Hanwha Techwin Enters Unmanned Store Solution Business with 'Automatic Checkout' System

A Hanwha Techwin official is demonstrating how to use the 'Automated Checkout (ACO)'.

Photo by Hanwha Techwin

[Asia Economy Reporter Ki-min Lee] Hanwha Techwin announced on the 15th that it has developed and launched an Automatic Checkout (ACO) system and is entering the unmanned store solution business.

Hanwha Techwin explained that unlike most unmanned checkout counters, which require consumers to scan product barcodes themselves at self-checkout stations, they plan to differentiate by developing products in the form of automatic checkout counters.

The automatic checkout counter automatically recognizes product barcodes regardless of position or orientation using multiple sensors and cameras, so customers only need to place products on the conveyor belt. Therefore, it is easier to use compared to existing self-checkout counters and allows efficient queue management during peak times such as weekends or evenings when many customers gather.

Hanwha Techwin decided to pursue this business based on the fact that many retailers are increasing the introduction of various types of unmanned checkout counters to operate stores efficiently and expand 24-hour operations, while a significant number of consumers feel inconvenienced using self-checkout counters.

The industry expects the global unmanned checkout market size to reach approximately $3.5 billion (about 4 trillion KRW) and to grow at an average annual rate of over 9% for the next three years. In Korea as well, the number of stores operating unmanned checkout counters is steadily increasing, with an estimated installation of over 100,000 unmanned checkout counters currently.

Additionally, Hanwha Techwin signed a Memorandum of Understanding (MOU) on the same day with global machine vision company Cognex to promote the unmanned store business and cooperate in retail-related business fields based on new technologies to strengthen competitiveness in this field from a long-term perspective.

The two companies agreed to collaborate on ▲ development of unmanned checkout counters using video-based barcode recognition technology and deep learning image recognition technology ▲ development of unmanned store-related solutions ▲ establishment of a global sales network ▲ machine vision camera business.

Hanwha Techwin plans to maximize synergy effects between businesses by developing various unmanned store solutions that not only prevent various incidents in stores such as product theft and loss by linking with its core video security business but also provide various information to efficiently operate stores through intelligent video analysis.

A Hanwha Techwin official said, “Since this market has high growth potential and can create synergy with Hanwha Techwin’s core competency in video security, we will actively expand the business through continuous technology development.”

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