As the year comes to a close, Hyosung Corporation has been busy making major moves that will continue to fuel its growth.
For starters, Hyosung America this month moved its headquarters to new offices in Las Colinas, leasing 25,087 square feet of space on the tenth floor and 6,279 square feet on the third floor of the Mandalay Tower II. Because of its expansion, Hyosung America plans to keep its current location in Irving, but accommodate 140 employees in the new one.
In total, Hyosung America employs more than 1,000.
Hyosung America is the North American division of Hyosung TNS, which manufactures automated tell machines. Hyosung America is responsible for all North American sales and distribution, providing service and technical support and a distribution center out of North Texas.
Additional sales offices are located in Columbus, Charlotte, Toronto, and Mexico City, with a Global Software Center in Dayton dedicated to software solution development.
With CEO Hee-Eun Ahn at the helm, Hyosung America prides itself as being a leader in the ATM self-service solutions marketplace. Operating in both the financial services and retail industries, the provides state-of-the-art hardware and software to its banking customers, allowing them to streamline traditionally labor-intensive tasks.
The team has already partnered with four of the top five banks in the country, and has more than 75 percent of the retail ATM market share.
The tech is based on self-service and assisted-service capabilities, along with the optimization of cash management. Hyosung America told Dallas Innovates that it’s the only ATM manufacturer providing “true recycling solutions,” which includes TCRs (Teller Cash Recyclers), and that it has the most ATM installations in the U.S. That equates to more than 170,000 deployed.
“Hyosung is investing heavily in both professional services and managed services as we expand the solution set we provide to our customers,” the company told us. “We are seeing an increased interest from financial institutions that want to purchase ATMs as a service rather than investing a significant amount of capital and resources to own and fully manage an ATM network themselves. We have built out a complete toolset that manages software distribution, provides remote problem resolution, and monitors the health and performance of the devices on the network.”
According to the company, North America is a key strategic market for that toolset.
The ATM manufacturer plans to continue investing in its fast growth, while focusing on ensuring that its product is relevant for today’s market, and beyond.
The Hyosung America team said they are continuously looking for new ways to provide more secure, relevant authentication and interaction modes for their customers to interact with banks.
“Branch transformation is not a new concept, and banks have or are already changing their environment to meet the needs of their customers. COVID-19 just accelerated those changes,” they said. “One thing we are specifically targeting is continuing to create ways to be better at bridging the digital and physical banking experiences in order to help financial institutions drive a holistic and cohesive experience for their customers and enabling financial institutions to provide physical fulfillment to their customers in an efficient and effective manner.”
Also contributing to Hyosung America’s development is its parent company, Hyosung TNS, recently announcing its intention to launch an initial public offering on the Korean stock exchange.
According to Hyosung TNS, the IPO will play a key role in the growth strategy of Hyosung Corporation, which includes Hyosung America. The company hopes the IPO will increase global brand recognition, expand R&D investments for technology innovation, and fuel global expansion.
Hyosung, with its 30,000 employees worldwide, is a multi-billion dollar holding company based out of South Korea. The conglomerate is the majority owner of Hyosung TNS.
The IPO’s timing, size, and structure has not yet been finalized.
Get on the list.
Dallas Innovates, every day.
Sign up to keep your eye on what’s new and next in Dallas-Fort Worth, every day.