SEOUL, SOUTH KOREA, February 2, 2021 – Companies featured at the Seoul Pavilion won deals worth a total of $10.2 million in this year’s all-digital Consumer Electronics Show, the mega tech-industry trade show better known as CES 2021, according to the Seoul Metropolitan Government and the Seoul Digital Foundation.
The 15 Seoul-based firms featured at the Seoul Pavilion during three days from January 11 showcased the latest in artificial intelligence (AI) technology to provide day-to-day solutions. Wayne Hills Ventures Inc., with its AI Text-to-video Converter, landed $1.2 million in deals with publishing giant Penguin Random House and Shutterstock, one of the world’s leading providers of stock images. The Seoul-based startup’s AI Video Converter provides an AI service that automatically produces text into video, with a customization function to meet user specifications and satisfaction.
“As this year’s CES was held completely online due to the global pandemic, we were keen to seek out government backing to add substance and lend weight to our corporate prowess,’’ said John Lee, CEO and founder of Wayne Hills. “The Seoul Metropolitan Government’s dedicated assistance was key to our success in the trade show.”
AIVAR, a Seoul-based startup that developed MY FIIT, a mobile app that provides smart body measurements solutions, is also expected to gain access to a global distribution channel, negotiating a collaborative deal with P&G, the world’s largest consumer goods company.
The company’s app allows users to take photos and get accurate body measurements within 10 seconds and recommends clothing sizes based on these estimates. It even provides an augmented reality (AR) service that allows users to view a runway show with the recommended clothing.
These and other companies that were featured at the Seoul Pavilion during the global tech show were able to land investments and make inroads into China, Japan and other international markets, with diverse solutions to enhance day-to-day comfort and convenience.
AlgoCare, which won the 2021 CES Innovation Awards for Health & Wellness with its internet of things (IoT) solution that provides personalized nutrition management, is finalizing a $9 million investment deal, while PiQuant, which developed a handheld IoT device that can scan food to gauge its freshness, is in discussions with global electronics firms to adopt its solutions, whichmay open doors to some 160 countries around the world. Its device uses spectroscopy and a unique algorithm, allowing users to determine the food’s country of origin, nutrition information before they buy or eat the food.
The Seoul Metropolitan Government said it will continue to assist Seoul-based firms in their forays into the international market through various programs including the Seoul Pavilion, which has been a fixture at CES for two consecutive years.
Visitors will be able to access the Seoul Pavilion’s business program featured at the CES 2021 at hhttp://www.smartseoul.net/ until the end of February.