* Date : 2020-01-03
There are still a lot of domestic SMEs which have developed competitive technologies and products that are comparable with major companies, but faced difficulties in making advancement into overseas markets because of the lack of branding power. The government and related organizations have actively provided support to strengthen the capabilities of the domestic small and mid-sized businesses. Brand K is a joint brand for the domestic small and mid-sized companies. And it is a label for consumer goods that are certified by the government. In September last year in Bangkok, Thailand, a Brand K launching show was successfully held. And a lot of efforts have been made to increase the competitiveness of the domestic SMEs. Innovation activities and growth potential are the key elements that are analyzed when selecting the businesses for Brand K. Discovering innovative consumer goods produced by the domestic SMEs and helping them gain recognition both at home and abroad are the major goals of the Brand K project. Small & medium Business Distribution Center has established a store which introduces the Brand K products manufactured by 39 domestic SMEs. A variety of items including electronic goods, daily supplies and food have captured the eyes of consumers. A lot of efforts have been made to expand the distribution channels of the domestic small businesses. And a domestic company, which provides functional cosmetics that can reduce wrinkles, has achieved a 15 times increase in sales after being selected as a Brand K product. Moreover, it has given a boost to the company’s advancement into the European market. We explore Brand K marketing project, which has been promoted with the aim of increasing the competitive power of the domestic small businesses, that have led the Korean economy.
A lot of cutting-edge technologies have evolved so fast and it is difficult for the market to catch up with the rapid changes. A variety of domestic industrial technologies have been closely connected with people’s daily lives. And it has increased the convenience of people. Moreover, technologies that have implemented AI and autonomous driving to increase efficiency, have also seized a lot of attention. Along with the world’s first launch of commercial 5G services in April 3, last year, the evolution of AR, VR and hologram contents has been realized. The government budget for the software industry has expanded to about 563 million U.S. dollars in 2020. And it is expected to give a boost to the realistic contents including VR, AR and hologram, which will lead the future industries based on the 5G network. AI is expected to draw participation of customers, provide new experiences and enable marketing strategies for individuals. Service robot, which has collaborated with AI technology, can replace human workforce. And it has been actively commercialized and gained recognition in the global market. The number of self-driving vehicles which have implemented AI technology that can give orders based on the collected data is expected to surpass 740 thousand by the year 2023 in the global field. We introduce the evolution of cutting-edge K-Tech, which will bring about significant and innovative changes to people’s daily lives in the year 2020.
The range of the Korean Wave has broadened to wider areas including K-Contents like K-POP and K-Drama as well as K-Beauty and K-Food. In 2020, the government is planning to promote diversified tourist programs that collaborated K-Contents, K-Beauty and K-Food, with the aim of attracting 20 million foreign tourists. Also, the government has unveiled its plan to foster the K-Beauty industry in order to make Korea one of the top three cosmetics exporting countries in the world by the year 2022. Along with the expansion of the Korean Wave, K-Food has also seized a lot of attention. Sinchon is a district where a lot of foreigners visit to experience renowned Korean dishes. And there is a restaurant supported by the Ministry of Agriculture, Food and Rural Affairs as well as the Korea Agro-Fisheries & Food Trade Corporation for young people who want to start their own restaurants and provide unique Korean dishes. The project aims to boost the K-Food industry. In 2020, experience and IT skills will be the major trends of the traveling in Korea. Instead of simply watching, ICT-based tourism industry, which provides various experiences, has been continuously developed. We look into the Korean Wave industry, which has made great contributions to the economic development and cultural exchanges.