[Liberaware Co., Ltd.] Notice regarding establishment of overseas subsidiary *Liberaware Co., Ltd.*
Press release: September 13, 2024
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Notice regarding establishment of overseas subsidiary
*We would like to inform you that our company has resolved to establish a subsidiary in South Korea at the board of directors meeting held today. *
*Reason for establishing subsidiary*
Based on our vision of “visualizing invisible risks,” we process video information of infrastructure facilities and equipment taken by drones, robots, etc. into data that contributes to improving safety and productivity for our customers. We are developing solutions that we provide.
Currently, aging infrastructure is an urgent social issue both domestically and internationally, and the trend toward DX is strong worldwide, requiring a transformation from analog to digital methods. Therefore, by solving problems and advancing DX through the solutions we provide, we will strengthen the industrial competitiveness of domestic and overseas companies, and in turn, realize our mission of “creating a safe society for everyone.” We believe that this will lead to.
Under these circumstances, we have been in talks with local companies and government agencies to expand our solutions to Asian countries, including South Korea, with an eye on accelerating our global expansion, starting with Asia. We have decided to establish a subsidiary in South Korea.
South Korea has an industrial base centered on manufacturing, similar to Japan, and industrialization is progressing at an early stage, resulting in aging social infrastructure. Among infrastructure facilities such as railways, roads, electricity, gas, and sewage, 51.2% of all facilities are more than 20 years old after construction, and 25.2% are more than 30 years old (* 1), it is predicted that aging will continue to progress. In addition, the decline in the working population has become a major social problem in South Korea, and due to the declining birthrate, the working-age population is expected to decrease by more than 13 million people in about 30 years, from 37.63 million in 2019 to 24.19 million in 2050. (*2) In addition, with the enforcement of the Act on Punishment of Serious Disasters on January 27, 2022, South Korea is becoming more aware of safety.
Against the background of the above-mentioned legal developments and serious social issues, we confirmed the need for our solutions in many companies and government offices in South Korea, and also conducted demonstration experiments and developed IBIS, the predecessor of IBIS2. We have achieved sales results of
With the establishment of this subsidiary, we will leverage the success stories and know-how in Japan to provide DX solutions that utilize the narrow space inspection drone “IBIS2” and 3D data, thereby creating an indoor drone market and expanding into the DX market in the Korean market. We will continue to promote the penetration of our image analysis technology.
source:
*1 South Korean Ministry of Land, Infrastructure, Transport and Tourism press material “Establishment of standard management system for 15 types of infrastructure facilities such as roads and railways, ‘Adding safety to people’s daily lives’”
*2Korean Ministry of Employment and Labor “Elderly Employment Policy Basic Plan Infographic”
*Overview of the subsidiary to be established*
(1) Name Liberaware Korea Co., Ltd.
(2) Location: Seoul (details to be determined)
(3) Name of representative Kim Tae-hwan (tentative)
(4) Business details Drone sales/rental, inspection solutions, Data processing/analysis services, solution development, etc. (5) Capital 50 million yen (equivalent to 470 million won) (planned) (6) Date of establishment: November 1, 2024 (planned)
(7) Investment ratio: 100% by our company