Director General for Industrial Technology Policy Kim Hyun-cheol at the Ministry of Trade, Industry and Energy gives a speech at the 2018 Korea Tech Commercialization Fair at COEX in Seoul on Dec. 5.

The Ministry of Trade, Industry and Energy (MOTIE) hosted the 2018 Korea Tech Commercialization Fair under the theme “Bring Values to Technologies, Growth through Innovation” at the COEX in Samseong-dong, Seoul, on Dec. 5.

The six rendition of the fair brought together about 300 people, including Director General Kim Hyun-cheol in charge of industry technology policy at the MOTIE, university students, SMEs, venture companies, research institutes and venture capital officials. The participants took time out to share achievements that have so far been made, and discuss the way technology commercialization, a key factor of innovative growth, is achieved.

In particular, the event coincided with a ceremony to award 31government and other prizes to companies which have contributed to boosting sales and creating jobs through technology commercialization in celebration of the 20th anniversary of technology commercialization.

Among the award winners were New Korea Industrial Co., which received the MOTIE minster’s prize. Saehan succeeded in localizing composite panels thanks to a joint R& collaboration with Korea Electronics Technology Institute (KETI) and Pusan National University and made a feat of exporting 287.5 billion won.

Participants of the 2018 Korea Tech Commercialization Fair and award winners, including President Kim Hak-do of the Korea Institute for Advancement of Technology (KIAT), gesture for a group photo session at the exhibition. (Photos: MOTIE)

The fair also coincided with a session of announcing the outcomes of a technology trade expedition network project to provide support ranging from the establishment of cooperative networks with each district’s techno park and civilian technology transaction institutions to technology commercialization. Success stories involving Chungcheognam-do-based Waterfin and Gyeongsangbuk-do-based Daeyoung Electronics were introduced.

The also had side events such as a business model competition involving graduate school students who are majoring in technology business administration and a technology financing session.

In a commemorative speech at the fair, Director General Kim Hyun-cheol, in charge of industry technology policy at the Ministry of Trade, Industry and Energy, said, “Technology commercialization is a core part of innovative growth and job creation.”

The ministry will make efforts to establish an innovative technology commercialization ecosystem in which companies with innovative capabilities can demonstrate their challenging spirit to create new markets and new industries, he added.