KOTRA Holds 'Korea ICT Innovation Plaza' in Shenzhen, China

At the ICT Forum, Prospects for Global Value Chain Restructuring and Industry-Specific Solutions Utilizing 5G Discussed

KOTRA held the "Korea-China ICT Innovation Plaza in Shenzhen" for three days starting from the 27th in both Korea and China. On the 29th, Korean participating companies were engaged in online business discussions during a video consultation held at COEX, Samseong-dong, Seoul. (Photo by KOTRA)

[Asia Economy Reporter Kim Ji-hee] KOTRA announced on the 30th that it held the 'Korea ICT Innovation Plaza' in Shenzhen, China, in collaboration with the Ministry of Science and ICT for three days starting from the 27th. A total of 45 Korean small and medium-sized enterprises and mid-sized companies, along with 94 large Chinese smartphone manufacturers and startups, participated.

Recently, the Chinese ICT market has become a new opportunity for Korean companies. As of September, Korea's ICT exports to China increased by 5.6% compared to the same month last year. Notably, exports in the semiconductor sector rose by 11.9%, raising expectations.

In particular, Shenzhen is a representative innovation city in China, home to headquarters and partners of global ICT companies such as Vivo, Oppo, Tencent, Huawei, and BYD. Considering China's new SoC policy that increases investment in 5G and AI sectors, it is expected to become the center of Korea-China cooperation in the future.

At the Korea-China ICT Forum held on the 27th, the two countries discussed various topics including the reorganization of the global value chain due to changes in the international situation such as COVID-19, industry-specific solutions utilizing 5G, and future business opportunities. Additionally, during the three-day video consultation sessions held until the 29th, many global semiconductor and robot manufacturers, including major Chinese smartphone companies Vivo and Oppo, as well as Hanslaser, participated. Companies from both countries discussed cooperation related to 5G, AI, and system semiconductors.

Park Han-jin, head of KOTRA's China regional office, said, "China is rapidly growing not only in basic innovative technologies but also in the digital economy sector that applies these technologies," adding, "We will spare no effort to support our companies locally so that they can find new opportunities in the Chinese ICT industry."