BUSAN -- Forty-five South Korean companies exhibited and demonstrated their new technologies related to the “fourth industrial revolution,” from green cars to smart factory solutions, in a bid to create more business opportunities in the fast-growing ASEAN markets.

Officials from the government, companies and their potential partners and clients gathered at Bexco for the ASEAN-ROK Innovation Showcase 2019, which was held on the sidelines of the 2019 ASEAN-ROK Commemorative Summit, in Busan.

“This event is designed to show the current status of prosperity between South Korea and ASEAN countries by demonstrating promising collaborations in new technology sectors, and to suggest a vision for future cooperation,” Minister of Trade, Industry and Energy Sung Yoon-mo told a press briefing.

The exhibition was divided into four innovative industries -- smart farming, future environment and energy, future mobility and smart lives.

Telstar-Hommel demonstrated its artificial-intelligence smart-factory platform LINK5, designed to create a seamless process throughout the entire manufacturing cycle with the help of 5G, the internet of things, big data and virtual reality.

“Korean small and medium-sized enterprises that enter foreign markets by building their factories overseas could harness this technology. This digital technology will allow the headquarters to simultaneously interlock its manufacturing system to its overseas plants real-time,” said Park Jung-soo, president of the firm.

Thai Higher Education, Science, Research and Innovation Minister Suvit Maesincee, who visited the exhibition with Minister of SMEs and Startups Park Young-sun, showed interest in Telstar-Hommel, asking whether the company has made inroads into the Thai market.

The Thai minister also inquired about the cost of adopting smart factories and how to solve unemployment issues if the number of smart factories increases.

“We can train existing workers to become inspectors who examine whether smart plants operate well,“ Park said.

Meanwhile, Kyungwoo Systech plans to transform tuk-tuks, three-wheeled vehicles that serve as popular transportation in Laos. It has collaborated with Laotian companies to launch its electric vehicles and mobility platform in the country in May next year.

“Our product and technology will be the best fit for Laos, which advocates green mobility. We will also provide a ride-hailing service and a battery exchange system, which requires a short amount of time to refill compared to a recharging system,” said Kyungwoo Systech Managing Director Choi Seong-ho.

By Park Han-na (hnpark@heraldcorp.com)