Empowering a New Era in Manufacturing with Advanced Technologies!
The manufacturing industry has always been a cornerstone of progress, constantly growing with historical reforms and technological advancements. Yet, amidst this growth, LEE CHOONJAE saw a gap; large corporations often struggled to adapt quickly to the changing demands of the market. Inspired by the need for agile and innovative solutions, he decided to take a leap of faith and founded TEIA Co., Ltd.
Starting with just 5-6 like-minded individuals, Lee and his team worked tirelessly to create a company that would not only survive but thrive in an evolving market. From day one, their capabilities and technologies were recognized, enabling TEIA to achieve a remarkable $1.5 million in turnover in its very first year.
What set TEIA apart from its competitors was its ability to think outside the box. Lee and his team leveraged creative strategies to secure government support, which played a crucial role in their early success. Through careful planning and collaboration on various government projects, they developed and commercialized several groundbreaking products.
As the CEO of TEIA Co., Ltd., Lee’s leadership has been integral to the company’s growth. His passion to innovation, efficiency, and agility has helped the company stay ahead of the curve in an increasingly competitive manufacturing domain. Under his guidance, TEIA continues to create solutions that not only meet but exceed the needs of its clients, setting new standards for the industry.
Let’s know more about its journey:
The Vision of TEIA Co., Ltd
LEE CHOONJAE, the CEO of TEIA Co., Ltd., is a prominent figure in South Korea’s rapidly evolving industrial landscape. With over 20 years of expertise in manufacturing technology, particularly in IT and Operational Technology (OT), he founded TEIA to spearhead innovation in this sector. The company emerged as a response to the profound transformations brought about by the Fourth Industrial Revolution, where technologies such as automation, artificial intelligence, and digital twins are reshaping the manufacturing industry.
It is committed to advancing essential IT and OT technologies that facilitate the smartization of factories. This includes the development of automation equipment, Internet of Things (IoT) devices, and software platforms that enable real-time data acquisition. By integrating these cutting-edge technologies, it aims to enhance operational efficiency and drive the digital transformation of manufacturing processes.
His motivation stems from a desire to lead in this new era of industrial innovation, where the convergence of IT and OT is critical. Through its solutions, he envisions unlocking diverse business opportunities and contributing significantly to the modernization of South Korea’s manufacturing sector.
A Competitive Edge in Smart Manufacturing
TEIA Co., Ltd. distinguishes itself in the smart manufacturing sector through its specialized focus on Operational Technology (OT). The company excels in enhancing factory smartization by providing comprehensive convergence consulting, which adds significant value for clients. By deeply understanding the OT environment and processes, it delivers tailored solutions that meet specific needs.
Additionally, its technical expertise allows for the development of IoT device hardware that facilitates on-site information mediation using advanced IT technologies such as wireless communication and AI. Their OT platform software integrates seamlessly with this hardware, enabling efficient data consolidation and supporting digital twin creation.
As the trend of Software Defined Everything (SDx) technology emerges, it is committed to accelerating the development of solutions that incorporate integrated factory controllers and AI-based edge computing, with plans to launch innovative offerings by 2025.
Commitment to Sustainability
TEIA Co., Ltd. demonstrates its commitment to sustainability through various initiatives aimed at reducing environmental impact. The company promotes a paperless office environment, minimizes plastic usage, and encourages employees to use reusable mugs, all of which are set as key performance indicators to foster participation.
Additionally, it supports work-life balance by implementing a 4.5-day workweek and offering flexible working hours. The organization prioritizes employee well-being by providing training focused on industrial accident prevention and a range of welfare benefits. These efforts not only enhance employee satisfaction but also reflect its dedication to social responsibility and environmental stewardship.
Nurturing Innovation
TEIA Co., Ltd. cultivates a culture of innovation through annual one-on-one meetings held by the CEO with every employee, ensuring open communication and valuable feedback. These discussions help shape the company’s welfare initiatives and improvement activities, enhancing overall employee satisfaction.
To strengthen team cohesion, it organizes various activities, including workshops, sports events, and evening gatherings, fostering a collaborative environment. Recently, the company hosted an AI competition focused on business innovation, encouraging employees to contribute diverse ideas. This initiative not only promotes creativity but also recognizes employee efforts through awards, reinforcing its commitment to innovation and engagement in the workplace.
Measuring Success
TEIA Co., Ltd. employs a comprehensive approach to measure the success of its products and services in meeting customer needs. When securing a project, the company emphasizes three key factors: schedule adherence, quality, and customer satisfaction. Meeting the agreed-upon schedule is crucial; if changes arise, the CEO leads internal discussions to address issues and maintain open communication with clients.
Quality is paramount, particularly in Operational Technology (OT) projects, where anticipating on-site challenges is essential. It utilizes scenario-based models that standardize processes, ensuring consistent quality across projects.
Each department, alongside the quality control team, monitors project issues closely to address problems early, minimizing disruptions. This proactive approach helps maintain schedules and enhances overall customer satisfaction, reflecting its commitment to delivering high-quality solutions tailored to client requirements while fostering long-term relationships based on trust and reliability.
Community Engagement in Technological Education
TEIA Co., Ltd. actively engages with the local community to promote technological education and development by building strong networks with companies that possess diverse technologies. These collaborations facilitate various convergence technology development projects, supported by government assistance, to meet customer demands effectively.
It also emphasizes technology acquisition and collaboration through programs that support capable young individuals while assisting experienced older generations. By leveraging various infrastructures, the company fosters an environment where knowledge sharing and skill development thrive, ensuring that both youth and seasoned professionals can contribute to and benefit from advancements in technology within the community.
Overcoming Challenges in Technology Implementation
TEIA Co., Ltd. faced significant challenges when developing and launching IoT device hardware, as the company initially focused on software and integration services. To address the growing demand for IoT devices, it undertook a comprehensive organizational restructuring, supported by government programs, internal investments, and talent acquisition.
The CEO and key decision-makers played a crucial role in setting clear goals and overseeing the transition. They secured funding, deployed technical experts, and established efficient internal processes to ensure quality management. This experience highlighted the importance of strong leadership in navigating technological shifts, ultimately enabling it to successfully implement new technologies while maintaining high standards and meeting customer expectations.
Research and Development Management
TEIA Co., Ltd. prioritizes its Research and Development (R&D) initiatives by structuring the department directly under the CEO, which ensures effective communication and swift decision-making. The primary objective of the R&D team is to launch high-quality products that meet customer needs promptly.
Weekly product development meetings involve executives and managers, including the CEO, to identify customer requirements and set development priorities collaboratively. Additionally, the R&D department creates a technology development roadmap aligned with the company’s vision. Internal workshops promote cooperation across departments, ensuring early focus on product quality and fostering an innovative environment that enhances collaboration and idea exchange.
Customer Feedback and Market Research
At TEIA Co., Ltd., customer feedback and market research are integral to the product development process. The company prioritizes incorporating customer insights and desired technologies into its offerings. It actively explores new technologies by conducting technical seminars and collaborating with innovative companies, aiming to enhance customer satisfaction.
This collaborative approach allows customers to engage directly with it, applying solutions in real time and creating a continuous feedback loop that drives effective outcomes. The R&D department plays a vital role by introducing feasible technologies, brainstorming solutions, and integrating them into the development cycle, ensuring that products align with market needs and expectations.
Equipping Workforce for Technological Adaptation
TEIA Co., Ltd. ensures its workforce is equipped to adapt to rapidly changing technology trends through a comprehensive technological filtering process. This process, led by the R&D department, the CTO group, and the sales team, evaluates emerging technologies for their feasibility and relevance to customer needs. If a technology is deemed valuable yet challenging to implement, it may choose to collaborate with external experts instead of internalizing it.
To further enhance skills, the company organizes technology seminars and encourages employees to submit proposals on new technologies. This initiative fosters an environment of exploration and innovation, allowing employees to share insights and stay updated on industry advancements.
By prioritizing effective communication and collaboration, it empowers its workforce to embrace change and drive the company’s technological growth, ensuring that they remain competitive in a fast-evolving landscape.
Collaborative Innovation Approach
TEIA Co., Ltd. acknowledges collaboration with other companies and institutions to drive innovation effectively. Recognizing that developing all technologies in-house is impractical, it focuses on core products while expanding into areas of expertise.
To meet diverse customer requirements, the company builds strong networks with organizations possessing complementary technologies. These connections are established through customer interactions, government partnerships, external seminars, and conferences.
By nurturing these collaborations with companies, institutions, and universities, it fosters both human and technical cooperation. This strategic approach not only enhances innovation but also ensures that it remains responsive to market demands and capable of delivering integrated solutions that meet customer needs effectively.
Diversity and Inclusion in Hiring Practices
TEIA Co., Ltd. prioritizes diversity and inclusion in its hiring practices by seeking candidates who align with the company’s goals and possess strong communication skills. The recruitment process consists of three interview rounds followed by a three-month internship, allowing both the company and candidates to evaluate mutual fit.
To ensure employee satisfaction, it conducts annual job satisfaction surveys, which may lead to job changes based on feedback. One-on-one meetings facilitate open communication, aligning roles with individual strengths. The company is committed to respecting and embracing diversity, fostering an inclusive workplace culture that values each employee’s unique contributions and perspectives.
Influence of Future Vision on Operations
TEIA Co., Ltd. develops its future vision collaboratively with employees, ensuring clear communication of strategic direction. This inclusive approach enables the company to adapt its operations and optimize its organizational structure annually.
By focusing on talent acquisition that aligns with the company’s vision, it invests in employee education and development, nurturing them into key resources for the organization. This alignment between individual growth and corporate goals fosters a dynamic environment where employees can thrive. As a result, its operational strategies and business decisions are consistently informed by its vision for the future, driving innovation and enhancing overall performance.
