17 May Recognized for its technology and growth, DRAX is selected as the National Innovative Company 1000!
Korea’s No. 1 fitness equipment brand, DRAX has been selected as the “National Innovative Company 1000” to lead Korea’s innovative growth.
“National Innovative Company 1000” is a project in which the Financial Services Commission, nine governmental departments (Ministry of Trade, Industry and Energy, Ministry of SMEs and Startups, Ministry of Science and ICT, Ministry of Health and Welfare, Ministry of Maritime Affairs and Fisheries, Ministry of Land, Infrastructure and Transport, Ministry of Culture, Sports and Tourism, Ministry of Environment, the Korean Intellectual Property Office), and policy financial institutions select representative companies to lead future innovation.
A total of 279 leading innovative companies has been selected two times since July 2020, and DRAX is one of the 321 innovative companies selected in the third round from the recommendation of the Ministry of Culture, Sports and Tourism and the evaluation of specialized institutions.
Based on a process system equipped with R&D and production, DRAX is recognized for its outstanding technology and leads the domestic and overseas fitness equipment industries. It’s also recognized for its innovative equipment based on patented technologies, such as the world’s first automatically controlled treadmill “Redon” and “My Mountain” that provides an effect of hiking indoors, as well as leading the digital transformation of the fitness industry with DRAXFit, a platform that links fitness and digital.
DRAX, which has been verified for its innovation and technology and recognized for its global growth potential through the selection as an innovative company, will receive active financial support through the policy financial institutions in the future. The company will receive financial support benefits, such as loans, guarantees, investment support, limit extension, and favorable interest rates.
In addition, DRAX will receive non-financial support, such as technical management, financial management consulting, and overseas business development support. According to the Financial Services Commission, a total of KRW 1.7983 trillion was provided to 140 companies with funding needs among the 279 companies previously selected.
DRAX CEO Yoo Sun-kyung said, “We thank you for selecting us as a national innovative company. We will become a company that leads the digital transformation of the global fitness industry beyond Korea through continuous R&D suitable for the era of Healthcare 4.0.”