Yongin City, 5 Mid-sized Companies Sign $1.22 Million Contracts at CES 2022

[Suwon Ilbo=Park No-hun] Five mid-sized companies based in Yongin City achieved significant success by signing contracts worth $1.22 million at 'CES 2022,' the world's largest IT exhibition.

According to Yongin City on the 11th, the five companies in Yongin City participated in the '2022 Consumer Electronics Show (hereinafter CES)' held at the Las Vegas Convention Center in the United States from the 5th to the 7th, concluding a total of 75 contracts worth $1.22 million.

Consultation meetings totaled 133 cases with a scale of $2.9 million, and additional contracts are expected to materialize.

CES is the world's largest IT exhibition and provides a venue to gauge the latest technological capabilities that will lead the future.

This exhibition was held offline for the first time in two years due to COVID-19, with some 2,200 innovative companies from around the world participating and showcasing the latest technologies in various fields including digital health, food tech, mobility, NFT (Non-Fungible Token), and metaverse.

Five companies from the region participated: Youwecom, which develops and manufactures sound amplification devices for hearing-impaired patients; IWL Co., Ltd., a company developing cryptographic communication using quantum technology; DNX Co., Ltd., which developed an AI-customized care system; Nextkey Co., Ltd., a provider of intelligent video analysis solutions; and DRS Corporation, a manufacturer of air-circulation functional mattresses.

Yongin City established a 'Yongin City Joint Pavilion' within the venue for these companies, allowing the five companies to hold separate investment briefings where they could introduce their technological capabilities to buyers from various countries.

Additionally, the city supported 80% of the exhibition booth rental fees and 60% of equipment costs, and provided one-way ocean freight and interpretation services for each company.

A city official said, "It is important for companies in our region to gain insight into the future by participating in international exhibitions, so we will continue to help companies participate in various overseas exhibitions and support the expansion of overseas sales channels."