Seoul, Korea – July 28, 2022

Zigbang, a leading South Korean proptech company, announced Thursday that it has completed the acquisition of Samsung SDS’s home IoT business, marking its official entry into the smart home market.

Zigbang finalized the acquisition of Samsung’s home IoT operations in Korea and China on July 27.

The deal includes Samsung’s smart door locks, wall pads, and lobby intercoms—core product lines that have long led the domestic smart home market. In tandem with the acquisition, Zigbang established a dedicated Smart Home Division to oversee the development and sales of these products.

Samsung’s home IoT business had generated over KRW 100 billion ($76 million) in annual revenue, driven by its advanced technology and dominance in the domestic market. Its “push-pull” smart door locks, launched in 2004, have maintained the top market share in Korea. The cloud-based wall pads, which gained traction after 2015, have become key offerings in large-scale residential developments. A new version of the lobby intercom with remote video call features is also in development.

Zigbang said it plans to ramp up marketing and expand global distribution, especially in China and new overseas markets, while also increasing its consumer brand visibility through digital channels.

“We’re excited to take our first step into the smart home market through the acquisition of Samsung’s smart home products,” said CEO Ahn Sung-woo. “This marks the beginning of our effort to build a stronger Zigbang identity in the space through integration and innovation.”