A significant transformation is happening in the way we do things, and the answer is digitalization. While the third revolution was the introduction of computers and using automation and enhancing it with smart and autonomous systems fueled by data and machine learning, the “Fourth Industrial Revolution” (also known as “Industry 4.0”) happened in the manufacturing industry.
In this frame, South Korea has emerged over the past several decades as a leading manufacturing economy and the country is now in an optimal position to remain competitive in this industry which entails the convergence of digital technologies and intelligent manufacturing operations.
Manufacturing is the mainstay of the Korean economy, and it accounts for 30 percent of GDP and is responsible for 90 percent of Korea’s exports. More than 80 percent of research and development is contributed to manufacturing fields. (Acc to trade.gov).
It’s not a surprise, then, that 7 startups invited to our upcoming Scaleup Summit South Korea (hosted in Seoul on September 19-20) are operating in this field. The event will include curated panels and visits to the local ecosystem, where corporates, investors, and scaleups operating in specific industry verticals can do business and spot technology trends.
It will be attended by some of the brilliant startups working on brand-new innovations and rapidly bringing solutions to the market, from everyday basic needs to technology for the future. Let’s look at what these companies are doing: