K-Digital Wave: Korean Startups and Tech Giants Ready to Amaze at CES 2024

As CES 2024, the most powerful tech event in the world gears up to unfold its tech extravaganza in Las Vegas from January 9-12, the spotlight is set to shine brightly on Korean companies, startups, and innovators. This year, over 550 Korean entities, ranging from global tech giants to Korean startups, are ready to unveil their cutting-edge technologies, cementing South Korea’s position as a powerhouse of innovation in the global tech landscape.

CES 2024 will be hosted at Las Vegas Convention Center bringing together 4000+ exhibitors, including global brands and startups, industry professionals, media and government leaders.

K-Startup Pavilion & Record-Breaking Achievements

The Ministry of SMEs and Startups is set to oversee the ‘K-Startup Integrated Pavilion’ at CES 2024, in collaboration with various entities, including 26 public institutions, local governments, and universities, at CES Eureka Park with an expanded size of 91 booths. Ten out of the 91 participating companies have been honored with the ‘CES Innovation Award’ for outstanding innovation. Minister Oh Young-joo highlighted CES 2024 as a significant opportunity for Korean companies to discern global market trends and formulate overseas expansion strategies. The Ministry aims to actively support businesses in creating new opportunities abroad, while also promoting the ‘K-Startup’ brand globally, showcasing Korea’s attractive startup ecosystem to conglomerates and investors worldwide.

Meanwhile, a record-breaking 116 Korean venture and startup companies secured CES Innovation Awards, marking the highest number ever. Administered by the Consumer Technology Association (CTA), these awards recognize outstanding innovations in various fields. Of the total 313 winners and 379 products, 134 companies (42.8%) and 158 products (41.6%) were domestic, with 90% being small and medium-sized ventures.

Notably, 86.6% of the Korean awardees were startups, and 72.4% had less than 7 years of business experience, setting a new record. A substantial 78.4% of these award-winning startups had participated in Ministry of SMEs and Startups support projects. Additionally, among the ‘Best of Innovation Award’ recipients, seven out of eight were venture/startup companies, underscoring their global impact.

Gyeongbuk Center’s Startup Ecosystem Triumphs Globally with CES Best of Innovation Awards

The Gyeongbuk Creative Economy Innovation Center, known as Gyeongbuk Center, has successfully propelled five local startups to international recognition by securing the prestigious ‘CES Best of Innovation Awards at CES 2024 in Las Vegas, USA. This achievement underscores the center’s commitment to fostering innovation and collaboration with key partners such as the Ministry of SMEs and Startups, Gyeongsangbuk-do, Samsung Electronics, and other affiliated organizations.

Notable awardees include Midvar, acknowledged for its groundbreaking ‘Aeroponics-based Air Farm,’ A&Poly for its eco-friendly biomaterials, Watta for its high-precision location information services, Repla for advancements in recycled plastic purity, and Cream for its AI-based webtoon production solution. These accolades highlight the success of the ‘Gyeongbuk Innovation Venture Acceleration Program’ in supporting local startups on their journey to global competitiveness, further solidifying the region’s position in the tech and innovation landscape.

Incheon Startup Park’s Show of Innovation

Incheon Free Economic Zone Authority (IFEZ) has proudly announced that nine domestic startups nurtured by Incheon Startup Park clinched a remarkable total of 11 CES Innovation Awards. Established in 2003, IFEZ actively supports overseas expansion for local companies, with Incheon Startup Park acting as a launchpad for early-stage startups. Branded as Korea’s first ‘Korean Silicon Valley,’ it facilitates validation, investment, and entry into the global market.

These startups, supported by Incheon Startup Park, cover diverse sectors, including financial technologies, cybersecurity, vehicle tech, advanced mobility, and robotics. Notable mentions include Lordsystem, Microsystems, BANF, Gole Robotics, K-Rangers, Safeware, Sheco, TheLittleCat, and Verses, each recognized for their groundbreaking contributions to their respective fields. IFEZ startups can be found at ‘Incheon/IFEZ Promotion Hall’ Booth No.9037, LVCC North Hall at CES 2024.

Semiconductors & AI Chip Technologies

South Korea’s fabless chipmakers and semiconductor IP companies are set to make waves at CES 2024. DeepX, specializing in AI accelerator chips for neural processing units (NPUs), stands out as a star performer. Winning the CES Innovation Award in three categories—computer hardware, embedded technology, and robotics—DeepX leads the charge in the competitive AI semiconductor field. Their AI algorithm technology for edge AI applications and power-efficient NPUs promises real-time applications in smart cameras, mobility solutions, robots, and smart appliances.

Panmnesia, a fabless semiconductor company excelling in Compute Express Link (CXL) technology, is set to showcase its CXL-Enabled AI Accelerator at CES 2024. This innovative technology, capable of sharing memory across multiple hosts without coherency concerns, represents the pinnacle of chip memory architecture.

Chips & Media, a semiconductor IP company founded in 2003, is focusing on on-device AI with its NPUs. They plan to introduce their new NPU design asset, CMNP, at CES, underscoring the significance of NPUs in enabling AI functionalities without reliance on cloud servers.

Content Creation Solution & Batteries for Future

RebuilderAI, a 3D technology startup, has earned the CES Innovation Award in the “Mobile Devices & Apps” category for its mobile-based 3D content creating solution, “VRIN 3D.” This innovation allows users to quickly create 3D content by capturing surrounding objects and spaces on their smartphones. RebuilderAI’s technology, to be showcased at Booth #61504 (Eureka Park), is recognized for its growth potential and backed by major investments.

LiBEST Inc., a South Korean lithium-ion battery startup, is unveiling an advanced form of flexible batteries at CES 2024. With a focus on applications for AR glasses and head-mounted displays (HMDs), LiBEST’s multi-structured flexible batteries showcase innovation in design and functionality. The company’s commitment to safety and energy density has earned it recognition at previous CES events. This year LiBEST Inc. will be found at Booth #23227 (LVCC Central Hall).

Korean Tech Giants to Step Up

Korean tech giants are also gearing up to make a splash at CES 2024. Samsung Electronics, the world’s largest mobile phone and memory chipmaker, will present its vision for AI technologies, emphasizing connectivity in the age of AI. LG Electronics, expanding its business portfolio, will introduce new AI-powered technologies, including the Smart Home AI Agent and a concept car unveiling its next-generation mobility vision.

SK Group, Hyundai Motor, and Kia are joining forces to showcase net-zero technologies, electric vehicle batteries, urban air mobility, and more in a thematic pavilion. Hyundai Motor Group’s Hyundai and Kia will share their future blueprints for hydrogen energy ecosystems, software, and AI.

CES 2024 is shaping up to be a showcase of Korean ingenuity, with startups, semiconductor companies, and tech giants alike poised to display their innovations on the global stage. From AI chips to 3D content creation, flexible batteries, and beyond, South Korea’s tech prowess is set to captivate audiences and contribute significantly to the ongoing global dialogue on emerging technologies. As CES unfolds, the world eagerly awaits the unveiling of these groundbreaking Korean technologies, propelling the nation further into the forefront of global innovation.

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