SEOUL, South Korea–(BUSINESS WIRE)– According to TrendForce’s “2022 Global LED Lighting Market Analysis” and the database released by Omdia, Seoul Semiconductor Co., Ltd. (KOSDAQ:046890), a global optical semiconductor company, has ranked third in the global market and first in Korea, which is a reflection of the company’s remarkable accomplishments of over 18,000 new technology patents.
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“2022 Global LED Market Share Database” by Omdia, June 2023 (Source: Omdia)
Such recognition for Seoul Semiconductor is not only an evidence of its technological prowess but also symbolically significant for young entrepreneurs in the startup businesses and for SMEs. While the top five manufacturers in the global LED market have been large in scale since their predecessors, Seoul Semiconductor started as a venture company by Founder Lee Chung-hoon, the current CEO, in a small building’s rooftop space, which President Lee rented out by putting his house down as collateral. For over three decades since its establishment, Seoul Semiconductor solely focused on optical semiconductors, developing over 18,000 patented technologies and competing against major LED lighting manufactures to reach the current position of third in the world. This becomes a model for startups and venture companies that they can also become the world’s top technology companies if they make efforts and investments in technology.
Seoul Semiconductor’s excellence in technology has attracted multiple M&A proposals by top global companies, but President Lee stated, “There are companies out there that choose to expand in size through M&A to increase sales. This is a short-term growth strategy. For us, however, we already have our own patented technologies and independent sales networks. I did not consider M&A because I felt it would not be helpful in creating synergies in new technologies and expanding our new sales networks.”
Seoul Semiconductor will continue to devote itself to developing optical semiconductor technologies toward its vision of “Make the World Cleaner, Healthier, Safer and More Beautiful with Light.”
About Seoul Semiconductor
Seoul Semiconductor is the world’s second-largest global LED manufacturer, a ranking excluding the captive market, and has more than 18,000 patents. Based on a differentiated product portfolio, Seoul offers a wide range of technologies, and mass produces innovative LED products for indoor and outdoor lighting, automotive, IT products, such as mobile phones, computer displays, and other applications, as well as the UV area. Seoul’s world’s first development and mass production products are becoming the LED industry standard and leading the global market with a package-free LED, WICOP; a high-voltage AC-driven LED, Acrich; an LED with 10X the output of a conventional LED, nPola; a cutting edge ultraviolet clean technology LED, Violeds; an all-direction light emitting technology, filament LED; a natural sun spectrum LED, SunLike; and more. For more information, please visit www.seoulsemicon.com/en, YouTube, LinkedIn.
Seoul Semiconductor Co., Ltd.