Myvelo Co., Ltd. is a company specialized in production of electric bicycle and electric wheelchair. Myvelo Co., Ltd. has carried out the rent and sales of electric bicycle as a main business since its establishment in February 2015 in Jeju. Since 2017, the company had interested in the development of electric wheelchair for the elderly and the disabled, and completed developing its own model of electric wheelchair for the first time in 2018 after a year and half of research and development.

We established manufacturing and production line (approximately 1,000 pyeong of manufacturing plant building) in Yulchon Free Trade Zone in Suncheon, Jeollanam-do in October 2018 with the aim of producing and selling electric bicycle and electric wheelchair made in Korea. Now we have the infrastructure available to produce 20,000 electric bicycles and 10,000 electric wheelchairs (annual) per year as of 2019.

In regard with electric bicycle, the European Union imposed anti-dumping tariff of up to 83.6% on electric bicycle made in China from July 2018 and the price of electric bicycle made in China has been decreased. On the other hand, it is a good business opportunity for Korea to secure global market shares through electric bicycles made in Korea due to FTA (Free Trade Agreement) (0% of tariff) for Korea-Europe and Korea-North America.

In regard with electric wheelchair, it is expected that the silver mobility market will be expanded and increased due to the consideration for the socially disadvantaged, welfare policies and aging society. Myvelo Co., Ltd. will be active in the global market with both the pride and responsibility of electric bicycle and electric wheelchair.