Gyeonggi-UT Innovation Program Signing Ceremony held on October 31.
The 6th anniversary of technology commercialization between Gyeonggi SMEs and the University of Texas at Austin.

◇ Gyeonggi Governor Kim Moon-soo is delivering a congratulatory speech at the Gyeonggi-UT Innovation Program Signing Ceremony held in the Ramada Plaza Suwon Hotel on October 31. ⓒ Gyeonggi G-News Yoo Je-hoon

Gyeonggi Province and Gyeonggi Small and Medium Business Center (GSBC) are acting as stepping stones for excellent small and medium-sized enterprises (SMEs) in Gyeonggi to enter the U.S. market.

Gyeonggi Province and GSBC hosted the Gyeonggi-UT Innovation Program Signing Ceremony in the Grand Ballroom on the 3rd floor of the Ramada Plaza Suwon Hotel on October 31 to help SMEs enter the U.S. market.

The UT Innovation Program is a project that selects outstanding and state-of-the-art innovative technologies of Gyeonggi SMEs and supports them to grow into global companies by entering the U.S. market through systematic training and technology commercialization with the University of Texas at Austin.

This year marked the 6th anniversary of the program, which began back in 2008. The selected companies receive support such as intensive training from UT marketing specialists for a year to enter the U.S. market, connection with local buyers in the U.S., as well as hands-on support for business trips to the U.S.

Over 200 people participated in the ceremony, including Gyeonggi Governor Kim Moon-soo; Geum Jong-rye, chairman of the Commission on Economics, Science and Technology of Gyeonggi Provincial Assembly; GSBC President Hong Gi-hwa; Robert Peterson, Associate Vice President for Research in the University of Texas at Austin; and other SME-related officials.

“I hope Korean SMEs with superb technology join forces with American companies to show great potential,” said Governor Kim, adding, “We will do our best to support the SMEs in Gyeonggi for their values to achieve recognition in the global market.”

Robert Peterson, Associate Vice President for Research at UT commented, “I would like to thank the Gyeonggi officials including Gyeonggi Governor Kim Moon-soo who put in a great deal of administrative support and interest for the program’s success. We will make continuous efforts for this accomplishment to be more than just a one-time event and lead to a sustainable project communicating with the whole world beyond the U.S. market.”

Daehan Flexible & Spiral Duct signed the export agreement as a company for Year 5, and entered into a supply agreement with Custom Air Products & Services, Inc. in the U.S. to manufacture cooling and heating systems and distribute them to 52 countries.

“It’s not easy for our company to export our products to other countries on our own, but we could come this far thanks to the GSBC’s support,” said Yoon Jeong-Woong, president of Daehan Flexible & Spiral Duct. “I would like to thank Gyeonggi Province and UT officials who provided unstinting support for us to enter the U.S. market successfully.”

In addition, Daedong ENG, FO&T, and Hana Engineering signed an agreement with American companies through the UT Program.

In Year 5 (20122013), a total of nine companies signed 11 export agreements and are promoting contracts worth USD 19.27 million.

◇ Kang Chi-gu (president of FO&T) and Francisco Turner (president of Turner Telco) signed and exchanged the export agreement and had a commemorative photograph taken with related officials such as Governor Kim and GSBC president Hong. ⓒ Gyeonggi G-News Yoo Je-hoon

◇ Director Shin Chul-soon of KNR Systems, a company from Year 2 that donated KRW 10 million after the ceremony, is taking a commemorative photograph with Governor Kim. ⓒ Gyeonggi G-News Yoo Je-hoon

After the ceremony, KNR Systems, a company from Year 2 (2009-2010), donated KRW 10 million to Gyeonggi Province to develop the export industry in Gyeonggi as a form of appreciation for its active support in entering the U.S. market, which received a big hand from the participants.

Since 2010 when it was selected as a UT Program company as a manufacturer of automobile reliability test equipment, KNR Systems has promoted a joint project upon agreement with Link Engineering, a U.S. multinational company. It has now grown into a hidden champion with a record of KRW 15 billion in annual sales.

“Our company, which has been weak in export, could take a leap thanks to the UT Program,” said ShinChul-soon, director of KNR Systems, and offered words of encouragement, “We hope the companies selected for Year 6 will also make active use of the program to produce tangible results.”

Fifteen companies were selected for Year 6 (2013-2014): PENTA, Seil, Curaco, Specs, Goldfill, Kwang-Technomagnet, EofE Ultrasonics, Jowootech, UMT Labs, Bionics, Winy Technology, Plato, UB Chem ES&D, and GEN. They were selected among a total of 220 applicants after a strict document screening and interview, and they received a certificate from Governor Kim for participating in the UT Program.

“The UT Innovation Program has supported 66 companies for over five years since 2008, achieving contract results worth USD 100 million and creating jobs for 218 people,” said an official of Gyeonggi Province. “The UT Program will provide a great help for SMEs to develop the U.S. market with the public confidence of the University of Texas at Austin as well as the network experiences of UT marketing specialists.”

◇ Representatives of 15 promising companies of Gyeonggi received certificates as the companies for Year 6 and had a commemorative photograph taken with Governor Kim. ⓒ Gyeonggi G-News Yoo Je-hoon

ⓒGyeonggi G-News | Roh Kyoung-hee khrohh@kg21.net 

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