SEOUL, South Korea, May 6, 2024 /PRNewswire/ -- STRADVISION, a leader in the automotive technology sector, proudly welcomes SUNG WOO SHIN from Hyundai Motor Company to its esteemed board of directors.

With over two decades of invaluable experience in the Automotive industry, SUNG has been at the forefront of innovation. Currently serving as Vice President overseeing Hyundai's Corporate Venture Capital (CVC) investments, which encompass hundreds of direct investments and 17 funds, SUNG has played a pivotal role in driving Hyundai Motor Group's corporate venturing-based innovation initiatives. He holds a Bachelor of Science in Industrial Engineering from Purdue University and an MBA from China Europe International Business School (CEIBS).

Junhwan Kim, CEO of STRADVISION, expressed his anticipation, stating, "We are privileged to welcome Mr. SUNG WOO SHIN to our STRADVISION board, and we eagerly anticipate his collaboration, leadership, and expertise. Together, we are poised to pursue ambitious goals in leading the autonomous driving market. Mr. Sung's wealth of knowledge and experience gained from a leading automobile company will undoubtedly enrich our business endeavors."

STRADVISION has witnessed significant growth over the past year, culminating in a milestone achievement of exceeding an annual commercial production of 1 million units in 2023. The company's SVNet has evolved with the introduction of the '3D Perception Network,' marking a revolutionary leap in autonomous systems. This innovative paradigm elevates the role of cameras in ADAS and Autonomous Driving, harnessing the power of LiDAR sensors during development while transitioning into a robust and cost-effective alternative. STRADVISION's strategic move to bypass in-vehicle LiDAR, focusing instead on camera-based ADAS and autonomous driving technologies, reflects its commitment to innovation, cost efficiency, and market leadership. This approach not only reduces the overall implementation costs of ADAS/AD technology in vehicles but also augments the scalability and adoption of autonomous driving features across the automotive industry.

For more information on STRADVISION and its cutting-edge technologies, please visit STRADVISION.

About STRADVISION 

Founded in 2014, STRADVISION is an automotive industry pioneer in artificial intelligence-based vision perception technology for ADAS. The company is accelerating the advent of fully autonomous vehicles by making ADAS features available at a fraction of the market cost compared with competitors. STRADVISION's SVNet is being deployed on various vehicle models in partnership with OEMs; can power ADAS and autonomous vehicles worldwide; and is serviced by over 300 employees in Seoul, San Jose, Detroit, Tokyo, Shanghai, and Dusseldorf. STRADVISION has been honored with Frost & Sullivan's 2022 Global Technology Innovation Leadership Award, the Gold Award at the 2022 and 2021 AutoSens Awards for Best-in-Class Software for Perception Systems, and the 2020 Autonomous Vehicle Technology ACES Award in Autonomy (software category). In addition, STRADVISION and its software have achieved TISAX's AL3 standard for information security management, as well as being certified to the ISO 9001:2015 for Quality Management Systems and ISO 26262 for Automotive Functional Safety.