.\u201d<\/p>\n
\u201cBeyond that, we have expertise in efficient transmission technology known as AHD (Analog HD Transmission), and video encoding and storing technologies known as TFF (Three Free File System), as well as AI recognition technologies to apply to processed images. In short, we hold essential core technologies in camera systems.\u201d<\/p>\n
\u201cLeveraging these capabilities, we develop and produce camera products for automotive aftermarket applications. Both our dashcam and ADAS camera product lines are built with outstanding image quality and reliability at their foundation, and we strive to deliver optimal performance tailored to each application.\u201d<\/p>\n
\u201cOur dashcams are like fire extinguishers \u2014 essential devices installed to prepare for unforeseen situations. They offer top-tier image quality and a proprietary file system that ensures reliable video storage.\u201d<\/p>\n
\u201cAdditionally, we provide an AI-based feature via our app and PC viewer that can reconstruct unreadable license plates due to environmental factors, adding a unique advantage to the core function of a dashcam.\u201d<\/p>\n
\u201cOur ADAS camera lineup, represented by the \u2018Corner Vision\u2019 system, helps minimize blind spots for large commercial vehicles during turns. This system uses a single camera to capture both front and side views of the vehicle and notifies the driver of nearby pedestrians, bicycles, or vehicles via a monitor. The product is equipped with specialized AI functions tailored to cameras with a 205\u00b0 field of view and a top-down angle, effectively covering blind spots where accidents frequently occur.\u201d<\/p>\n
Challenges Faced<\/b><\/p>\n
Have you faced any challenges in your sector of work recently? Choi acknowledged:<\/p>\n
\u201cAll companies face various challenges, both big and small, and grow through overcoming them. While it may not be considered a difficulty per se, the continuous expansion and transformation of our business model over the past three decades have posed numerous challenges. These challenges ultimately became opportunities for growth and have laid the foundation for our current capabilities.\u201d<\/p>\n
\u201cThe key to overcoming them was our relentless effort to stay ahead of technology trends and internalize them. We believe that it was the collective effort of all our members that made this possible.\u201d<\/p>\n
Evolution Of The Company\u2019s Technology<\/b><\/p>\n
How has the company\u2019s technology evolved since launching? Choi noted:<\/p>\n
\u201cAs mentioned, since our founding in 1997, we have focused on developing various technologies for processing video from camera sensors, such as ISP (Image Signal Processing) and AHD (Analog HD Transmission). Through semiconductor development for ISP and AHD, we made videos to be processed in a way that aligns with human visual perception and transmit them efficiently across various applications.\u201d<\/p>\n
\u201cBased on this core technology, we expanded into the camera module business, including dashcams. This includes not only reliable video storage and management technologies required for dashcams, but also user-friendly software, such as mobile apps and AI algorithms for advanced ADAS camera systems used in commercial vehicles.\u201d<\/p>\n
\u201cWhile many talk about AI, we focus on how to provide real value to customers through it \u2014 identifying the reasons our customers need AI and addressing their pain points through technological advancement.\u201d<\/p>\n
\u201cThis mindset has continuously driven our technical development.\u201d<\/p>\n
Significant Milestones<\/b><\/p>\n
What have been some of the company\u2019s most significant milestones? Choi cited:<\/p>\n
\u201cI believe the current moment\u2014when we have begun developing and selling products targeting overseas markets\u2014marks a key turning point. In the short term, the most important milestone is expanding dashcam sales in the overseas market, including U.S., and increasing our market share.\u201d<\/p>\n
\u201cTo achieve this, we are working on increasing brand awareness of VUEROID and expanding our sales channels. Although we have received positive feedback on our technology from various channels, the overseas dashcam market, like the U.S, is still emerging. However, we\u2019re seeing growing interest in dashcams due to increasing concerns around insurance and vehicle theft.\u201d<\/p>\n
\u201cHaving already proven our capabilities in the advanced Korean market, NC& and VUEROID are now aiming to lead global dashcam adoption and promote a safer driving experience.\u201d<\/p>\n
Customer Success Stories<\/b><\/p>\n
Can you share any specific customer success stories? Choi highlighted:<\/p>\n
\u201cNC& develops and supplies dashcams to numerous companies across Korea and Japan. In the highly competitive Korean market where over 90% of vehicles are equipped with dashcams, VUEROID has\u00a0 achieved the top position in domestic production volume thanks to continuous technical development and reliability improvements.\u201d<\/p>\n
\u201cIn addition to the success of our dashcam products, our recently launched commercial vehicle safety system, \u2018Corner Vision,\u2019 has been adopted by a major Korean retail company. After installation, right-turn accident rates decreased by 50%, and the total number of incidents dropped by 57%, clearly demonstrating its effectiveness.\u201d<\/p>\n
Total Addressable Market<\/b><\/p>\n
What total addressable market (TAM) size is the company pursuing? Choi assessed:<\/p>\n
\u201cThe dashcam market varies significantly by country in terms of maturity and size, and distribution channels also differ greatly. As such, it is difficult to find comprehensive or consistent data.\u201d<\/p>\n
\u201cHowever, some research agencies estimate the current TAM for dashcams to be around $2 billion to $2.5 billion USD, with a CAGR of approximately 8% to 12%. This estimate reflects the global market, and we are actively working to expand our SAM (Serviceable Available Market). While the U.S. remains our primary target, we are also exploring opportunities in other markets.\u201d<\/p>\n
Differentiation From The Competition<\/b><\/p>\n
What differentiates the company from its competition? Choi affirmed:<\/p>\n
\u201cAs explained above, we possess core proprietary technologies based on image processing. In particular, our strength lies in ISP (Image Signal Processing). When it comes to camera image quality, several factors play a role: the lens, image sensor, ISP, SoC, and transmission technology. While components, like lenses, sensors, and SoCs, are often limited by cost and supplier availability, the ISP offers significant room for differentiation. Our current ISP framework includes 18 distinct categories, each of which can produce over 700,000 unique image variations on its own.\u201d<\/p>\n
\u201cAs a company with proprietary ISP technology, NC& has deep expertise in every pipeline stage of ISP and a profound understanding of the relationships between categories, enabling us to deliver the best image quality to our customers.\u201d<\/p>\n
Future Company Goals<\/b><\/p>\n
What are some of the company\u2019s future goals? Choi concluded:<\/p>\n
\u201cIn the short term, our goal is to position VUEROID as a leading dashcam brand in overseas markets. We believe there is significant growth potential globally, though preferred product types and distribution methods vary by region. To meet these needs, we are strengthening internal sales teams and diversifying our product lineup.\u201d<\/p>\n
\u201cIn the long term, the core values of dashcams \u2014 driver safety and protection \u2014 will serve as the foundation of the entire VUEROID product line.\u201d<\/p>\n
\u201cWe plan to leverage these values to provide various applications and services beyond hardware alone.\u201d<\/p>\n
\u00a0<\/p>\n
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