- Producer of automotive parts such as low-frequency antennas and wiring harnesses

- Sales growth of 380% over 10 years… Attempt to enter the electric vehicle market

- "Keep expanding the business without settling."

Vision Digitech, located in Nam-gu, Daegu, is an automotive parts company that mainly produces low-frequency antennas and wiring harnesses for automobiles. This company has been making notable achievements, recording a sales growth rate of 380% over the past 10 years from 2012 to the present. Last year, it was selected as a ‘Freestar Company’ by Daegu City.

Vision Digitech CEO Jeong Deuk Lee, who took her first step into the automotive parts industry in 1988, is an entrepreneur who is pioneering her own field based on her unique vision and leadership. Having secured a patent for low-frequency antennas in 2016 and succeeded in localization, she is now looking for a new growth engine in the electric vehicle market. In 2020, she received the Minister of Gender Equality and Family Award on ‘Women Entrepreneurs’ Day’ in recognition of her achievements.

The following is questions and answers.

-Please explain Vision Digitech’s business areas.

▶ Founded in 2008, the company initially focused on the production of antenna cables, but then expanded its area into wiring harnesses and low-frequency antennas for automobiles.

A wiring harness, which is similar to the human body's neural network, is a component that ties together the wires that connect various electrical and electronic devices in a car. It is mainly used in Daedong's agricultural machines. A low-frequency antenna, which is a key component of the automotive smart key system, is built into the door handle or trunk to transmit and receive control system signals such as opening and closing the car door or starting the car. In 2016, a related patent was issued, and localization was successful. This product is applied to most models released by KG Mobility.

 

- I heard you recently have been looking for opportunities to enter the electric vehicle market

▶The automotive industry is rapidly being reorganized around electric vehicles. We are also preparing for the future. From 2016 to 2019, we conducted joint research with Daedong to develop 1-ton commercial electric vehicles. At that time, we worked together on the design and production of high-voltage wiring harnesses for electric vehicles. We also conducted three related studies. The harness used in electric vehicles has much thicker wires than that of existing products and requires stability. Although not yet in the commercialization stage, we plan to secure related technology as soon as possible as we have our own design capabilities.

 

-I think you need to improve your constitution to jump into a new field.

▶In order to integrate into the electric vehicle ecosystem, it is necessary to have an optimal production system. To this end, the internal organization must first be reorganized. In short, communication between the product design team and the production team must be smoother. In addition, technology transfer through research institutes and universities and new production facilities will be necessary. For this purpose, a factory with the ability to produce electric vehicle-related products is being built in the Seongseo Industrial Complex. With an area of 6,600 ㎡, it is scheduled to be operated as early as June of this year.

 

-Sales have increased every year for over 10 years except for 2020. What is the secret?

▶I think it is an attitude of not settling. There will be no development if you tie yourself within a framework. We always operate with consciousness of crisis that we must not rely solely on existing businesses. Low-frequency antennas, currently one of the flagship products, were initially produced by assembling imported products. However, the unit price and the burden on inventory were high. In order to improve this problem, we hired our own research staff and attempted localization, which led to the current results. These efforts allowed us to gain the trust of customers.

 

-What is the background to starting a business?

▶ While helping my husband, who was working in the construction business, I started this business around 1988 after receiving a recommendation from my acquaintance to start an automotive parts business. At first, I only did simple toll-processing work, but as the company and my desire to do well grew, I ended up here. Of course, the business was not smooth. In the past, I suffered from deficits and also suffered from prejudice in the industry such as ‘what the hell does a woman know?’ Looking back on it now, I think these adversities actually served as a stimulant. I was able to move forward by constantly whipping myself to prove myself.

 

-What is Vision Digitech’s goal?

▶Of course, the mid- to long-term goal is to continuously discover new business areas. To this end, we must develop design capabilities. The current number of researchers is 4, and the goal is to increase the number to 8 within 2 to 3 years. The short-term goal is to achieve sales of 22 billion won by 2026.

 

-What advice would you like to give to junior female entrepreneurs?

▶There is a saying that a tree with deep roots is not shaken by the wind. Recently, many female-owned businesses have had no choice but to shrink due to COVID-19, soaring raw material prices, and various regulations. Nevertheless, I think that if you build a solid foundation based on your delicate observation and flexibility as a woman, success will surely follow.

 

Reporter Shin Jung-eon shyoung3@imaeil.com <Source: The Maeil Shinmun, input. 3:02 PM, 2022.04.06, https://n.news.naver.com/article/088/0000752526>;