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Highlights

  • X2M awarded A$3 million contract by the City of Seoul for delivery of 100,000 IoT-connected safety devices.

  • Project part of Seoul’s 2025 Smart City public safety initiative, with potential scale-up to 1 million units.

  • Devices to integrate with existing emergency platforms, supporting real-time response systems.

X2M Connect Limited (ASX:X2M) shares surged over 31% to 2.5 cents on Monday, 23 June 2025, after announcing it has secured an approximately A$3 million public safety contract with the City of Seoul. The agreement will see X2M supply 100,000 smart personal safety devices, known as “Help Me,” as part of Seoul’s 2025 Smart City initiative aimed at enhancing urban safety.

Contract to Support Seoul’s Public Safety Agenda

The project is scheduled for completion by December 2025. Under the terms, X2M will deliver the core technology behind Seoul’s Internet of Things (IoT) Portable Safety Alarm Project. The “Help Me” devices, which are compact, rechargeable IoT-enabled keychains, will be distributed by the Seoul Metropolitan Government to support emergency responsiveness for women and vulnerable populations.

These safety devices will be integrated with Seoul’s existing smart city infrastructure, including CCTV networks, the Ansimi mobile app, and emergency response platforms. When activated, the devices transmit the user’s location in real-time and alert emergency services, enabling rapid intervention through connected control centres.

Scalable Potential and Future Market Expansion

This initial deployment of 100,000 units is set to be distributed free of charge. The initiative has potential to scale to 1 million devices, providing a significant long-term commercial opportunity for X2M with both municipal and national government clients.

The company views this project as a platform for broader international growth, including planned expansion into the Australian public safety sector. According to X2M, the mandate could also serve as a blueprint for similar programs in urban areas prioritising digital transformation and public safety.

Strategic Fit with X2M’s IoT and Smart City Vision

X2M’s CEO, Mohan Jesudason, said the contract reflects the company's efforts to deepen its presence in South Korea while showcasing its role in supporting the transition to smart city ecosystems. The CEO highlighted that the project exemplifies the growing demand for integrated safety and IoT solutions in urban environments and could lead to further government-backed partnerships.

The project aligns with X2M’s broader strategy to digitise infrastructure by providing real-time connectivity across utilities and public safety sectors. The company's core technology enables remote control and data exchange between utility devices, contributing to its software-as-a-service (SaaS) revenue stream.

Positioned for FY2026 and Beyond

With more than half a million devices already connected to its IoT platform, X2M is actively expanding its geographic footprint across Asia-Pacific and the Middle East. The Seoul contract, along with recent contract wins, is expected to provide momentum as the company enters the 2026 financial year.