August 1, 2021

Founded in 2006 with just three people—a father, a son, and one employee—Marineworks has grown into a strong mid-sized company with 80 employees in just 15 years.

The company successfully localized Korea’s electronic chart display and information system (ECDIS), a market once dominated by Japan, and has supplied over 550 units to major clients such as HMM and Hyundai Heavy Industries.

More recently, Marineworks became the first Korean company to join the ‘IoS-OP’ consortium, a ship IoT data-sharing platform operated by ShipDC, an organization established with investment from the Japanese classification society.

In recent years, even professionals from major corporations such as Daewoo Shipbuilding and Hanjin Shipping have relocated to join the company in Busan.
What drove this remarkable growth at Marineworks?

From Humble Beginnings to Rapid Growth

After completing his military service, CEO Yongdae Kim found that his family’s financial situation had deteriorated to the point where returning to university was no longer possible. He left school and joined his father’s factory in 2005, where he began his journey in the marine electronics industry.

His father, who founded a marine navigation equipment company in 1985, had spent years developing core technologies—including ECDIS, often compared to a ship’s navigation system.

In the early days, the company faced numerous challenges, including difficulties in hiring talent and gaining trust from large corporations. However, through continuous R&D and recruitment of skilled professionals, Marineworks gradually built its capabilities.

Breaking Through the Market

Determined to transform the industry, the company focused on solving one of the biggest issues in maritime operations—human error, which accounts for approximately 85% of ship accidents.

Marineworks proposed a new concept: enabling real-time communication between ships and onshore control centers to support remote monitoring and control.

This vision materialized when the company successfully deployed its smart ship solution, ‘My Fleet’, across 20 vessels operated by HMM.

Built on a secure integrated network, My Fleet enables real-time data collection, storage, visualization, and transmission—forming a comprehensive remote support system.

Following this success, Marineworks expanded its partnerships to major shipbuilders including Daewoo Shipbuilding and Samsung Heavy Industries, achieving what industry insiders described as a “miracle.”

Leading the Digital Transformation of Maritime Industry

As the maritime industry shifts toward digitalization, Marineworks is gaining attention as a key player in ship ICT technologies.

The company has partnered with Japan’s global weather information provider Weathernews to integrate real-time weather data into its ECDIS platform.

Marineworks is also the only company in the world to possess all four types of autonomous navigation systems (Autopilot Track Control Systems), further strengthening its global competitiveness.

With overseas branches in China and Russia, the company has already secured multiple international contracts, demonstrating strong potential for global expansion.

Vision for the Future

Looking ahead, Marineworks aims to go beyond smart ship solutions and become an “Uber of the maritime industry.”

CEO Kim emphasizes continuous innovation and independence, striving not as a subcontractor to major corporations, but as a true competitor.

He also shares a unique vision:
to donate 90% of the company’s profits—30% to employees, 30% to children, and 30% to individuals he respects.

“Just thinking about it makes me happy.”

 

Original Article: https://n.news.naver.com/article/082/0001110715

Source: Busan Ilbo (Lee Hyun-jung)