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MSIT to Pioneer ICT Export Markets of China and Japan (November 22)

- Hold IT export fair in Beijing and Tokyo which is a gathering of promising Korean IT companies

- Product exhibition, investment attraction and seminar on the Fourth Industrial Revolution held concurrently

The Ministry of Science and ICT (MSIT) will contribute to driving innovative growth and actively support domestic IT companies and startups related to the Fourth Industrial Revolution in advancing into the Chinese and Japanese market, in an attempt to create global jobs.

“Korea-China Innovation Plaza 2018” was held in Beijing on November 23 and “Korea IT EXPO in Japan 2018” was held in Tokyo on November 27.

The Chinese ICT market is expected to grow rapidly at 10% annually and ICT export to China increased by 16.6% in September, compared to the same month last year, to stand at 11.62 billion dollars. Also, we are expecting additional increase in export by strengthening marketing and promotional activities.

Japan is the third largest ICT market in the world, amounting to 340 billion dollars, following the U.S. and China. In particular, by taking the opportunity of the 2020 Tokyo Olympics, Japan declared to achieve informatization of the entire society and announced action plans such as securing public wi-fi network, increasing digital signage functions and strengthening cyber security. This will lead to an increase in opportunities for domestic companies with outstanding technologies to go global.

In the “Korea-China Innovation Plaza 2018” held in Beijing, 30 promising ICT companies, Chinese buyers and 100 venture capital companies attended. A variety of programs were carried out including one-on-one export consultation meeting, seminar on the Fourth Industrial Revolution and startup pitching*.

* startup pitching: an event where startups promote their products and services in a short time to investors and panelists for startups to attract investment and sign contracts

In particular, Finance Manager Riobo of Tusstar, a Chinese accelerator (startup planner) which has nurtured over 5,000 startups participated to give an introduction on the Fourth Industrial Revolution and investment trend of China and took part as panelist of startup pitching as to actively look into investment on Korean ICT startups.

In the “Korea IT EXPO in Japan 2018” held in Tokyo, 40 promising ICT companies from Korea and 200 global ICT companies in Japan took part to hold export exhibition and consultation meeting, startup pitching, seminar on the Fourth Industrial Revolution and MoU signing ceremony.

Four export contracts worth 20 million dollars in total and a MoU between domestic and local companies are to be signed.

sign supply contract on wireless charging products and solutions for smartphones of CNA (total 5 million dollars for 5 years), sign supply contract on digital display for children of AVA Vision (total 3 million dollars for 5 years)

In the export exhibition and consultation meetings, domestic companies related to sectors under the Fourth Industrial Revolution such as AI, VR/AR, IoT, cyber security showcased their creative and outstanding products and services before local buyers and had the chance to sell them.

MSIT expects to see more of domestic IT companies to advance into the Chinese and Japanese markets through this event and pledged to make efforts to actively analyze overseas ICT markets and provide export consultations, so that domestic companies equipped with excellent technologies can take root in foreign markets.

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