S. Korea’s Innovative Products Shine on the Global Stage

11 Innovative Companies Honored with Innovation Awards at CES 2024... Demonstrating Global Technological Competitiveness by Incorporating Advanced Technologies such as Artificial Intelligence and Robotics into Eco-friendly and Bio Products

Innovative Products supported by PPS’ Innovation Procurement initiative are gaining recognition for their innovation and excellence worldwide.

PPS　announced that 11 Innovative Products from 11 innovative companies received the 'CES Innovation Award' at CES 2024, the world's largest international electronics exhibition held in Las Vegas from the 9th to the 12th of January. The CES Innovation Award is given by the Consumer Technology Association (CTA) to products that excel in technological and innovative aspects among participating companies.

The 11 innovative companies receiving the CES Innovation Award this time are growing with systematic support by PPS’ Innovative Procurement initiative. When designated as Innovative Products, they receive benefits such as direct contracting In addition, PPS supports domestic and international validation activities (testbed) for newly commercialized Innovative Products through pilot procurement projects to enhance market entry. Among the 11 innovative companies, 9 received support for pilot procurement.

Following achievements of tech companies supported through the IP initiative at 2023 CES, the initiative is being recognized for playing a pivotal role in the steady growth of innovative tech companies.

Looking at the 11 innovative products that received the CES Innovation Award, most of the products stand out in improving the quality of consumer life in the environment, health, and safety areas with outstanding technological capabilities in advanced fields such as artificial intelligence and robotics.

In the field of eco-friendly robots, products like KOBOT, a marine pollution collection robot by KOAI Co., and ECO-BOT, a seaweed removal water purification robot by Eco-Peace Co., are notable. In the bio sector, HUCA System's complex upper & lower limbs gait training/rehab system and DeepBio's artificial intelligence prostate cancer diagnosis software are eye-catching. Other noteworthy products include Microsystems’ AI surveillance system with electronic self-cleaning technology and Seadronix’s artificial intelligence ship docking assistance system.

PPS Administrator Lim Ki-keun stated, "Winning the CES Innovation Award against global products is proof of global technological competitiveness." He added, "As the positive functions of the Innovative Product public procurement system have been confirmed as a gateway for fostering venture and innovation companies, we will continuously improve and develop the growth ladder that follows 'Venture Mall → Inno-KONEPS( online mall for Innovative Products) → Excellent Government Products' in line with changes in the innovative ecosystem."

In 2024, PPS plans to strengthen support for Innovative Product designated companies to grow into global tech companies by significantly increasing the budget for on-site validation (Testbed) for technological improvement from the previous year's 40 billion KRW to 53 billion KRW. It also plans to enhance combined support for wider sales channels and finance by holding IR(investor Relation meetings with policy finance institutions.

Meanwhile, PPS plans to hold a special exhibition for the 11 award-winning innovative products on the Inno-KONEPS (https://ppi.g2b.go.kr).'