Galaxia Electronics, attacks Vietnamese LED market

Hyosung's LED-specialized company Galaxia Electronics Co. (Representative Director Yoon Ok-seop) signed MOU on 13th with the largest national lighting company in Vietnam Rang Dong Light Source and Vacuum (hereinafter referred to as Rang Dong), and made a full-scale entrance into the Vietnamese LED fish lamp market starting with installation of 30 lightings as a demonstration and receiving the order of 150 lightings.

Galaxia Electronics and Rang Dong made a contract on the OEM business of LED fish lamps in the partial assembly way (SKD way), and determined to cooperate for expanding the LED lighting market share in Vietnam and nearby countries. Galaxia Electronics is now able to make fast delivery and efficient inventory control through Rang Dong's own production facilities and about 7,000 retail shops in Vietnam, and Rang Dong is now able to secure the fish lamp product families requiring technologies, other than ordinary LED lightings.

Galaxia Electronics has prepared to attack such niche markets as fish lamps used for fishing at night, instead of the very competitive ordinary LED lighting market. Vietnam has high demand of fishing boats, but as they lack technology for LED fish lamp production, local production in Vietnam is not easy. As the 140W LED fish lamp has better energy saving effect than the previous 1000W metalhalide fish lamp and it is possible to reduce the generator capacity for power production, cost saving is also possible. It is also possible to expect rapid growth of potential demand which is now about 320 thousand boats.

Representative Director Yoon Ok-seop of Galaxia Electronics said, “Interest in LED lighting is rapidly growing in the Vietnamese market. We have a plan to hold related seminars together with the Vietnamese Ministry of Science and Technology,” and “we will be aggressive so that we can accomplish 30% share in the Vietnamese LED fish lamp market in 5 years through solid cooperation with Rang Dong. Beginning with the fish lamp sales, we will steadily attack the Vietnamese outdoor LED lighting market”.