Model Solution, a leading global proto-production company, strengthens its digital manufacturing solution with its partnership to PROTOTECH, a 3D printing expert
Seoul, Korea – 08 May 2023 – Model Solution, a subsidiary of Hankook & Company, on April 27, signed a memorandum of understanding (MOU) with PROTOTECH, a leading 3D printing company, for business cooperation in 3D printing. With this agreement, the companies aim to expand their rapid prototyping business and accelerate the development of high-value 3D printed parts. With this partnership, Model Solution aims to achieve a more comprehensive one-stop solution by entering the 3D printing industry in collaboration with PROTOTECH.
Model Solution is the only domestic hardware platform company that can provide all solutions from design and engineering, various prototypes, rapid molding technology for injection molding, and small-scale production of various products. PROTOTECH has been a leading 3D printing company dedicated to the growth of global 3D printing equipment and technology and 3D printing solutions for the past 27 years.
Model Solution's business areas include high-fidelity prototypes, molds/injections, and small-scale production of various products, which are areas with high entry barriers for 3D printing technology. The company is equipped with the latest equipment and infrastructure that include Stratasys' 3D printing equipment.
Byungil Woo, CEO of Model Solution, stated, "Due to its speed and flexibility, 3D printing has been an area of continuous interest for us as it has been able to establish a solid position in the field of prototyping." He added, "As a company that has supported Model Solution's 3D printing technology for a long time, PROTOTECH is now expanding the scope of cooperation and accelerating the pace of collaboration following the signing of the MOU."
PROTOTECH, founded in 1995 when the concept of 3D printing was still unfamiliar in Korea, has grown into a first-generation 3D printing company by supplying global 3D printing solutions such as Stratasys, Materialize, TRUMPF, and Desktop Metal to various industries, academia, and research institutes in Korea. The company not only supplies and maintains equipment but also provides part manufacturing services to leading companies using various types of 3D printers as assets. It also actively invests in developing 3D printing applications. In particular, PROTOTECH draws attention as a company that has been supplying parts to the domestic aerospace industry as the first AS9100 (Aerospace and Defense Quality Management System) certified company in the Korean 3D printing industry. As Model Solution expands its customer base in the growing aerospace industry, it also pays attention to PROTOTECH's AS9100 certification.
According to PROTOTECH CEO Sangmook Shin, "Through this MOU, Model Solution will be able to secure a foothold in the 3D printing manufacturing service business by utilizing PROTOTECH's strong infrastructure." He added, "PROTOTECH will also have the opportunity to utilize Model Solution's rich product development, mass production customer network, and create a Win-Win situation."
Meanwhile, Model Solution has been expanding its business since completing its listing on the KOSDAQ market in October 2022. The company has begun to actively nurture its CM (Contract Manufacturing) business unit, which became a separate Division last year. Model Solution is also actively pursuing growth by expanding into large customers in North America and expanding into new markets in Europe.