Martial Arts, 'Artificial Intelligence (AI) Startup Company Presentation Series'

[Asia Economy Reporter Hwang Yoon-joo] The Korea International Trade Association (KITA), together with the Korean Standards Association, Incutek, and Next Unicorn, held the first event of the ‘Digital Transformation Artificial Intelligence (AI) Startup Investor Relations (IR) Series’ on the 15th at the COEX Startup Branch.

This series of events was planned to discover promising domestic AI-based startups, expand investment attraction opportunities, and support cooperation with large and medium-sized enterprises. IR events by sector will be held monthly until June next year. Detailed information and participation applications are available on the Trade Association’s website.

At the event, eight companies in the fields of facial recognition and digital healthcare pitched, including CVT, which provides facial recognition systems; FitMedi, an AI-based customized exercise recommendation platform; and Medical Innovation Developer, which introduced a chest X-ray AI reader.

In particular, Izek from MediHub attracted great attention with its automatic injection system based on a pain relief algorithm, applicable in various fields such as dentistry and dermatology. Also, Wellness Care Solution from Hongbok, which has technology to detect diseases such as glaucoma through iris pattern analysis, received notable attention.

Yu Eung-jun, Korea representative of NVIDIA, introduced AI trends in various industries such as automotive, pharmaceuticals, and healthcare in his keynote speech, stating, “The innovation will of the leading groups in each industry will determine the future of Korea’s AI industry.”

Song In-gyu, head of research at Incutek, said, “Despite a significant contraction in global startup investments in the first quarter of this year, several startups combining AI and healthcare have newly joined the unicorn list,” adding, “Korea should actively discover and nurture startups like iCarbonX, which attracted $200 million with AI disease prediction services, and Flatiron Health, which raised $350 million with cancer patient data analysis technology.”

Park Sun-kyung, head of the Innovation Ecosystem Office at the Trade Association, said, “Many startups with innovative technologies and services face difficulties in scaling up due to funding issues,” and added, “We will continue to hold events connecting startups and investors in cooperation with other organizations.”

This content was produced with the assistance of AI translation services.