'Korean MWC' to be Held Online in September... Utilizing Virtual Reality

[Asia Economy Reporter Seulgina Jo] The Korean version of the Mobile World Congress (MWC) will be held online this September. The goal is to open export channels by showcasing innovative products from domestic ICT companies based on new technologies such as virtual reality (VR), while demonstrating the technological prowess of the ICT powerhouse to the world. This initiative focuses on differentiation by utilizing advanced technologies in line with the untact era, which has become normalized since the outbreak of COVID-19.

A Ministry of Science and ICT official stated on the 1st, "We will hold a large-scale ICT online exhibition so that domestic ICT companies can introduce their products and companies in virtual spaces and have business meeting opportunities with overseas buyers." The Ministry of Science and ICT and the Korea Association of ICT Promotion (KAIT) will announce related details this month and accept applications from companies. After a preparation period including video production, a separate site accessible in September will be opened. The budget for this year is estimated at around 400 to 500 million KRW.

This online exhibition is being promoted based on industry requests that domestic ICT companies have lost their sales channels as major domestic and international exhibitions, including the world’s largest ICT exhibition MWC Barcelona, and buyer meetings have been consecutively canceled due to the spread of COVID-19. Small and medium-sized enterprises (SMEs) that find it difficult to produce promotional videos based on new technologies such as VR on their own can receive support from KAIT.

Online business meetings between overseas buyers and domestic ICT companies will also be arranged. Keynote speeches and forums using YouTube are also being considered. Rather than simply listing product introduction videos on an online homepage or broadcasting specific events via video, the plan is to create a comprehensive business platform in virtual space incorporating advanced technologies. In fact, it is essentially an untact version of the 'Korean MWC.'

A Ministry of Science and ICT official said, "Small and medium-sized companies that used to have business meeting opportunities and marketing through events like MWC have repeatedly requested that the business venues themselves disappeared after the COVID-19 crisis," adding, "We will create a platform to open export channels in the untact era by designating specific periods for business meetings."

Although some companies have held product launches and briefings online since COVID-19, this is the first time a large-scale untact exhibition is being held under government leadership. It is characterized by upgrading the export support site BuyKorea, previously opened by the Ministry of Trade, Industry and Energy, and specializing it in the ICT sector. In particular, the Ministry of Science and ICT plans to continuously update this exhibition rather than making it a one-time event, responding to the prolonged COVID-19 situation. The explanation is that some contracts can be concluded without necessarily traveling overseas.

This content was produced with the assistance of AI translation services.