[MoneyS] Yong-in Special City Achieves $3.46 Million Contract Results for 4 SMEs at MWC2024

Mayor Lee Sang-il of Yong-in Free Economic Zone is taking a commemorative photo with representatives from participating companies of the Yong-in Pavilion at MWC2024, held in Barcelona, Spain from the 26th to the 29th of last month. [Photo provided by Yong-in Free Economic Zone]

Yong-in Special City (Mayor Lee Sang-il) announced on the 6th that four SMEs, including Emotion Wave Co., Ltd., participated in the ‘MWC (Mobile World Congress) 2024’ Yong-in Joint Pavilion, engaging in consultations worth $6.51 million with local buyers, resulting in contracts worth $3.46 million.

The world’s largest information and communication technology exhibition, ‘MWC 2024,’ held in Barcelona, Spain from the 26th to the 29th of last month, showcased cutting-edge technologies, allowing global companies to compete. SMEs such as Emotion Wave Co., Ltd., Team Player, Action Tech Co., Ltd., and Endi&S Solutions Co., Ltd., demonstrated their distinctive technologies and achieved remarkable results.

Emotion Wave Co., Ltd., located in Sanghyeon-dong, Suji-gu, attracted attention with its AIot (AI of Things) technology, integrating AI technologies such as intelligent IoT into its AI concert system, RIMA, enabling virtual space musical instrument platforms, and conducted consultations worth $3.86 million (26 cases), with pending contracts worth $2.2 million, achieving the highest performance among the participating companies in the Yong-in Pavilion.

Emotion Wave Co., Ltd. is currently pursuing an MOU with the Barcelona Music Tech Hub and discussions with representatives from the University of Oxford in the UK for joint research.

Team Player, located in Dongbaek-dong, Giheung-gu, received significant interest with its system for bulk SMS transmission, attracting discussions worth $1.38 million (26 cases), and is progressing towards contracts worth $450,000. They are in talks with GetWiFi, a telecommunications service provider across Europe, for pilot product applications.

Endi&S Solutions Co., Ltd., located in Yeongdeok-dong, Giheung-gu, presented kiosks that provide multilingual voice guidance, receiving favorable responses from numerous hoteliers across Europe, including Barcelona. They are currently undergoing consultations worth $440,000 (15 cases), with contracts worth $110,000 in progress.

Action Tech Co., Ltd., located in Yangji-myeon, Cheoin-gu, showcased an automatic fire suppression system, attracting interest from Nigerian company Uno Tels for a $1,000 sample purchase contract. They are engaged in consultations worth $830,000 (23 cases), with contracts worth $700,000 in progress. After the exhibition, they plan to meet with Althen, a company from the Netherlands, in Amsterdam for further discussions.

The CEO of Action Tech Co., Ltd., located in Ihak-myeon, expressed gratitude to Yong-in City for providing the best support, stating that the exhibition was a meaningful opportunity to showcase the company’s competitiveness to buyers from around the world.

As part of Mayor Lee Sang-il’s 8th administration’s promise, Yong-in City dispatched export interns for the first time at this exhibition to provide English interpretation and practical support for contract-related matters to participating companies in the Yong-in Pavilion.

Kim Won-cheol, CEO of Team Player, attributed the success of the exhibition to the export intern provided by the city, describing them as having provided expert-level assistance with a proactive attitude in serving as a liaison with local buyers.

One export intern dispatched to this exhibition expressed enthusiasm for witnessing local companies competing with global advanced technology companies and expressed happiness for being able to participate in such a significant event, which may contribute even slightly to the overseas market expansion of the companies.

Mayor Lee Sang-il stated that the remarkable achievements of our companies at the MWC 2024, where global companies showcase advanced technology, seem to be an opportunity for our companies to grow. He expressed the city’s commitment to continue developing various export support measures to enable SMEs to demonstrate their competitiveness on the international stage.

The city plans to dispatch an Eastern Europe market exploration team at the end of March and participate in the Bangkok International Food Exhibition in May to provide underground support for SMEs’ overseas market entry.

[Original article]