Source: http://www.koreatimes.co.kr/www/news/tech/2015/02/133_173080.html (The Korea Times, 2015/02/05)

TmaxSoft seeks to expand overseas sales

By Yoon Sung-won

TmaxSoft aims to attain bigger sales overseas than at home this year by setting up 30 more subsidiaries abroad and aggressively marketing its database management system Tibero.

It said it has set its overseas sales target at 120 billion won for this year, and has yet to compile exact overseas sales for 2014.

The Korean database management service producer expects its domestic sales to reach 110 billion won this year compared with an estimated 98 billion won the previous year.

The company pledged to expand the number of its overseas branches to challenge IT giants such as Oracle.

"We expect to generate momentum for growth in both the domestic and global market in 2015," said TmaxSoft CEO Chang In-soo. "We are confident in the market success of our database management system Tibero, which has high product stability and reliable global reference."

TmaxSoft operates with seven overseas subsidiaries in Japan, China, Singapore, Brazil, Russia, Britain and the United States. Starting this year, it plans to add 30 more subsidiaries in Europe, North America, Asia, Middle East and Africa by 2016.

The company said it will aggressively promote the Tibero system in the global market by establishing networks with local partners to run joint marketing strategies.

For the rapidly expanding big data market, it said it plans to roll out data analysis software products and an update for its Tibero system this year.

Its expansionary move reflects a growing demand for an alternative database solution vender from clients in the Korean market, including government organizations such as the Ministry of National Defense, Korea Post, Korea Water Resources Corp. and other companies.

In the global market, TmaxSoft has won deals with financial institutions in Russia, IT companies in China and airliners in Singapore and worked with the Japanese branch of global network software firm Red Hat to launch a joint promotion in the country.

yoonsw@koreatimes.co.kr