One in Four CES Innovation Awards is 'Made in Korea'... "4.4%P Increase in One Year"

[Asia Economy Reporter Jeong Hyunjin] As Korean companies actively pursue digital innovation in response to the novel coronavirus disease (COVID-19), the proportion of Korean products winning Innovation Awards at this year's International Consumer Electronics Show (CES) has increased, with one out of every four awarded products being Korean-made.

According to data released on the 26th by the Korea International Trade Association's International Trade and Commerce Research Institute, 101 Korean products were selected as the most innovative among the products exhibited at this year's show and received CES Innovation Awards, accounting for 26.2% of the total 386 awarded products. Although the number of awarded products remained the same as the previous year, the total number of awarded products decreased from 464 to 386, resulting in an increase in the proportion of Korean products receiving Innovation Awards from 21.8% last year to 26.2%, up by 4.4 percentage points.

Among the highest Innovation Awards, which were given to only 27 products this year, 7 (25.9%) were Korean products. This is an increase of one from last year's 6, and the proportion of Korean products receiving the highest Innovation Awards rose from 19.4% last year to 25.9%, an increase of 6.5 percentage points.

The products awarded Innovation Awards this year were categorized by field as follows: Health & Wellness (45 products), Smart Home (33 products), and Sustainability, Eco-friendly Design & Smart Energy (22 products). Among the awarded Korean products, Health & Wellness led with 13 products, followed by Smart Home (6 products) and Sustainability (5 products). Among these, products from small and medium-sized enterprises (SMEs) and mid-sized companies accounted for 11, 6, and 2 products respectively.

Park Gahyeon, Senior Researcher at the Korea International Trade Association, stated, "This year, despite the exhibition being held entirely online due to COVID-19 and the number of participating companies shrinking to 1,961, less than half of last year's 4,400 companies, the proportion of Korean products winning Innovation Awards actually increased, showing remarkable achievements. The digitalization of our daily lives will accelerate even further in the future."