# Sangmin Park

> Sangmin Park is the CEO of 현대엠시스템즈(주) (Hyundai M Systems), a Suwon-based Korean company that builds intelligent safety systems for construction equipment. Founded in 2003 and now part of the Hyundai Mirae-ro Group, the company combines cameras, 24GHz radar and controllers into products like AVM-RDS (Around View Monitor with Rear Detection System) that reduce blind spots and prevent accidents on excavators, wheel loaders and forklifts. Under Park, the company became a tier-1 supplier to Volvo Construction Equipment and Hyundai (HD) Construction Equipment, raised a 5 billion won Series B in July 2024, and set its sights on becoming the world leader in construction-equipment safety.

- **Role:** CEO at 현대엠시스템즈(주) (Hyundai M Systems)
- **Organizations:** 현대엠시스템즈(주) (Hyundai M Systems), Hyundai Mirae-ro Group (현대미래로그룹)
- **Nationality:** South Korean
- **Known for:** Leads Hyundai M Systems as CEO, growing it into a tier-1 safety-systems supplier to Volvo Construction Equipment and Hyundai (HD) Construction Equipment., Oversaw development of AVM-RDS (Around View Monitor with Rear Detection System), combining cameras and radar to eliminate blind spots on heavy equipment., Drove in-house development of a 24GHz FMCW/CW dual-mode radar chip and module.

## Career timeline

- **2003** — Hyundai M Systems is founded as a construction-equipment components and telematics company.
- **2017** — Hyundai M Partners takes a 75.9% stake; the company joins the Hyundai Mirae-ro Group and begins developing AI-based construction safety solutions.
- **2021** — Closes a 3 billion won Series A led by POSCO Technology Investment and Korea Asset; revenue reaches ~9 billion won.
- **2023** — Begins mass-supplying high-resolution cameras and intelligent safety systems for next-generation excavators at Volvo Construction Equipment's Changwon plant; revenue ~11.6 billion won.
- **2024** — Raises a 5 billion won Series B (Friend Investment Partners 3B, Albatross Investment 2B) in July; prepares supply to a plant in Germany.
- **2025** — Targets new global customers via the Bauma trade fair; aims for ~15 billion won in revenue.

## Achievements

- Leads Hyundai M Systems as CEO, growing it into a tier-1 safety-systems supplier to Volvo Construction Equipment and Hyundai (HD) Construction Equipment.
- Oversaw development of AVM-RDS (Around View Monitor with Rear Detection System), combining cameras and radar to eliminate blind spots on heavy equipment.
- Drove in-house development of a 24GHz FMCW/CW dual-mode radar chip and module.
- Grew annual revenue from ~9 billion won (2021) to ~11.6 billion won (2023).
- Raised two institutional rounds - a 3B won Series A (2021) and a 5B won Series B (2024).
- Expanded the business internationally, moving from Volvo's Korean plant to supply for a factory in Germany.

## Latest updates

- **2024-07** — Closed a 5 billion won Series B round from Friend Investment Partners and Albatross Investment to scale production and product development.
- **2023-11** — Started mass-supplying safety systems for next-generation excavators at Volvo Construction Equipment's Changwon plant.

## Links

- Website: https://hyundai-msystems.com
- LinkedIn: http://www.linkedin.com/in/sangmin-park-947065204

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Profile page: https://yespress.io/sangmin-park
Published by YesPress — https://yespress.io
Last updated: 2026-07-29