ATEC

What ATEC does

ATEC Co., Ltd. (주식회사 에이텍) is a South Korean KOSDAQ-listed (ticker 052900) cash automation platform specialist that designs, manufactures, and services hardware for financial institutions and large retailers. Founded in 1993 with roots in the 1989 LG Electronics financial automation business unit, the company operates a multi-segment product portfolio spanning cash-recycling ATMs (LC24, LC50, LC90), teller cash recyclers (LTA-100, LTA-380, LTA-450), multi-functional ATMs handling bills/coins/checks/gift cards (LC70/71, C3L, C5L, E3, E7, LC81, LC85), back-office cash recyclers for retail (RC91, RC93, RC95), card-management kiosks (DS22), self-checkout terminals (RC23C), video-counseling "Digital Desks" (DD01), electronic shelf labels (ESL via the merged ATEC IOT subsidiary), and counterfeit-detection/sorting equipment. Its core technical differentiator is proprietary cash-recycling technology first developed domestically in 2009 (world's 4th), combined with a nationwide Korean service network enabled by proprietary TIMS (Total Information Management System) and NMS (Network Monitoring System) platforms.

ATEC sells primarily through direct enterprise sales to banks, securities firms, insurance companies, and large retail chains, supported by wholly-owned overseas subsidiaries ATEC USA (established May 2018, relocated April 2025) and ATEC EUROPE (established 2023), plus channel partners including ACG for North America, Glory for Japan, and NCR China for the Chinese market. Revenue is generated through one-time hardware sales, recurring maintenance and managed-service contracts, and embedded software licensing. Pricing is quote-based for B2B enterprise sales and not publicly disclosed. Notable customer wins include Truist Bank (US TCR, 2022), Revolut (Europe's largest digital bank, 2025), Halyk Bank (Kazakhstan's largest bank), NH Nonghyup, IBK, Shinhan, Busan Bank, Kyobo Life, Hyundai Department Store, E-Mart, and Kangwon Land. The company holds approximately 49% domestic Korean ATM market share, 95%+ share of Portugal's VTM market via the LC71, and approximately 10% of the US TCR market, with about 66,000 units installed across 15 countries.

In December 2017, ATEC completed a spin-off from LG CNS's financial automation division to become an independent automation platform specialist; the company then acquired LG Innotek's ESL business in 2020 and completed a small-scale merger with subsidiary ATEC IOT in September 2025. Export revenue grew from approximately $10M (2022) to approximately $20M (2025), earning consecutive Export Tower Awards, with the most recent 2025 revenue estimated at approximately 111 billion KRW.

Name

ATEC

Legal name

주식회사 에이텍

Website

https://atec.kr

Company type

Public

Founded year

1993

Operating status

Operating

Headcount range

1–10 employees

Short description

ATEC is a South Korean KOSDAQ-listed cash automation platform specialist that designs and manufactures cash-recycling ATMs, teller cash recyclers, retail back-office cash recyclers, video-counseling digital desks, and electronic shelf labels, serving banks, insurers, retailers, and casinos across 15 countries.

Ownership category

akta.pro rank

Product category

Banking and Retail Cash Automation Hardware

NAICS

Computer Terminal and Other Computer Peripheral Equipment Manufacturing (334118), Commercial and Service Industry Machinery Manufacturing (333310)

SIC

Misc Industrial & Commercial Machinery & Equipment (3590)

akta.pro primary industry

Cash Drawers, Cash Handling & Coin/Bill Counters (HDACAKAE)

akta.pro secondary industries

ATM Deployers & Managed ATM Services (IAD/ISO) (FSAMAOAC), Corporate Cards & Expense Solutions (T&E, purchasing, fleet) (FSABAIAG)

Keywords

• Cash automation hardware
• Teller cash recyclers
• ATM manufacturing
• Retail cash management
• Self-service banking kiosks

Headquarters

HQ city

Seongnam

HQ country

South Korea

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Hardware Product Sales: Sale of ATM machines, TCRs (Teller Cash Recyclers), retail cash management devices (RC series), digital desks, and kiosks. One-time capital equipment sales with unit pricing per device.
2. Maintenance and Service Contracts: Integrated maintenance services covering hardware support, software updates, parts replacement, and field service through nationwide service network. TIMS (Total Information Management System) and NMS (Network Monitoring System) enable proactive maintenance.
3. Software Solutions and Licensing: Software licenses for digital desk solutions, video counseling systems, and cash management software embedded in hardware products.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

ATEC designs, manufactures, and services cash automation hardware for financial institutions and large retailers. Its core offerings include Cash Recycling ATMs (CRM/ATM) for self-service banking, Teller Cash Recyclers (TCR) for back-office branch cash handling, Retail Cash Management Systems for store back-office settlement, Digital Desks (DD01) for video teller/counseling, and Electronic Shelf Labels (ESL). Products are sold as capital hardware units with embedded software, integrated maintenance service contracts (TIMS/NMS), and overseas channel distribution via ATEC USA and ATEC EUROPE subsidiaries.

Product overview

ATEC operates as a cash automation platform specialist offering a multi-segment portfolio of hardware products and associated services. The Financial Solution segment (domestic Korean market) includes DD01 Digital Desk for video teller services with Cisco integration, LC96 Slim STM and LC24 Cash Recycling ATM for banking self-service, DS22 Card Management Kiosk for instant card issuance, and LC50/LC90 ATM variants. The Retail Solution segment provides back office cash recyclers (RC95, RC93, RC91), self-checkout settlement terminals (RC23C), smart slim ATMs (LC23, LC21), cash dispensers (LC01), and counterfeit detection equipment (GBA-100K, USF-52R, UW-F4) — all developed with domestically-produced technology. The Overseas Solution segment serves Americas and EMEA markets with ATM models (C3L, C5L, ezATM6000/6100, E3, E7, LC70/71, LC71R, LC81, LC85) and TCR products (T1/LTA-100, LTA-380, LTA-450) for bank teller automation. The ESL (Electronic Shelf Label) Solution is operated through a separate subsidiary (ATEC IOT). The Service Infra Solution provides nationwide maintenance infrastructure including TIMS (service management system), NMS (network monitoring), and mTIMS mobile app. ATEC was formed in December 2017 through the spin-off of LG CNS's financial automation business and holds approximately 49% domestic Korean ATM market share with ~66,000 units installed across 15 countries globally.

Differentiator

Problem solved

Functional benefit

Brands

• ATEC ESL: Electronic Smart Label solutions for retail and industrial applications
• ATEC Mobility
• ATEC System
• ATEC Auto

Products and services

• DD01 Digital Desk Digital Desk enabling high-definition 4K video consultation with banking consultants, biometric authentication, and instant issuance of physical media (check cards, security cards, passbooks). Supports non-face-to-face financial services with digital concierge queue management. Targeted at banks and insurance companies for video teller/counseling.
• LC96 Slim STM Slim Self-Service Teller Machine (STM) designed for existing ATM booth compatibility. Features 32-inch main display, 19-inch customer interface, face recognition, palm vein biometric authentication, and up to 8-denomination bill recycling with check card and passbook issuance. Targeted at banks for branch self-service.
• DS22 Card Management Kiosk Card Management Kiosk providing immediate issuance of all major check cards (up to 300 card types), card replenishment and retrieval, digital inventory management, and automated closing. Features compact 23-inch touchscreen with ergonomic design for accessibility. Targeted at banks for instant card issuance.
• LC24 Cash Recycling ATM Cash Recycling ATM with optimized cash cassette configurations, real-time cash inventory management, anti-skimming sensors with jamming signal transmission, and streamlined passbook and card slot layout with bright lighting to reduce non-receipt incidents. Targeted at banks for self-service banking.
• LC50 Currency Exchange ATM Currency Exchange ATM enabling multi-currency deposit and withdrawal transactions for financial institutions and retail environments. Targeted at banks, currency exchange operators, and tourist retail locations.
• LC90 Smart ATM Smart ATM offering enhanced automation features for branch banking operations. Targeted at banks seeking advanced self-service capabilities.
• RC95 Back Office Cash Recycler Back Office Cash Recycler for retail stores providing real-time cash management, daily closing, and settlement with 23-inch touchscreen UI/UX. Supports up to 8 denominations of bill recycling, check/gift certificate processing, and mixed coin deposit by denomination. Equipped with counterfeit detection and device permission control. Targeted at large retail chains and department stores.
• RC93 Back Office Cash Recycler Medium-sized Back Office Cash Recycler for retail environments with real-time cash management, daily closing, and settlement. Features 15-inch high-sensitivity touchscreen, removable sidecar modules for easy maintenance, and supports bill, gift certificate, coin deposit, and envelope processing. Targeted at retail stores needing compact cash management.
• RC91 Back Office Cash Recycler (Large) Large Back Office Cash Recycler for retail with 23-inch high-sensitivity touchscreen. Proven domestic technology with independently developed localization for bills, gift certificates, coins, and checks processing in distribution environments. Targeted at large retailers like Hyundai Department Store.
• RC23C Self-Checkout Terminal Self-service checkout settlement terminal for unmanned retail stores, enabling self-payment functionality. Targeted at unmanned retail environments and convenience stores.
• LC01 Cash Dispenser (CD) Cash Dispenser (CD) for basic cash withdrawal functionality in retail environments. Targeted at retail stores needing simple cash dispensing capability.
• LC21 Cash Recycling ATM (Retail) Cash Recycling ATM for retail with smart cash management functions, anti-skimming features, and optimized media slot design. Compact form factor with maintenance self-diagnostics. Targeted at retail chains and distribution operators.
• LC23 Smart Slim ATM Smart Slim ATM with ultra-compact design (450x650x1465 mm), non-face-to-face authentication, biometric and video consultation options, A4 scanning and printing, and card/bankbook/lottery issuance. Equipped with high-speed, high-precision bill recognition and counterfeit currency identification with machine learning image storage. Targeted at retail and small-footprint branch locations.
• LTA-450 Teller Cash Recycler Teller Cash Recycler (TCR) for banks and retail stores providing continuous deposit/withdrawal, large-capacity multi-denomination cash cassettes, counterfeit/damaged bill detection, serial number recognition, and daily settlement without vault access. Maximum 12 denominations recycling with 22,800-sheet deposit capacity. Targeted at international banks and large retailers.
• T1 (LTA-100) Teller Cash Recycler Compact Teller Cash Recycler with up to 6 denominations and 9,550-sheet bill recycling, fast transaction speed (10 notes/second), 7-inch foldable touchscreen, space-efficient under-desk installation, multi-user simultaneous operation, and international standard vault. Supplied to Halyk Bank (Kazakhstan) and Truist Bank (USA). Targeted at international banks for branch teller operations.
• LC70/71 Multi-Functional ATM Multi-Functional ATM for overseas markets, combining cash deposit/withdrawal, coin processing, and check scanning in a single unit. LC71 selected as Korea's Next-Generation World-Class Product and holds 95%+ VTM market share in Portugal. Targeted at international banks, digital banks (Revolut), and EMEA markets.
• ESL (Electronic Shelf Label) Solution Electronic Shelf Label solution providing digital price tag management for retail and industrial environments. Operated through subsidiary ATEC IOT (ateciot.com). Enables automated price updates and inventory management for smart store applications. Targeted at retail chains such as E-Mart (deployed in 108 stores).
• Service Infra Solution Nationwide maintenance and support infrastructure including TIMS (Total Information Management System) for real-time service request management and engineer SMS dispatch, NMS (Network Monitoring System) for device monitoring, mobile technician app (mTIMS), and managed service operations across South Korea. Targeted at all ATEC hardware customers.

Quantifiable outcome

• 95%+ market share in Portugal VTM market with LC71 product
• +2 more outcomes

Named customers13 records

Segments3 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability10 records

Feature6 records

Partnerships

Seven partnerships are on record, tiered key, strategic, core and minor.

• RevolutkeyStrategic or Co-development Partner · 1 January 2025ATM supply partnership with Europe's largest digital bank in 2025. ATEC provides multi-functional ATM solutions to support Revolut's branch expansion needs.
• Halyk BankkeyStrategic or Co-development Partner · 1 January 2024TCR (Teller Cash Recycler) supply partnership with Kazakhstan's largest bank. ATEC's LTA-100 TCR entered Halyk Bank for teller cash automation.
• 강원랜드 (Kangwon Land)strategicStrategic or Co-development Partner · 1 January 2023Joint development partnership signed April 2023 for casino slot machine ticket ATM localization. ATEC to develop domestic ticket ATM with anti-counterfeiting technology to replace imported equipment (currently ~80 million KRW per unit). Covers domestic and potential overseas sales.
• Cisco Systems KoreacoreTechnology or Integration · 30 May 2022Strategic MOU signed in May 2022 for joint development of Digi-tact (Digital Contact) video consultation system for financial institutions. Cisco provides collaboration solutions, video conferencing equipment, and contact center solutions. ATEC provides hardware platform and financial domain expertise. Joint development of solutions for financial and retail digital transformation. Plans for Cisco Ecosystem Partner registration and 'Powered By Cisco' branding for global market expansion.
• ACG (American Cash Group)keyChannel Partner/ Reseller/ Distributor · 1 January 2021US market distribution partnership for TCR products. ACG operates as a distributor and warehouse partner covering USA, Canada, and Mexico. Provides repair services, parts sales, and sales support for ATEC products in North American market.
• Glory (Japan)minorChannel Partner/ Reseller/ Distributor · 1 January 2019Distributor partnership with Glory of Japan for Japanese market distribution, established 2019.
• NCR ChinaminorStrategic or Co-development Partner · 1 January 2010Strategic alliance with NCR China for cash recycling ATM market development, established 2010.

Scale indicators8 records

Recent moves11 records

Expansion highlights3 records

Broad incumbents

• Hitachi Channel Solutions: Hitachi division manufacturing ATMs and cash handling equipment including the ATM-Jet series. Directly competes with ATEC's overseas ATM product family (LC71, E3, E7, C3L) in international banking tenders.
• Diebold Nixdorf: Global leader in banking self-service hardware including ATMs and TCR/cash recyclers. Competes directly with ATEC in Americas and EMEA markets and serves many of the same Tier-1 banking customers (Truist, major European banks).
• NCR Corporation: Global ATM and banking hardware leader (NCR Atleos spinoff) with worldwide installed base across banks and retailers. Direct comparable on cash recycling ATM and TCR technology that competes head-to-head with ATEC's LC-series and LTA-series product lines.

Others

• De La Rue: UK-based manufacturer of banknote handling, authentication, and cash processing equipment. Adjacent overlap on cash handling/counterfeit detection (ATEC's GBA-100K, UW-F4) and broader financial automation footprint for central/commercial banks.

Direct peers

• Glory Global Solutions: Japanese-headquartered global leader in cash handling and recycling technology including TCRs, retail cash recyclers, and banknote sorters. ATEC already partners with Glory for Japan distribution, and Glory directly overlaps ATEC's RC-series retail cash recyclers and LTA TCR products.
• Hyosung TNS (Nautilus Hyosung): Korea's largest ATM manufacturer and ATEC's primary domestic competitor; supplies ATMs and TCRs to Korean banks and US financial institutions. Highly comparable in product mix and customer base — the most direct Korean ATM peer for market-share analysis.
• GRG Banking Equipment: China-based ATM and financial self-service equipment manufacturer with global installed base across Asia, EMEA, and Americas. Competes with ATEC on price-sensitive cash recycling ATM tenders and TCR deployments internationally.
• OKI Electric Industry: Japanese ATM manufacturer (OKI ATM-Jet) supplying Japanese banks and ATMs internationally. Comparable in cash recycling technology and ATM hardware product family; competes for global banking self-service contracts in similar segments to ATEC.

Regional players

• Toshiba Infrastructure Systems: Japanese ATM and banking automation manufacturer. Historically direct ATM hardware competitor; comparable product family (recycling ATMs, TCRs) targeting financial institutions in Asia and select international markets.
• Fujitsu Frontech: Japanese ATM and cash recycler manufacturer serving Asia-Pacific banks. Comparable product technology (cash recycling ATMs and TCRs) and overlap with ATEC in Asian financial institution tenders.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@atecap2018
• LinkedInlinkedin.com/company/atec-usa

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ATEC