Kodicom 2003 Sales Revenue: US$28.5 million Revenue Growth: 14.1 percent Profit in 2003: US$13.4 million Profit Growth: 11.09 percent

In 2003, Kodicom recorded US$13 million in profit, 11 percent more than in 2002.

Meanwhile, revenue increased 14 percent to $28 million.

These results are impressive considering that the Korean economy has been sluggish for quite some time.

Laurels
Founded in October 1996, Kodicom developed the first DVR models in the industry with high-speed recording of 480 frames per second. It was also at the technology forefront in software zip programs, enabling 16 cameras to simultaneously record real time (30 frames per second).

The company was also selected a top company by the Ministry of Commerce, Industry and Energy of Korea in November 2001. It won Best Company in the first Digital Innovation Contest from the administrator of the Small and Medium Business Administration in December the same year.

Given that the DVR market in Korea has been overcrowded for a long time, how exactly did Kodicom manage to bag such a glittering handful of prizes?

"We jumped into DVRs earlier than our competitors. This helped us understand the market and find loyal partners in advanced countries. In addition, we try to reflect on our customers' opinions and feedback as much as we can," said Choy Namjin, sales manager for North America.

To score high profits, Kodicom reduced material costs and added more features to its DVR software. "With value-added software, we could maintain our prices better since customers are more willing to pay for value-added products," he said.