346 Million USD Contracts Signed by Yongin Region SMEs Participating in 'MWC 2024'

Achieved Results by Participating in 4 Exhibitions Supported by Yongin City
"Eastern Europe Pioneer Group Also Plans to Attend Thailand Food Exhibition"

Four small and medium-sized enterprises (SMEs) from the Yongin area in Gyeonggi Province participating in the 'Mobile World Congress (MWC) 2024' achieved export contracts worth $3.46 million (approximately 4.6 billion KRW) through the exhibition.

Yongin City announced on the 6th that the four local SMEs participating in the Yongin City joint pavilion during MWC 2024 held last month in Barcelona, Spain, are currently in the process of concluding contracts worth $3.46 million through consultations with local buyers totaling $6.51 million.

The four companies?EmotionWave Co., Ltd., TeamPlayer, ActionTech Co., Ltd., and NDS Solution Co., Ltd.?participated through the Yongin City joint pavilion supported by the city from the 26th to the 29th of last month (local time) at 'MWC 2024.'

Officials from EmotionWave, who set up a booth at the Yongin City joint pavilion at MWC 2024, are demonstrating musical instrument performances using intelligent Internet of Things at the exhibition.
[Photo by Yongin City]

The company with the best results was EmotionWave, located in Sanghyeon-dong, Suji-gu. Utilizing 'AIot (AI of Things)' technology, which refers to intelligent Internet of Things, the company showcased a virtual space instrument performance platform by integrating its AI concert system RIMA with drums. Through consultations worth $3.86 million, it is on the verge of signing contracts worth $2.2 million.

At this exhibition, EmotionWave is also pursuing a memorandum of understanding (MOU) regarding the establishment of a branch with the Barcelona Music Tech Hub and is reportedly conducting practical discussions for joint research with representatives from the University of Oxford in the UK.

TeamPlayer, based in Dongbaek-dong, Giheung-gu, attracted attention with its system for mass transmission of mobile phone messages. The company is negotiating to pilot its product with GetWiFi, which provides communication services throughout Europe, and is advancing contracts worth $450,000 through export discussions (26 cases) totaling $1.38 million.

NDS Solution, located in Yeongdeok-dong, Giheung-gu, introduced a multilingual voice-guided kiosk that received great acclaim from numerous hotel officials across Europe, including Barcelona. The company is progressing contracts worth $110,000 through consultations (15 cases) totaling $440,000.

ActionTech, based in Yangji-myeon, Cheoin-gu, showcased an automatic fire extinguisher that helps with early suppression in case of fire. The company signed a sample purchase contract worth $1,000 with Nigerian company Uno Tels and is on the verge of contracts worth $700,000 through consultations (23 cases) totaling $830,000. Lee Hak-myeon, CEO of ActionTech, said, "It was a meaningful opportunity to meet buyers from around the world in one place and demonstrate our company's competitiveness," adding, "We deeply thank Yongin City for supporting our participation in the exhibition."

Lee Sang-il, Mayor of Yongin (center), who attended MWC 2024, is taking a commemorative photo with representatives of local small and medium-sized enterprises participating in the Yongin City joint pavilion.
[Photo by Yongin City]

Meanwhile, the city dispatched export interns overseas for the first time at this exhibition as part of Mayor Lee Sang-il's pledge in the 8th local government term. These interns assisted Yongin pavilion participating companies with English interpretation and contract-related practical support. The export intern program was prepared through an agreement between the city and Dankook University's Regional Specialized Youth Trade Expert Training Project Group since last year to expand overseas sales channels for local SMEs.

Mayor Lee Sang-il of Yongin said, "At MWC 2024, where companies worldwide showcase cutting-edge technology, our companies achieved remarkable results, marking a step forward in their growth," and added, "We will continue to prepare various export support measures so that SMEs can demonstrate competitiveness on the global stage."

The city plans to provide behind-the-scenes support for SMEs' overseas market entry, including dispatching a market development team to Eastern Europe at the end of March and participating in the Bangkok International Food Exhibition in Thailand in May.