Element Makes Second Major Investment in South Korea in 6 Months With the Acquisition of CTK

August 03, 2023 14:40 Korea Standard Time

LONDON--(Business Wire / Korea Newswire)--Element Materials Technology (Element), a global leader in testing, inspection, and certification (TIC) is expanding its presence in Asia and enhancing its connected technology testing capabilities with the acquisition of CTK Co., Ltd. (CTK).

Established in 1998, CTK has grown to become one of the top 10 connected technologies testing companies in South Korea. With over 140 employees across four sites, the Radio Research Agency (RRA) and KOLAS 17025 accredited business specializes in Electromagnetic Compatibility (EMC) and wireless, product safety, and certification. Their expertise serves customers in the consumer, Internet of Things (IOT) devices, mobility, and medical end markets. CTK has long standing and strong relationships with some of the major technology companies globally.

This acquisition will add significant scale and scope to Element’s existing services both globally and in the region. CTK’s test equipment includes three 10m chambers, two 3m chambers, a debug lab, and the largest lab in South Korea for ingress protection (IP) testing. The purchase will increase Element’s regulatory and performance testing capacity and expand its presence in Korea to become a leading regional hub for technological development.

CTK has made significant investments to support its customers, in equipment, capability and expanding capacity. Most recently, CTK opened a new 4,400 m² testing center, Unhak 2, to meet the rising demand for electrical safety, reliability, and wireless testing in targeted end markets. The new facility includes, but is not limited to, semi anechoic chambers, a reliability test house and a 12-ton vibration tester.

Matt Hopkinson, EVP of EMEAA at Element, said: “As technology becomes ever more integral to daily life there is a growing demand for testing across connected technologies. Our customers are constantly producing new devices or software and need to get them to market quicker.

Through acquisitions such as this, we can ensure that our customers have access to high quality testing facilities wherever they are in the world, and products meet the relevant international standards in a safe and timely manner.”

Tae-Hwan Kim, CEO at CTK, commented: “It was important for our buyer to recognize the value in CTK’s people, services and customer relationships, in which we have developed over the past two decades.”

Chai-Gwang Lim, CEO at CTK, added: “The coming together of our businesses will allow CTK to flourish even further, and we are thrilled that our customers will now have access to Element’s experts and services around the world.”

Element’s Connected Technologies and Mobility business unit is comprised of 43 combined laboratories across the USA, UK, Germany, China, South Korea, and Japan, with a team of nearly 1,000 technology experts, equipped technically, operationally, and geographically to make certain that products are safe, compliant, and fit for purpose.

This acquisition marks Element’s second investment in South Korea within the last six months, following the purchase of NCT, a leading battery testing company.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230802219311/en/

Website: https://www.element.com/

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Element Materials Technology
Cheyenne O’Kane
+44 (0) 7748 281597

This is a news release distributed by Korea Newswire on behalf of this company.