Rest Space Cars 'Consumer Demand'... Growth of the Automotive Convergence Market

Yang Ho-chan BNLK STAR CEO "Aiming for Localization of Convergence Technology, Will Pioneer Domestic Convergence Market"

Yang Ho-chan, CEO of BNLK STAR. [Photo by BNLK STAR]

[Asia Economy Reporter Kim Jong-hwa] Due to the impact of COVID-19, the role of automobiles has been re-recognized as a space for rest beyond just a simple means of transportation, leading to growth in the convergence automobile market, including camper vans.

'Convergence' refers to integration, combination, and fusion, creating new value industries through the merging of different industries. Examples include the combination of mobile phones, TVs, and cameras. The automobile convergence industry adds functions such as travel, rest, leisure, and protocol to cars, which were previously recognized only as transportation, satisfying consumer demands.

Leading companies in the global automobile convergence market include Germany's BRABUS, with 40 years of experience, and the US-based VIP company Becker Automotive Design, with 20 years of experience. Among domestic companies, BNLK STAR stands out.

According to the automobile convergence industry, the domestic automobile convergence market exceeded 1 trillion won last year and is estimated to reach 1.4 trillion won this year. Although the domestic market has ample potential for rapid growth, the industry analyzes that it is still in the early stages of entry.

BNLK STAR Co., Ltd., a leading company in the industry, recorded sales of only 6.4 billion won last year. However, its growth rate is fast. Compared to 3.6 billion won in 2018, it grew 1.75 times, and this year, it expects sales of about 11.6 billion won, roughly double that of last year.

Yang Ho-chan, CEO of BNLK STAR Co., Ltd., is a veteran in the domestic automobile convergence market. He entered the automobile convergence market in earnest in 2005, initially focusing on B2B (business-to-business) services such as wedding cars and hearses. Since 2013, by targeting individual consumers seeking their own space and time through the B2C (business-to-consumer) market, he has established himself as the absolute leader in the domestic automobile convergence market.

BNLK STAR introduced the first wedding car & hearse limousine in Korea and is recognized for its expertise as a consulting and full environmental testing agency for SK Networks' imported cars, as well as a certification company. It has also formed a partnership with Sehwa Motors, a globally recognized specialist in multipurpose and special vehicles ranging from military vehicles, ambulances, police cars to lift vehicles for the disabled, cooperating for global expansion.

CEO Yang said, "The interior space of a car through conversion provides comfort as if you are at home, and through car camping or camping, it allows families to share valuable experiences." He added, "We will continue investing in research and development (R&D) aimed at domestic localization and export of convergence technology, pioneering the domestic convergence market."

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