UL Acquires KBW Corporation

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NORTHBROOK, Ill., Feb. 28, 2022 /PRNewswire/ -- UL, a global safety science leader, today announced its acquisition of KBW Corporation, a Korean-based testing and market access services provider for medical devices and consumer technology products.

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Provider:

PR Newswire

Retrieved on:

Monday, February 28, 2022

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Tags:

Certification, Inspection, TIC, Intelligence, Safety, Safety engineer, Risk management, Acquisition, Seoul Capital Area, Testing, inspection and certification, Solution, CEO, Dietary supplement

Geotags:

ILLINOIS, KOREA, ASIA, UL

Organisation:

UL, KBW CORPORATION

Summary

Key Points:

NORTHBROOK, Ill., Feb. 28, 2022 /PRNewswire/ -- UL, a global safety science leader, today announced its acquisition of KBW Corporation, a Korean-based testing and market access services provider for medical devices and consumer technology products.
"UL is a global leader in product safety and strives tobe therisk mitigation partner of choice for our customers.
We are delighted to welcomeKBW Corporationto UL, deepening the expertise we already offer in Korea and Asia Pacific overall," said Jennifer Scanlon, president and CEO, UL Inc. "We are confident this acquisition will allow UL to further help our customers succeed inever-changing global markets."
"We are excited to officially join UL," saidSung Hoon Baek, co-founder and CEO of KBW Corporation.

UL Acquires KBW Corporation

NORTHBROOK, Ill., Feb. 28, 2022 /PRNewswire/ -- UL, a global safety science leader, today announced its acquisition of KBW Corporation, a Korean-based testing and market access services provider for medical devices and consumer technology products.

"UL is a global leader in product safety and strives to be the risk mitigation partner of choice for our customers. We are delighted to welcome KBW Corporation to UL, deepening the expertise we already offer in Korea and Asia Pacific overall," said Jennifer Scanlon, president and CEO, UL Inc. "We are confident this acquisition will allow UL to further help our customers succeed in ever-changing global markets."

"UL has been operating in Korea for over 25 years and continues to see this market as a key hub for technological innovation," Weifang Zhou, UL's executive vice president and president of Testing, Inspection and Certification. "Welcoming KBW Corporation allows UL to broaden our medical device and consumer technology safety testing capabilities within the region, which will provide our customers faster time-to-market and an enhanced customer experience."

Founded in 2013 and headquartered in Uiwang, a city in the Gyeonggi Province part of the Seoul National Capital Area, KBW Corporation specializes in safety and electromagnetic testing for medical devices and consumer technology products.

"We are excited to officially join UL," said Sung Hoon Baek, co-founder and CEO of KBW Corporation. "There is a long-standing relationship between these companies and we share in UL's mission-centric culture, commitment to excellence and customer focus."

The transaction closed on February 28, 2022.

About UL

UL is a global safety science leader. We deliver testing, inspection and certification (TIC), training and advisory services, risk management solutions and essential business insights to help our customers, based in more than 100 countries, achieve their safety, security and sustainability goals. We believe our deep knowledge of products and intelligence across supply chains make us the partner of choice for customers with complex challenges. Discover more at UL.com.

Press contact:
Steven Brewster
UL
[email protected]
1+847.664.8425

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SOURCE UL