Korean ICT Companies to Enter Japanese IT Market (July 6)
- Korea IT Expo 2018 in line with Korea-Japan Economic Exchange Fair 2018 in Tokyo, Japan
- Participation of 30 Korean ICT firms, 200 Japanese firms including Fujitsu, Rakuten
□ The Ministry of Science and ICT announced that MSIT together with the Korean Embassy in Japan and KOTRA held the ‘Korea IT Expo 2018’ in connection with the ’Korea-Japan Economy Exchange Fair’ in Tokyo, Japan on Thursday, July 5.
※ Korea IT Expo 2018, organized by MSIT, offers export consultation meetings to companies which moved into the Tokyo IT Support Center and selected companies in order to help Korean ICT companies enter into the Japanese market.
ㅇ With the active implementation of the Fourth Industrial Revolution growth strategy such as the recent Future Investment Strategy (2017), growing interest in Korean ICT companies in Japan, and 2020 Tokyo Olympics, the event was held to secure the market for Korean SMEs and to promote local employment.
□ At the Korea-Japan Economic Exchange Fair 2018 and Korea IT Expo 2018, 70 Korean SMEs, which are competitive in export, and 200 Japanese leading companies* participated in 1:1 export consultation meetings, MOU signing ceremony, and talent exchange meetings for employment in Japan.
* Japanese leading ICT companies, including Fujitsu, NTT, Docomo, and SoftBank, as well as large distribution networks, such as Rakuten, Amazon Japan, and Seibu, attended and reviewed purchasing Korean products.
ㅇ Korean companies exhibited services and products such as Artificial Intelligence, Virtual Reality, IoT, and Information Security, had 1:1 export consultation meetings with Japanese companies, and held seminars in relation to applicable technologies (mobile technology(5G), Virtual Reality, IoT, and Artificial Intelligence) for 2020 Tokyo Olympics.
□ The event, as part of the diplomatic policy of science, technology, and ICT, expects to achieve substantial outcomes such as the signing of the four MOUs on Supply Development, worth total of US$ 21.9 million in order to support entry into the ICT foreign markets.
□ On the other hand, a talent exchange meeting for employment in Japan was successfully held, serving as a venue for sharing information between workers from Google Japan, startups and Korean students studying in Japan.
ㅇ In a situation where the number of Korean youth working in Japan is increasing, Korean workers at Japanese firms shared their experiences and difficulties and provided useful information with Korean students for employment in Japan.
□ Director Kim KKok Ma Euml for International Cooperation of MSIT said, “I hope this event serves as an opportunity for Korean ICT companies to take interest in entering the Japanese market and we will strive to enter foreign markets according to the plan”, adding that “I hope this event becomes a stepping stone for bilateral cooperation in science, technology and ICT diplomacy”.