Yongin City Supports Booths, Transportation Fees, and Interpretation
"MWC and Eastern Europe Exploration Team to be Dispatched"
Four small and medium-sized enterprises (SMEs) supported by Yongin City, Gyeonggi Province, which participated in 'CES 2024,' are expected to secure contracts worth $2.46 million (approximately 3.29 billion KRW) locally.
Small and medium-sized enterprise representatives participating in the CES 2024 Yongin City joint pavilion are taking a commemorative photo. [Photo by Yongin City]
Yongin City announced on the 17th that the four SMEs participating in the Yongin City joint pavilion at 'CES 2024,' held from the 9th to 12th (local time) in Las Vegas, Nevada, USA, are currently pursuing contracts worth $2.464 million through consultations totaling $16.805 million with local buyers.
The city set up a Yongin City booth within the integrated Korea Pavilion for the CES 2024 participating companies and supported exhibition booth rental and installation costs, partial one-way transportation fees, on-site equipment rental, and interpretation services.
The companies participating in the CES 2024 Yongin Pavilion this time include Bolt Creation, an optical lens developer; CreaCube, an Internet of Things (IoT) learning tool company; Geuma Co., Ltd., a smart plant cultivator developer; and Choweese Company, a scalp and skin diagnostic solution device company.
CreaCube, located in Gugal-dong, Giheung-gu, is pursuing contracts worth $1.18 million through consultations totaling $2.285 million at this exhibition. The company, which features an IoT-based multiplication cube as its core product, attracted local buyers' interest, including ongoing $1 million consultations with Berrisource, which has a distribution network across Canada and the eastern United States.
Buyers visiting the CREA Cube booth, an IoT educational tool company, at the CES 2024 Yongin City joint pavilion are examining the company's products. [Photo by Yongin City]
This product has been selected as an innovative product by the Public Procurement Service and is currently used as a teaching aid in over 100 public educational institutions. Lee Jeong-ho, CEO of CreaCube, said, "We have been seeking overseas business opportunities where the market size is much larger than domestically, and through networking formed at this exhibition, we have increased the possibility of entering the North and Central American markets."
Bolt Creation, which previously won the Innovation Award in the 'Vehicle Tech & Advanced Mobility' category at this exhibition, is also pursuing contracts worth $230,000 through consultations totaling $8.37 million (29 cases). Bolt Creation, with a factory in Nongseo-dong, Giheung-gu, developed the optical lens 'V-glass' that ensures a clear view even against foreign substances like rainwater by applying microfabrication technology. Domestic and international automobile companies have shown interest, and additional negotiations for product supply are ongoing after the exhibition.
Geuma Co., Ltd. is conducting contracts worth $723,000 through consultations totaling $4.68 million with domestic and foreign investment companies, and Choweese Company is also discussing contracts worth $331,000 through consultations totaling $1.47 million (22 cases) with multinational medical companies based in the Netherlands.
The city plans to steadily expand support for local SMEs’ entry into overseas markets this year. First, in February, Yongin City will organize a joint pavilion for SMEs at the Mobile World Congress (MWC) held in Barcelona, Spain, to support their participation. MWC is considered one of the world's top three electronics exhibitions alongside CES and the Berlin International Consumer Electronics Fair (IFA). In April, a market development delegation will also be dispatched to Eastern European countries such as Poland and Romania.
Lee Sang-il, Mayor of Yongin City, said, "Local SMEs have achieved significant results at this exhibition by leveraging their excellent technological capabilities," adding, "We will continue to prepare various support measures to strengthen the competitiveness of SMEs, which are the backbone of the local economy, in overseas markets."
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