4 Small and Medium Enterprises in Daejeon Achieve $3.87 Million Contract Success in North American Market Expansion

In the first half of this year, small and medium-sized enterprises (SMEs) in the Daejeon area showed remarkable achievements in entering the North American market.

On the 26th, Daejeon City announced that four local ICT sector SMEs secured export contracts and investment totaling $3.87 million (approximately 5 billion KRW) in the first half of the year, along with establishing two local subsidiaries.

The companies involved are ▲Weplo (drone programming) ▲Nota Co., Ltd. (artificial intelligence) ▲Agos Vision (autonomous driving sensors) ▲Hayan Mind Co., Ltd. (mobile language education), all of which participated in the “North American Market Entry Support Project (KIC-Silicon Valley Program)” promoted by Daejeon City to support entry into the U.S. market.

The North American Market Entry Support Project provides local companies with customized programs tailored to the local market.

Previously, Daejeon City established a collaborative relationship with KIC-Silicon Valley last year, laying the foundation for the project’s implementation. This support for North American market entry through collaboration between a local government and KIC-Silicon Valley is the first case nationwide.

KIC-Silicon Valley is a specialized organization under the Ministry of Science and ICT’s National IT Industry Promotion Agency that supports international cooperation and overseas expansion. In the first half of the year, it provided Korean companies with localization training in the U.S., business item validation, and support for establishing local subsidiaries.

In the second half of the year, direct support such as technology development costs, marketing expenses, and logistics costs will be provided to four SMEs selected in May: Victoridge Co., Ltd. (energy storage software), iBeam Technology Co., Ltd. (medical experiment equipment), EMCity Co., Ltd. (remote monitoring services), and Reynolds (AI-based fitness app) to assist their entry into the U.S. market.

Han Sun-hee, Director of Strategic Business Promotion at Daejeon City, said, “The achievements of the North American Market Entry Support Project are the result of local companies being recognized for their technological capabilities on the global stage. Daejeon City will continue to spare no effort in supporting many local companies to expand overseas.”

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