Changwon Startup Gains Momentum in the US

GSF System and Edenlux Win CES 2023 'Innovation Award'

Two startups from Changwon Special City, Gyeongnam, won the 'Innovation Award' at CES 2023 in the United States. From left, Sae-uk Seo, Future Mobility Specialist at Changwon Industry Promotion Agency; Sung-yong Park, CEO of Edenlux Co., Ltd.; Min-seong Seo, CEO of GSF System Co., Ltd.; Geun-hee Park, Head of Future New Industry and Technology Startup Team, Changwon Special City.

[Asia Economy Yeongnam Reporting Headquarters Reporter Song Jong-gu] Changwon Special City in Gyeongnam announced on the 6th that Changwon’s representative startups, GSF System Co., Ltd. and Edenlux Co., Ltd., received Innovation Awards at CES 2023, the world’s largest IT exhibition held in Las Vegas, USA.

The Innovation Award is given by the Consumer Technology Association (CTA), the organizer of CES, to leading innovative technologies and products worldwide. Known as the “highest honor of the International Consumer Electronics Show (CES),” receiving this award greatly aids the growth of startups.

GSF System Co., Ltd., which received the Innovation Award this time, is a company focusing on developing urban smart cultivation systems. This technology can be applied in various ways to urban agriculture, including △smart container farms and △smart vertical farms.

Growing crops in urban areas using existing cultivation systems requires significant energy costs and a long time. However, GSF System has developed a control system that drastically reduces essential cultivation elements such as light intensity and water, possessing unique technological capabilities that solve the problems of existing urban cultivation systems.

In particular, GSF System developed the ‘MineFarm’ showcase product, which combines patented hydroponic technology (Mist Aeroponics), proprietary LED lighting technology, and the Internet of Things (IoT). After planting seeds or sprouts, users can select crops via a dedicated app (APP), which automatically manages temperature, humidity, and lighting (light intensity) based on data until harvest.

This system reduces water usage by 98.8% and LED power consumption by about 55%, and since it produces almost no wastewater discharge, it is expected to attract attention not only in the domestic market but also overseas.

Minseong Seo, CEO of GSF System, said, “From the early stages of our startup, we were able to grow step by step with support from Changwon City, Changwon Industry Promotion Agency, related startup organizations, and investors. Winning this Innovation Award will be a milestone for our vision targeting the U.S. market and a stepping stone for our leap forward.”

Next, Edenlux Co., Ltd., which also received the Innovation Award, is a company providing IoT-based vision care solutions. Established in March 2016 by a Ph.D. engineer and university hospital faculty members, Edenlux developed technology and launched the vision improvement device ‘Otus Plus.’

Otus Plus uses eight special optical lenses inside to automatically adjust the eye’s focus, providing immediate vision recovery effects through repetitive contraction and relaxation of eye muscles. Additionally, using a dedicated app, users can receive detailed personalized eye health management programs by analyzing eye health from multiple angles.

Edenlux achieved sales exceeding 2 billion KRW this year with the Otus Plus product. This success is backed by continuous research and development and in-house production know-how, holding over 33 original patents related to healthcare specialized in ophthalmology across eight countries worldwide. This has allowed Edenlux to accumulate medical optical technology and IoT-based eye health data that latecomers find difficult to replicate.

Edenlux has been recognized for its market potential and corporate promise in the vision care sector, being selected as a ‘Baby Unicorn’ and included in the ‘KOREA AI START UP 100’ this year. Going forward, the company aims to contribute to human eye health by providing optimized solutions through precise eye-related data measurement.

Seongyong Park, CEO of Edenlux, stated, “The global population with vision problems is estimated at 4.5 billion, including 2 billion presbyopia patients, 1.6 billion myopia patients, 260 million strabismus patients, and 560 million cataract patients. As the overseas market size is rapidly increasing, the market value of Otus will be proven at CES 2023, which opened on the 5th, and it will be an opportunity for successful entry into the U.S. market.”

Mayor Hong Nam-pyo said, “I am very pleased that Changwon startups have received the honor of the Innovation Award at the most prestigious international exhibition. We will actively support local startups with technological capabilities and future growth potential to thrive on the global stage by expanding opportunities to participate in overseas exhibitions.”

Meanwhile, since 2019, the city has supported local startups and venture companies’ participation in CES annually, with a total of 24 companies having participated. The 10 companies participating this time are also supported with CES 2023 exhibition fees, airfare, interpretation, and logistics costs.