Yongin City 5 SMEs Secure $1.22 Million Contracts at CES 2022

[Asia Economy (Yongin) = Reporter Lee Young-gyu] Five small and medium-sized enterprises located in Yongin, Gyeonggi Province, participated in the world's largest IT exhibition, 'CES 2022,' achieving contracts worth $1.22 million.

Yongin City announced on the 11th that five companies in the area participated in the '2022 Consumer Electronics Show (CES)' held at the Las Vegas Convention Center in the United States from the 5th to the 7th, signing a total of 75 contracts worth $1.22 million.

The number of consultations reached 133, with an expected additional contract value of $2.9 million.

CES is the world's largest IT exhibition, providing a platform to preview the latest technologies that will lead the future.

This exhibition was held offline for the first time in two years due to COVID-19. Over 2,200 innovative companies from around the world participated, showcasing the latest technologies in various fields such as digital health, food tech, mobility, NFT (Non-Fungible Token), and the metaverse.

Locally, five companies participated: Yuwicom, which develops and manufactures sound amplification devices for hearing-impaired patients; IYEL Co., Ltd., a company developing quantum technology-based encrypted communication; DNX Co., Ltd., which developed an AI customized care system; NextK Co., Ltd., a provider of intelligent video analysis solutions; and DRS Corporation, a manufacturer of air circulation functional mattresses.

Yongin City set up a 'Yongin City Joint Pavilion' within the event venue to support these companies, allowing the five companies to introduce their technologies to buyers from various countries and hold separate investment briefings.

Additionally, the city supported 80% of the booth rental fees and 60% of the equipment costs, as well as one-way sea freight charges and interpreters for each company.

A city official emphasized, "It is important for local companies to gain insights to predict the future by participating in international exhibitions. We will help local companies participate in various overseas exhibitions and support the development of overseas sales channels."