MWC2023 Hosts Integrated Korea Pavilion
"Utilizing National Brand Power for Corporate Promotion"
"Supporting Management Consulting through Local Agency Collaboration"
[Barcelona=Asia Economy Reporter Oh Su-yeon] "Many buyers perceive that there are innovative companies in the Korea Pavilion. We created a booth in the Korea Pavilion because we can work under the Korean brand. (Lee Hyung-kyu, Inkul Strategy Institute)"
The Korea Trade-Investment Promotion Agency (KOTRA) took the lead in promoting exports and attracting investment for Korean companies at the Mobile World Congress (MWC) 2023.
The integrated Korean Pavilion of KOTRA at MWC2023 held in Barcelona, Spain, on the 28th of last month (local time). [Photo by KOTRA]
On the 28th of last month (local time), the integrated Korea Pavilion of KOTRA was visited at MWC held in Barcelona, Spain.
Located in Hall 7, the integrated Korea Pavilion prominently displayed the Taegeuk mark and the 'KOREA' logo, catching attention from afar. People from various countries were carefully reviewing materials introducing Korean companies and asking questions. At the booths of participating companies, representatives were consulting with overseas buyers and investors.
MWC is considered one of the world's top three advanced technology exhibitions alongside the Consumer Electronics Show (CES) and the Berlin International Consumer Electronics Fair (IFA). In a situation where exports have sharply declined after COVID-19, this event is vital for small and medium-sized enterprises (SMEs) and startups. This is why KOTRA sets up a large-scale booth to support SMEs and startups. Since 2009, KOTRA has opened the Korea Pavilion at MWC for 14 consecutive years. This year, a total of 76 companies participated. Since 2019, KOTRA has formed an integrated Korea Pavilion together with the Korea Information and Communication Technology Industry Association and Daegu Technopark to promote 'Made in Korea' to the world.
Jung Won-jun, head of KOTRA’s Exhibition and Convention Division, said, "There are many small companies in Korea with excellent technological capabilities, but it is difficult for individual companies to promote themselves alone." He explained, "We need to utilize the national brand power as a promotional point for companies and enhance synergy effects with local governments and related organizations."
The effect of the integrated Korea Pavilion is considerable. A Pepsi representative, passing by the integrated Korea Pavilion, saw an interactive media demo by the exhibiting company Moment and, putting aside urgent matters, proposed a meeting with the marketing department. In addition, several global venture capitalists (VCs) expressed investment intentions and requested meetings.
The responses from participating companies are also positive. WATTA, a provider of AI logistics disaster management platforms, has participated in the Korea Pavilion for three years. Kim Kyung-sik, CEO of WATTA, said, "This morning, we signed contracts with companies from Poland and Germany. It is difficult for small companies to prepare for this, but by confirming buyer demand in advance and matching them, contract success is easier. We are about to launch a new platform and hope to expand our business through European partnerships."
Lee Hyung-kyu of Inkul Strategy Institute said, "Many buyers perceive that there are innovative companies in the Korea Pavilion. We can work under the Korean brand," adding, "Currently, 40 to 50 parties have requested company materials, and we expect to build export references directly through MWC."
Emgram, launching a smart global tourist taxi reservation service platform, is negotiating platform adoption with Turkish buyers and overseas tourists in Istanbul through MWC.
The integrated Korean Pavilion of KOTRA at MWC2023 held in Barcelona, Spain, on the 28th of last month (local time). [Photo by KOTRA]
On the day, buyers visiting the Korea Pavilion included TBKIDS, Unknown Group, and Yukatechnology. Carlos Alberto Canziani, CEO of Yukatechnology, said, "We are signing a one-year exclusive contract MOU with Dobi Computing in Spain this time," adding, "Korea has many innovative products, so we participate in MWC every year and visit the Korea Pavilion."
On the 1st, a corporate presentation (IR) pitching event was held with 12 Korean startups participating. About 100 major European investors, including Deloitte and Kaisha Bank, attended. This was possible not only through internal cooperation but also by actively utilizing external accelerators and startup-related organizations. In particular, local specialized institutions provided pitching training to domestic companies in advance and used their networks to invite venture capitalists (VCs).
KOTRA conducted pitching training for startup companies in advance. A representative from Petnow said, "We learned the secrets to making a strong impression in a short time and how to pitch in English to non-English-speaking countries," adding, "Although biometric recognition for pets is an unfamiliar technology, it was successful enough that most of the brochures prepared were sold out by the middle of the exhibition due to higher-than-expected interest."
Follow-up online consultation meetings will also be promoted after MWC. KOTRA President Yoo Jung-yeol said, "We held a corporate grievance meeting for MWC participating companies," adding, "We plan to support management consulting related to overseas certification, legal, accounting, and patents in cooperation with local related organizations."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
