Fieldsolution aims to be a technology innovator in next-generation energy and environment.
Korea IT news
Fieldsolution CEO Daechun, Kim
Fieldsolution is a startup specializing in the Industrial Internet of Things (IIoT) for water treatment.
Globally, industrialization, climate change, and population growth are driving water demand and clean water demand is increasing rapidly.
Developed countries and industries see the global water issue as a new business opportunity and expect to invest about 1,000 trillion won (currently 688 trillion won) in the water industry by 2025.
The water industry is divided into waterworks, sewerage, wastewater, industrial water and seawater desalination projects.
France and Japan have a high share in the global market.
CEO Daechun, Kim said, “Water is a resource that is used more than oil, and water industry is currently the most heavily invested sector.”
The Seoul Waterworks Authority has also announced plans to invest 1.4 trillion won to build a smart water grid using IoT.
Fieldsolution has planned to enter the global water treatment market dominated by global companies, by combining its own IoT technology with Korean water treatment products.
The global remote process monitoring and control market are worth 4.43 trillion won in 2019. It grows by 10% annually.
Fieldsolution integrates IoT technology with existing simple control methods to organize devices, application software, and services.
Through this, Fieldsolution collects data from sensors and equipment installed on the sites and provides customized real-time service.
Customers can reduce the management effort on the water treatment site and reduce maintenance costs by 30-50%.
Kim said, “The goal is to advance into the energy sector, starting with the field of water treatment control and analysis.”
“We will become an EPC (Engineering, procurement, construction) company specializing in control and instrumentation.”
Fieldsolution was established this year, but CEO Daecheon, Kim spent five years in preparation for business, starting with technology development and patent acquisition during the weekend in parallel with his work life.
Kim said, “The most difficult thing is time management since I started a business.” I learned how to strictly manage schedules according to the timetable such as administration, business meetings, and study for development.
Kim was once a member of the Korean Agency for Technology and Standards and has long experience in domestic and overseas specialized companies.
The driving force that led him to start a business was in the ‘field’.
The company’s name was also named ‘field solution’, which means ‘there is a solution in the field.’
Kim said, “The water treatment market is well established in large-scale facilities, but there are many problems in the medium-sized facilities because they have a relatively low level of skill in semi-automation.”
He explained the background of the discovery of niche markets.
Fieldsolution has installed and operated it’s own water treatment product FS series in domestic sewage and wastewater facilities to reach a high degree of perfection through feedback.