Novas EZ Co., a South Korean electronic manufacturing service company, is seeking new ventures for artificial intelligence (AI)-driven manufacturing automation solution platform business.

The company has ramped up its production in Vietnam since the Covid-19 pandemic, with all lines running at full capacity.

The mainboard modules produced by this company are crucial components that power various household appliances, including TVs.

The production volume at its Vietnamese factory last year increased by about 25 percent compared to the previous year.

Located about an hour’s drive southeast of Ho Chi Minh City lies the Ba Ria-Vung Tau Industrial Park.

Within the industrial zone sprawls the Novas EZ Vietnam entity, occupying 23,100 square meters of land, where over 240 employees, including five Koreans, manufacture mainboard modules worth 150 billion won ($112 million) annually.

Established in 1988 by Lee Young-nam, hailed as a first-generation female venture entrepreneur in Korea, Novas EZ expanded its business overseas by establishing a large-scale production base in Vietnam in 2018.

“Initially, we ventured into Vietnam to resolve labor cost issues and supply to Korean conglomerates operating there,” Jang Hae-hyun, Lee’s son, who currently oversees operations as the top manager of the Vietnam organization, told Maeil Business Newspaper. “It took numerous trials and errors before we could establish our presence.”

The company faced its greatest crisis around 2020 when the pandemic peaked. At that time, the factory was forced to shut down entirely due to the presence of infected individuals classified as close contacts, restricting all employees, including Jang, from leaving the premises.

“We stayed in the factory for about 100 days, focusing on production amid the severe Covid-19 situation” Jang recalled. “Despite the challenges, we managed to meet delivery schedules, significantly increasing production volume alongside gaining the trust of our clients.”

With the successful establishment of its production hub in Vietnam, Novas EZ is gearing up for further expansion of its overseas production base and business scope.

Jang revealed plans to explore Egypt as a production hub, leveraging export incentives and its position as a gateway to the European market.

The company is also preparing to venture into the AI-driven manufacturing automation solution platform business. As there is a lack of well-established system integration companies in Vietnam, Novas EZ has embarked on developing its own AI-based production system, with plans to launch related products for sale in Korea and Vietnam within the next two to three years.

By Park Joon-hyung and Minu Kim

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]