News & Info

Published on Mar. 4th, 2024 by the bell 

This article covers Contromax's collaboration with Israel Aerospace Industries (IAI) on an R&D project to enhance actuator technology. The company is set to receive around $26 million in R&D funding and aims to develop breakthrough technologies, including AI-driven smart actuators capable of predicting failures. Contromax, established in 2014 by Huh Deok-joo, specializes in electric actuators for aviation, drones, and robotics. The company has been recognized for its innovation and plans to expand globally, with a focus on markets in Europe, the US, UAE, and Turkey. By 2025, Contromax targets revenue of 15 billion KRW and an operating profit margin of 25%.

Read the full article (Korean)