Busan-based Companies Expand Global Networks During CES 2024
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□ The city of Busan and the Busan Economic Promotion Agency (BEPA) have announced that 13 of the companies participating in the Busan Metropolitan City Pavilion held 290 export consultations at CES 2024 (Consumer Electronics Show 2024) in Las Vegas, USA from January 9 to 12, 2024.
○ Busan and BEPA supported 12 of those companies, who held a total of 265 export consultations, while the winner of the CES Innovation Award, KOAI, held 25 export consultations. These achievements are expected to lead to the actual exporting of various products.
□ Twohands Interactive Inc. of Busan, an AR-based digital exercise platform, is among the 24 participating companies at CES. They entered into a contract (one unit: 12,000 USD) with a Mexican buyer on the spot with planned consultations for additional exports. O2 LAB, which sells smart functional insoles, sold all its PR products at the event and is in negotiations with a US buyer for further exports. The popularity of Busan-based companies’ technological capabilities could be clearly seen through the enthusiastic interest of buyers.
○ ZIM Corp., maker of the Mogabi travel guitar, put on a live performance in the Busan Pavilion with a US YouTuber and singer to attract interest in Busan’s companies and to let buyers know about the technological capabilities and characteristics of the featured companies.
□ The Busan companies participating at CES 2024 held various consultations with foreign buyers, publicized their technological prowess, and expanded their global networks.
○ CALAB, makers of a micro-water purifier, discussed 350,000 USD worth of product distribution and collaborations with global corporations, including 3M and Amway. JK Teck (border LCD) held export consultations with buyers from the US, Europe, and Australia, which is projected to result in exports of over 30 billion KRW a year.
○ Good Health Innotek (self-diagnostic devices for respiratory functions,) held consultations with US, Indian, and Italian companies through an agent. Overseas buyers also paid great attention to the autonomous collaboration yard tractor system developed by Total Soft Bank, makers of port transfer equipment.
○ LIGHTSTAR (electricity meter) held talks on electric vehicle products worth 410,000 USD, and Signlab, makers of an autonomous driving-multifunctional farm robot, held talks with US and European buyers for 160,000 USD worth of contracts.
○ JEICO (industrial wireless remote control) held consultations on product sales worth 7 billion USD with Korean and foreign companies. SCENTPRO (smart diffuser system) held talks on export contracts with Korean cosmetics companies and US home shopping companies.
○ Zim Corp. (Mogabi travel guitar) consulted with buyers from the US, Europe, and Asia regarding product sales, and SOO Co., Ltd. held consultations on 2 billion USD worth of contracts with domestic and foreign companies.
○ KOAI Co., Ltd. (unmanned marine pollutants collection robot) held talks with foreign buyers on 2.3 million USD worth of contracts and also had consultations with Korean public agencies.
□ The Busan City delegation at CES 2024, led by Busan Vice Mayor for Economic Affairs Kim Gwang-hoe, actively engaged in PR and support for the companies participating in the Busan Pavilion and in the planning for future strategic industries.
○ The delegation visited the Eureka Pavilion, the Local Government Pavilion, the National Pavilion, and the Global Pavilion. They encountered state-of-the-art technologies and discussed support for Busan companies with representatives from the 24 participating companies at CES.
○ They also met officials from the Korean Chamber of Commerce in Nevada and held an economic meeting to discuss measures for promoting various business relationships with Busan companies. The delegation also met with LG CNS’ CEO to discuss the shaping of Busan’s smart city and smart technology development and dissemination.
□ The city of Busan and BEPA plan to host a CES 2024 Achievement Sharing Meeting in February to share the participating companies’ achievements and experiences and invite relevant experts to introduce the cutting-edge technology trends showcased at CES 2024.
