SMEs join forces with Samsung for global expansion

CEVO Mobility [Courtesy of Samsung Electronics]

South Korean small and medium-sized enterprises (SMEs) are collaborating with Samsung Electronics to explore new opportunities in domestic and international markets at the 2023 Smart Biz Expo. As part of Samsung Electronics’ Smart Factory support program, these SMEs are not only boosting their productivity but also expanding their reach into overseas markets.

CEVO Mobility, a company in the process of expanding outside Korea, made its debut appearance at this year’s Smart Biz Expo. CEVO Mobility specializes in ultra-compact electric vehicles and, after receiving a €100 million investment from the United Arab Emirates (UAE), aims to start commercial production and sales by 2025.

“With Samsung Electronics’ help, we built a smart factory, enabling us to enhance production and quality management efficiency by implementing a parts inventory management system,” CEVO Mobility CEO Park Young-tae told Maeil Business Newspaper.

“Efficient warehouse management allows us to eliminate unnecessary labor and equipment, as well as check inventory location and quantities through the system.”

While it is CEVO Mobility’s first time participating in the event, the company plans to showcase its ultra-compact electric vehicles, emphasizing its commitment to ESG (Environmental, Social, and Governance) practices. CEVO Mobility also intends to explore collaboration opportunities with Korean companies.

DaePungNyeon, a company specializing in red pepper powder production, also made its mark at the exhibition. The company participated as a smart business case after improving its manufacturing processes via a smart factory project. The company anticipates a fruitful market expansion this year and hopes to attract various buyers through its advanced production methods.

KCC, which produces automation components, is also making efforts to explore overseas markets at the expo. The firm expects to gain significant promotional benefits as many SMEs that participated in Samsung Electronics’ smart factory support program were also in attendance. KCC emphasized the necessity of its automation components in smart factory automation equipment.

To maximize its promotional impact, KCC also applied for a studio photo shoot, which was made available to participating companies free of charge.

There are also longstanding participants in the expo, such as film production company Hwajin, which has been attending this event for five years and pointed out the advantage of their ability to establish infrastructure.

“Samsung has driven smart factory adoption and process innovation to overcome the limitations of SMEs’ infrastructure usage,” Hwajin executive Han Aram said. “Participating in the expo will create a platform for us to showcase our technology and expand our market.”

Positioning itself as an eco-friendly technology company, Hwajin also participated in the Smart Biz Expo’s ESG special exhibition. “We aim to connect with customers and buyers who are highly interested in ESG amid the industry’s strong focus on this area.”