Press Release

Changwon City Start-up U.S. 'CES2024' has achieved a record $10 million performance

Changwon City, South Gyeongsang Province, announced on the 15th that 10 excellent start-ups in Changwon City participated in "CES2024" held in Las Vegas until the 12th, signing 15 MOUs and $10.59 million contracts, the highest amount ever.

CES, the world's largest consumer electronics and IT fair where visitors can see future technologies in January every year, attracted more than 4,000 companies from 150 countries under the theme of "All Together, All On" this year. Among them, there are about 500 Korean companies, the third largest number in the world.

This CES is the largest ever since COVID-19, and about 130,000 people visited, and 10 companies from Changwon City participated in the Eureka Park Integrated Korean Pavilion, where 186 companies from 24 organizations participated, to showcase future new technologies, drawing attention from visitors and buyers around the world.

In particular, Changwon companies, Public, Hydrolux, and GSF System, received the CES2024 Innovation Award in recognition of their best technology from CES organizer CTA.

SJ Solution Co., Ltd., which introduced IoT-based doughnut unit automation facilities participating in CES, signed an MOU of $1.7 million with Moon Restaurant Group in the U.S., $300,000 with Sweet Dots, and $400,000 with OLA Global, and was offered to establish a local factory in the U.S. in the future.

In addition, CTNS Co., Ltd., which introduced electric battery exchange facilities, signed a business agreement with KUS Co., Ltd. to establish a local joint venture this year, following a proposal for a business partnership to manufacture cooling and healing system battery packs and supply battery cells, and a supply contract of 12 billion won with Aptula Co., Ltd. last year.

In addition, AI and software specialist The Way Co., Ltd. was offered to develop products that provide services by attaching sensors to glasses, such as Hong Kong IoT companies and Google Glass, and signed an MOU worth $2.9 million through an average of 62 consultations per day.

In addition, NeoHealth Technology Co., Ltd., which introduced the Indoor Exercise System, consulted with Peruvian CAHUANA to sign a $2 million contract, and it is expected that direct sales will be active when commercialized in the future as individual consumers are very willing to buy on the spot.

Ocean's Bio Co., Ltd., which introduced TaVNS (in vitro vagus nerve electrical stimulator), has been actively visited by local investors as well as companies in the United States and Europe, and has signed an MOU worth about $2 million from six companies, including European East Reviewers.

Pulse Lock, which introduced RF EMP filter products, signed an MOU worth $50,000 with Thailand's P.M.K. (protective circuit manufacturer) and decided to discuss in detail the development of EMP filters for satellite and aerospace from a number of companies, including NASA in the United States.

In addition, Miracleair, which participated for the second time since last year and introduced Goodips, a sleep grinding management device, as well as Better I Care, an AI-based implant care solution, received about $1 million in supply requests from companies such as Japan, the United States, and Mexico, and was offered a joint clinical study by a research team at an Italian medical school.

In addition, during the CES, an average of 3,700 visitors visited the joint building in Changwon City per day, and buyers continued to consult, and they were offered investment and collaboration in the future and promised to promote it through detailed discussions in the future.

Meanwhile, this year, three companies, AIBiotics Co., Ltd., Miraclea Co., Ltd., and Ocean's Bio Co., Ltd., which are startups in the medical bio sector in Changwon City, signed an investment cooperation MOU with M3 Global and LLC, a local investment company, to attract investment.

CTNS Co., Ltd. has signed an agreement with U.S. Aptera to establish a local joint venture in the U.S. and develop joint technology, and KNLED Co., Ltd. has achieved the best results ever, including a three-way agreement with TJ LED SIGN and POLY USA to export LED displays.

"We participated in the CES and signed an MOU of $2.2 million, 1.5 times last year," said Cho Kyung-gu, CEO of KNLD. "We are grateful to Changwon City and the Changwon Industry Promotion Agency for supporting us to participate in beneficial exhibitions where we can meet various buyers in Europe and Southeast Asia."

In addition, Lee Dae-jung, CEO of Public Corporation, who won the "CES2024" Innovation Award for SWASHER-S technology this year, said, "The technology was developed with investment through the C-Blue Wing Fund in Changwon City, and we signed a $1 million MOU with Turkey at CES," adding, "We will pursue B2B transactions with U.S. and Japanese companies in the future."

Changwon Mayor Hong Nam-pyo said, "With this participation in 'CES2024', we have proved that Changwon startups have global competitiveness," adding, "We will support them to become the main characters of Changwon's future industry by fostering excellent startups in the era of the 4th industrial revolution with the recent designation of a digital Masan Free Trade Zone."

Meanwhile, Changwon City has supported startups and venture companies in the jurisdiction to participate in CES every year since 2019, with 34 companies participating in CES, and 10 companies participating this time have also provided participation fees, airfare, interpretation and logistics costs.

Changwon = Reporter Kang Min-han kmh0105@kmib.co.kr

[Source] - Kookmin Ilbo

[Original link] - https://news.kmib.co.kr/article/view.asp?arcid=0019065334&code=61121111&cp=nv

2024-01-15 Kookmin Ilbo