UL acquires KBW Corporation
NORTHBROOK, Ill., February 28, 2022 /PRNewswire/ — UL, a global leader in safety science, today announced its acquisition of KBW Corporation, a Korean provider of testing and market access services for medical devices and consumer technology products. .
“UL is a global leader in product safety and strives to be the risk mitigation partner of choice for our customers. We are delighted to welcome KBW Corporation to UL, deepening the expertise we offer already in Korea and Asia Pacific overall,” said Jennifer ScanlonPresident and CEO, UL Inc.. “We are confident that this acquisition will allow UL to further help its customers succeed in ever-changing global markets.”
“UL has operated in Korea for over 25 years and continues to see this market as a key hub for technology innovation,” Weifang Zhou, UL’s executive vice president and president of testing, inspection and certification. “Welcoming KBW Corporation allows UL to expand its medical device and consumer technology safety testing capabilities in the region, which will provide our customers with a faster time to market and improved customer experience.” improved.
Founded in 2013 and headquartered in Uiwang, a city in Gyeonggi Province within the Seoul National Capital Region, KBW Corporation specializes in safety and electromagnetic testing for medical devices and consumer technology products.
“We are delighted to officially join UL,” said Sung Hoon Baek, co-founder and CEO of KBW Corporation. “There is a long-standing relationship between these companies and we share UL’s mission-centric culture, commitment to excellence and customer focus.”
The transaction was closed on February 28, 2022.
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