[Asiae] ‘MWC 2024' Participation: Yong-in Local SMEs Secure Contracts Worth 346 Million Dollars

• Participation of Four Companies Supported by Yong-in City Results in Success at Exhibition
• “Exploratory Missions to Eastern Europe and Participation in Bangkok International Food Exhibition Planned”

Four local small and medium-sized enterprises (SMEs) from Yong-in, Gyeonggi Province, secured export contracts worth 346 million dollars (approximately 46 billion won) through their participation in the ‘Mobile World Congress (MWC) 2024’.

Yong-in City announced on the 6th that four local SMEs, which participated in the Yong-in City joint booth at MWC 2024 held in Barcelona, Spain last month, are in the process of signing contracts worth 346 million dollars through consultations with local buyers totaling 6.51 million dollars.

The ‘MWC 2024’, held from the 26th to the 29th of last month (local time), saw the participation of four companies, including Emotion Wave Co., Ltd., Team Player, Action Tech Co., Ltd., and NDS Solution Co., Ltd., supported by the city.

Representatives from Emotion Wave, who set up a booth at the ‘MWC 2024’ Yong-in City Pavilion, are showcasing instrument playing utilizing artificial intelligence in the exhibition. [Photo provided by Yongin City]

The company with the most outstanding performance is Emotion Wave, located in Sanghyeon-dong, Suji-gu. The company showcased its virtual space instrument playing platform by integrating RIMA, an artificial intelligence concert system, with drums, utilizing technologies such as ‘AIot (AI of Things)’ for intelligent IoT. They are in the process of signing contracts worth 220 million dollars through consultations worth 386 million dollars.

Emotion Wave is also known to be pursuing an agreement (MOU) to establish a branch at the Barcelona Music Tech Hub and is engaged in practical discussions with officials from the University of Oxford in the UK for joint research.

Team Player, located in Dongbaek-dong, Giheung-gu, attracted attention with its system for mass transmission of mobile phone messages. The company is engaged in discussions for exports worth 1.38 million dollars (26 cases) and is pushing for contracts worth 450,000 dollars.

NDS Solution, located in Yeongdeok-dong, Giheung-gu, received great responses from European hoteliers by introducing kiosks that provide multilingual voice guidance. The company is currently in the process of signing contracts worth 110,000 dollars through consultations worth 440,000 dollars.

Action Tech, located in Yangji-myeon, Cheoin-gu, presented automatic fire extinguishers to assist in early fire suppression and is negotiating a sample purchase contract worth 1,000 dollars with Nigerian company Uno Tels. They are also in discussions for exports worth 830,000 dollars (23 cases) and are progressing towards contracts worth 700,000 dollars. The CEO of Action Tech, located in Ihak-myeon, expressed gratitude to Yong-in City for supporting their participation in the exhibition, saying, “It was a significant opportunity for companies to showcase their competitiveness to buyers from around the world.”

Mayor Lee Sang-il, attending the MWC 2024, is taking a commemorative photo with local small and medium-sized enterprise representatives who participated in the Yong-in City Pavilion. [Photo provided by Yong-in City]

Meanwhile, as part of the promise made by Mayor Lee Sang-il of the 8th term to support exports, an export intern was dispatched abroad for the first time at this exhibition to provide English interpretation and practical support for contract-related matters to companies participating in the Yong-in booth. Since last year, the city has been preparing for this by signing an agreement with the Regional Specialized Youth Trade Experts Team at Dankook University.

Mayor Lee Sang-il commented, “It seems that our companies have made significant progress at the ‘MWC 2024’, where companies from around the world showcase advanced technology, and I will continue to prepare various export support measures to enable SMEs to demonstrate their competitiveness on the global stage.”

The city plans to provide underground support for SMEs’ overseas market expansion, including dispatching an exploratory team to Eastern Europe at the end of March and participating in the Bangkok International Food Exhibition in May.

[Original article]