[Biz Leader] Thinkware Expanding with Physical AI, Maps, and IP... Aiming for Global Deep-Tech Mobility Leap

Accumulated Edge AI Capabilities from Black Boxes Extend to Robots and Humanoids
Secured 2,565 Patents Domestically and Internationally
Discussions Underway with Global Big Tech Companies on IP Business

Jinwoong Han, Executive Director at Thinkware.

"Thinkware's direction is not just to be a company that makes a single good product, but to become a company that provides technology to recognize, understand, and operate in physical spaces of the real world."

Jinwoong Han, Executive Director of Thinkware, defined the company's future in these terms. Beyond simply expanding its stable cash-generating black box product line, Han plans to connect devices, AI, maps, data, and intellectual property (IP) into a single ecosystem and expand Thinkware's business scope to include robotics and physical AI.

Han emphasized, "The transformation of our business is not the result of a decision made at a specific point in time. Rather, it is the natural expansion of growth strategies accumulated in pursuit of our goal to become the world’s No.1 black box provider. We have diversified revenue streams through overseas expansion of black boxes and secured numerous patents through product function advancements."

The starting point of Thinkware's transformation is the black box. Since 2022, overseas sales of black boxes have outpaced domestic sales, and Thinkware continues to maintain its position as an exclusive global vendor for BMW. Over more than ten years, experience in supplying functional and customized products to finished vehicle manufacturers, car rental companies, and insurance companies has provided a foundation for the company’s expansion into the global automotive electronics market.

This year, the profitability of the global device business is showing improvement. Although skyrocketing memory prices have been a burden, the company achieved a turnaround with a separate operating profit of 1.2 billion won in the second quarter of the year. Additionally, supply to Mercedes-Benz Korea has begun, and discussions are underway regarding expanded supply to Japanese automakers. The strategy is to channel the stable cash flow generated from the device business into new growth engines.

The second pillar is vision AI. Thinkware has commercialized object recognition and deep learning-based real-time video processing/analysis technologies on the Inavi QXD black box by combining Ambarella's edge AI chips and its own vision AI algorithms.

Han stated, "We have acquired the capability to instantly recognize and analyze footage directly on the device without the need for server processing." He stressed, "The system is composed of five versatile functions including image classification, object detection, object segmentation, OCR, and facial/behavior recognition, so it is not limited to the driving footage domain."

Thinkware plans to expand these applications to include manufacturing/industry, mobility, security/control, healthcare, and distribution/logistics. In particular, the manufacturing process vision inspection and security/control sectors are expected to see relatively rapid commercialization, as they are highly analogous to the real-time object recognition technology already validated through black box products.

Ultimately, the company is eyeing expansion into physical AI such as industrial robots and humanoids. Han noted, "In the realm of physical AI, low-power edge AI technology capable of real-time AI computation in limited power environments is crucial. Thinkware, through its black box business, has gained experience in the entire process from video collection and storage to processing, analysis, and AI algorithm application, and possesses the manufacturing capability to implement this as a hardware module for real products."

Maps are another core pillar for growth in conjunction with AI. Thinkware owns integrated map solutions covering SD, ADAS, and HD maps, while its subsidiary Inavi Systems boasts point cloud-based outdoor precision surveying and BIM-level indoor modeling technology. The aim is to advance these into a 'Robotics Map,' transforming them into autonomous navigation routes for robots and expanding into smart logistics and robotics fields.

The company is also full-scale entering digital twin business. Thinkware is building an urban digital twin platform in Gimhae, Gyeongnam Province, the demonstration site selected in 2025 for the Ministry of Land, Infrastructure and Transport’s 'Small Smart City Construction Project.' The platform integrates SD, ADAS, and HD maps with real-time data. It aims to demonstrate multimodal route guidance, K-MaaS connectivity, carbon-reducing route search, smart parking, and flood warning and detour route guidance.

Thinkware is seeking opportunities overseas as well. In line with the movement in the United States to exclude Chinese technology, the company is preparing a product lineup covering not only premium black boxes but also value-oriented products, and plans to expand B2B products such as multi-channel DVRs, E-Mirrors, and smart audio solutions.

Han commented, "Given the influence of the North American market, distrust in Chinese technology is expected to gradually spread from the U.S. to other major Western countries. We plan to use this as an opportunity to replace products that Chinese companies have traditionally focused on and to expand our presence in the North American automotive electronics market."

The final pillar for growth is IP. Centered on navigation and autonomous driving, Thinkware holds a total of 2,565 patents, including 827 domestic and international registered patents and 1,738 patent applications. The strategy is to monetize its location-based services, object recognition, map data, and autonomous driving/ADAS-related technologies through expansion into global platforms, automakers, drones, and more.

Han stated, "We are having in-depth discussions with global big tech companies regarding the monetization of our IP, and full-scale monetization is expected to proceed soon. Currently, more than ten projects based on our technology are under consideration or in progress."

He continued, "Thinkware is moving beyond the label of 'black box powerhouse' and is transitioning into a global deep tech mobility company encompassing devices, AI, spatial information, and IP."

This content was produced with the assistance of AI translation services.