Global safety science provider UL has acquired 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,” says 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.”
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.
“UL has been operating in Korea for over 25 years and continues to see this market as a key hub for technological innovation,” says 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.”
The transaction closed on Feb. 28, 2022.
“We are excited to officially join UL,” says 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.”