Helping Digital Transformation through Mutual Growth between Mu-hyup, Mid-sized Companies, and Startups

[Asia Economy Reporter Hwang Yoon-joo] The Korea International Trade Association (KITA) held the 'Mid-sized Companies-Startups Digital Transformation (DX) Win-Win Lounge' on the 20th at the COEX Startup Branch.

Co-hosted with the Ministry of Trade, Industry and Energy, the Korea Industrial Intelligence Association, and the Korea Federation of Mid-sized Enterprises, the event was organized to create synergy for discovering new business opportunities through mutual exchange between mid-sized companies and startups, and to accelerate the digital transformation of mid-sized companies.

Prior to the event, KITA, the Industrial Intelligence Association, and the Federation of Mid-sized Enterprises signed a Memorandum of Understanding (MOU) to promote networking among mid-sized companies, startups, and investors, collaborate on discovering new businesses, and support proof of concept (PoC) testing for commercialization.

In the subsequent special lecture, a collaboration case between Hoban Construction (a mid-sized company) and Fluxity (a startup) was introduced. Fluxity is a startup with digital twin technology that models physical world buildings in 3D to simulate and monitor real-life scenarios. Currently, Fluxity and Hoban Construction are actively discussing joint development of next-generation construction site safety management solutions, customer convenience solutions, and golf ball tracking solutions.

During the company presentation (IR) session, Think4Biel (AI-based software engineering), Alt-A (transport infrastructure), iWord Solution (scalable enterprise resource planning (ERP) system), Law&Good (B2B legal platform), and Aol Korea (air purification systems) introduced their products and service models, seeking collaboration opportunities with mid-sized companies.

Lee Dong-gi, Head of the Innovation Growth Division at KITA, said, "Networking among various players such as large corporations, investors, and startups in the startup ecosystem is key to discovering collaboration opportunities," adding, "The association will continue to hold digital transformation (DX) lounges tailored to the win-win needs of companies in cooperation with various related organizations."