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eMARINE Global Signs Three-Year Contract with Hyundai Global Service Co., Ltd. to Supply Marine IoT Platform

February 11, 2019

SEOUL, SOUTH KOREA, Feb. 11, 2019 (GLOBE NEWSWIRE) -- eMARINE Global, Inc. (OTC: EMRN), a leading provider of information and communications technology for the maritime industry, is pleased to announce it secured a three-year contract with Hyundai Global Service Co., Ltd., a spin-off of Hyundai Heavy Industries, to supply the Company’s Marine Internet-of-Things (IoT) platform for more than 1,000 ships now in operation at sea.

“This is another major win for eMarine Global and our role in the Fourth Industrial Revolution,” stated Ung Gyu Kim, Chairman and CEO. “Having our innovative and proprietary technology retrofitted into more than 1,000 vessels currently in operation, places us in an ideal position for long-term success and market leadership.”

eMarine Global’s newly developed Marine IoT platform will enable Hyundai to remotely monitor the real-time operation of its ships, providing the necessary data to drive proactive and pre-emptive repair and maintenance decisions, ultimately leading to more efficient operations.

The Company has also secured contracts to develop smart-ship solutions, including voyage optimization, engine status monitoring, and remote monitoring, for Hyundai’s new-build vessels.

“While we continue to gain traction with Hyundai and other leading customers, we are still in the early stages of a long-term opportunity. We are pleased to see positive progress in merger negotiations between Hyundai Heavy Industries and Daewoo, the number one and two largest shipbuilders globally, and we very much look forward to a potential opportunity to extend our technology implementations to Daewoo’s sizeable fleet,” continued Ung Gyu Kim.

Founded in 2001 and based in South Korea, eMARINE Global is working with a growing base of marquee customers to achieve maritime ICT convergence through fully integrated products and services, offering state-of-the-art e-navigation, marine Internet of Things (IoT), and marine big data solutions, primarily in Korea with near-term expansion into U.S. and Chinese markets.

eMARINE Global’s customer base includes Hyundai Heavy Industries, Samsung Heavy Industries, and SAAB.

About eMARINE Global, Inc.

eMARINE is a provider of information and communications technology in the maritime industry. Specifically, eMARINE provides solutions for collection, integration and display of maritime information abroad and ashore by electronic means to enhance berth to berth navigation and related services. These solutions provide the most efficient means to secure the safety of life at sea and to protect the marine environment. All products and services are offered through subscription, installation, updates and/or maintenance contracts.

Forward-Looking Statements

Statements preceded by, followed by, or that otherwise include the words “believe”, “anticipate”, “estimate”, “expect”, “intend”, “plan”, “project”, “prospects”, “outlook”, and similar words or expressions, or future or conditional verbs such as “will”, “should”, “would”, “may”, and “could” are generally forward-looking in nature and not historical facts.

These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any anticipated results, performance, or achievements. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise.

Contact:

Dave GentryRedChip Companies407-644-4256, ext. 104dave@redchip.com

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