The Korean software market is often referred to as a “barren land” for domestic software developing firms since it is widely dominated by foreign software behemoths including Oracle, IBM and SAP.
Against all odds, TmaxSoft, established in 1997, has been increasing its foothold both at home and abroad with its own technological capabilities for database management systems, which help companies efficiently handle data.
The headquarters of TmaxSoft in Bundang, Gyeonggi Province. (TmaxSoft)
Participating in a media event to celebrate the recent opening of TmaxSoft’s new head office in Bundang on Tuesday, TmaxSoft CEO Chang In-soo vowed to reinforce its global operations.
“TmaxSoft will step up its efforts to tap into more global markets for growth down the road,” the TmaxSoft CEO said.
The CEO also said the company would spare no effort to collaborate with other local software firms to go into global markets together.
In line with the efforts, the company will leave the door of the head office wide open to other software firms to encourage open and better communication among partners and competitors.
“TmaxSoft will let companies in the software sector hold seminars or meetings at the firm’s conference halls or meeting rooms,” he said.
The Korean firm has 2,800 corporate customers, including GE Capital, Hyundai Motor Group and Nomura Securities, utilizing its database management system Tibero and Wet application server Jeus around the world. It runs 10 global offices, including in Russia, Canada, the U.S. and Japan.
An official from TmaxSoft said there is quite high demand for the Tibero database management system in foreign markets as many companies want to replace systems from Oracle and IBM, which wield disproportionate power -- often with unfair business practices such as overpricing -- over its customers.
The Korean company was put under a workout program after it was hit by a financial crunch in 2010, and went through a corporate workout for the next two years.
The new 17-story headquarters with 27,603 square meters of gross floor area is located in Bundang, Gyeonggi Province, home to a horde of tech companies that includes Internet giants Naver and Kakao and game developers NCSoft and Nexon Korea.
By Kim Young-won (firstname.lastname@example.org