Digital Solutions Korea 2024

Thanks to Digital Solutions Korea 2024, 50 European SMEs will visit the Republic of Korea and kick-start their internationalisation path in the Digital Solutions sector.

This business mission presents a unique opportunity for EU SMEs to establish valuable contacts, showcase their solutions, build long-lasting relationships with Korean enterprises and explore new business avenues together.  

Join us as we bridge continents and industries, fostering mutual growth and innovation. 
 

Target audience

Digital Solutions Korea 2024 represents a unique opportunity for:

• European SMEs and Korea enterprise involved in the Digital Solutions sector. This includes, for example, Cloud Solutions, Artificial Intelligence (AI), Internet of Things (IoT), NextGen Computing, Semiconductors, Cybersecurity, Extended Reality (XR), Robotics, Software, Media & Telecommunication Infrastructure, Blockchain, Digital health, Digital Marketing and Advertising, Fintech.
• South Korean buyers, distributors and R&D partners in public and private sectors.
• South Korean investors. 

Business mission agenda

The business mission to Seoul will last five days in total, including three days of dedicated business matchmaking and networking, a visit to Softwave 2024 for networking opportunities and a study tour. The business mission agenda is as follows:

• Day 1: welcome & networking gathering, briefing session, guest lectures.
• Day 2: business matchmaking sessions, networking reception.
• Day 3: study tour, visit and network @ Softwave 2024.
• Day 4: business matchmaking sessions.
• Day 5: business matchmaking sessions, debriefing session. 

Services/benefits the EU participants will be receiving

In case of selection, each European SME participating to the programme is entitled to receiving:

• Business matchmaking: pre-arranged in-person meetings with carefully selected South Korean enterprises.
• Market intelligence information.
• Cultural and linguistic support.
• Financial support to benefit from a menu of additional customised services co-funded by the project (e.g. interpretation, legal advice, booth decoration).
• Hotel accommodation (Sofitel) for four nights. In total, up to €1000 for accommodation are covered by the programme. 

Key market insights

Participating to Digital Solutions Korea 2024 represents a unique opportunity for European SMEs because:

• The Republic of Korea’s is Asia’s 3rd and the world’s 13th economy.
• EU exports to the Republic of Korea in 2022 amounted to €60.1 billion in goods and €11.2 billion in services.
• The Republic of Korea represents the EU’s 9th largest trading partner for goods.
• The Republic of Korea is a digital powerhouse: ranking 1st in the world for Information and Communication Technology (ICT) infrastructure and mobile internet connectivity, 4th for ICT exports, 2nd for e-commerce ratio, 3rd for cybersecurity, 10th for government AI readiness.
• The Republic of Korea ranks 1st in the OECD Digital Government Index.
• In 2022, the ICT industry accounted for 13.0% of Korea’s GDP and led the country’s economic growth, as it represented 30-40% of total exports.
• Some digital trends in the Republic of Korea include the rapid spread of cloud services, wireless network service penetration, the expansion of telecommuting, stable networks and security and digital transformation.
• The Ministry of Science and ICT listed 12 National Strategic Technologies as key focus areas in its Science and Technology Master Plan (2023-2027). These are: semiconductor and display, secondary battery, advanced mobility, NextGen nuclear power, Advanced biotechnology, aerospace and marine technology, hydrogen, cybersecurity, AI, NextGen communications, advanced robotics and manufacturing, quantum technology.