NIPA supports smart content based on new technologies such as 5G, VR, AR, and AI
A total of 20 companies achieved 14.5 billion won in exports and attracted 5.5 billion won in new investments.

Domestic smart content based on new technologies such as 5G, VR, AR, and AI achieved 14.5 billion won in exports and attracted 5.5 billion won in new investment through government support projects.

▲ Cubroid, a STEAM education platform utilizing wireless communication blocks and coding applications <Photo=NIPA>

The National Information & Communication Technology Promotion Agency (NIPA) announced on the 17th that it achieved 14.5 billion won in exports and attracted 5.5 billion won in investment from 20 companies through the 2019 Smart Content Overseas Promotion and Marketing Support Project, which targeted promising export sectors such as 5G, VR, AR, and AI.

This project was conducted to support the establishment of a foundation for the overseas expansion of smart content-related companies and provides customized support services for promotion and marketing. The areas of support included ▲production of online and mobile advertising and promotional infrastructure ▲influencer marketing ▲social media management ▲overseas press releases ▲market research for target country selection ▲business matching services and exhibition participation support ▲production of promotional materials, providing assistance tailored to each company's needs and target countries.

A total of 20 companies received support through the project, recording total sales of approximately 27.4 billion won, the creation of 130 new jobs, and the attraction of 5.5 billion won in new investments as of 2019.

Cubroid, a company providing STEAM education platforms utilizing wireless communication blocks and coding applications, was able to expand its presence to 40 countries through multifaceted support ranging from online advertising and the creation of promotional infrastructure to participation in overseas exhibitions. Furthermore, at the Dubai GITEX 2019 exhibition held last October, the company achieved the feat of completing on-site sales of coding blocks worth $10,000 within just two days of the event, and is currently in the process of negotiating export contracts worth over $1 million with buyers from 20 countries.

Choi Yeon-cheol, Head of NIPA’s 5G Content Diffusion Team, said, “2019 was the inaugural year for declaring the world’s first commercialization of 5G. I am pleased that many companies achieved remarkable results despite the difficult situation where it is hard to produce results due to high demand from early-stage companies seeking to enter the market,” adding, “We will continue to actively support various domestic smart content so that it can be recognized in the global market.”

Meanwhile, a survey conducted by NIPA on supported companies revealed that the business satisfaction index for comprehensive support—including customized services tailored to each company based on prior consulting, the provision of professional services both online and offline, and the presentation of long- and short-term roadmaps—scored 99.8 points, indicating high satisfaction with the establishment of a system foundation for entering overseas markets in the smart content sector.