Title | KCC HOSTS 2024 KOREA LBS DAY | ||
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Date | 2024-12-26 | Read | 2446 |
Location-based services are taking roots as a core technology in daily lives. Outstanding start-ups are awarded prizes as part of efforts to support the exploration of new sales channels and collaborative measures for shared growth. The Korea Communications Commission (KCC, Acting Chairperson Kim Tae-kyu) and the Korea Internet and Security Agency (KISA, President Lee Sang-Joong) hosted the 2024 Korea LBS Day on Monday, December 16. The 2024 Korea LBS (Location Based Services) Day is an extension of the award ceremony of a competition on location-based services, which has been hosted by the KCC and the KISA every year. The LBS day provides an opportunity to bring together domestic location information service providers, start-ups, public organizations, private companies, and investors to share innovative location information-based business models and strengthen collaboration and growth. It also aims to explore innovative business models and support the growth of start-ups through the utilization of location information technologies. The LBS Day featured diverse programs, including award ceremonies for outstanding location information business models, meet-ups between business entities, Investor Relations (IR)* showcases, and the operation of promotional booths. IR refers to presentations about businesses to investors with the aim of introducing their companies and attracting investment. First of all, the Meet-up event served as a platform to develop new sales channels through networking between public organizations, conglomerates, and small and medium-sized companies. It provided business meetings which were divided into private* and public** sectors, allowing public organizations as well as private companies with demands for innovative location information-based services to engage in discussions with aspiring start-ups for collaboration. * Private sector: KT, Mercedes-Benz Korea, LG Sciencepark, Hyundai Motor Group ** Public sector: Korea Environment Corporation, Korea Water Resources Corporation, Korea Asset Management Corporation, Korea Airports Corporation, Korea Racing Authority Also, the IR showcases included presentations of IR by start-ups for major domestic investors such as Shinhan Venture Investment and Q&A sessions. They also provided an opportunity to attract investment through presentations of various location information-based business models. In addition, education was provided on the legal framework including protective measures regarding location information for location information providers and others. Also shared were the knowhows of successful business development by award-winning companies*. Services utilizing location information technologies of public corporations and private companies were showcased in addition to promotional booths ** where hands-on experiences of innovations are available. *Doctornow (CEO: Jang Ji-ho), WEMEETMOBILITY (CRO: Sohn Sang-hyun), Mobiltech (CEO: Kim Jae-seung) ** SK Telecom, Korea Land and Geospatial InformatiX Corporation, Korea Tourism Organization, Mercedes-Benz Korea, Hoban Construction Co., Ltd., Hana Tour, etc. Meanwhile, the event featured award ceremonies for 30 teams selected in the ‘2024 Discovery of Location Information-based Outstanding Business Models in Korea’ competition, which was held from July 11 to August 14. The Grand Prize for Ideas was awarded to the team of ‘Bag Guide.’ It is a short-form tourist content for foreigners visiting Korea. It combines short form content, a recent buzz word in society, with location-based services, providing video recommendations and experiences from actual users. Thus, it has garnered high praise, considering its potential new market creation and its positive impact on relevant industries. The Grand Prize for the Public and Safety type in the category of Business Development Support was awarded to MoveAWheeL. EG-Way is a comprehensive road information platform of MoveAWheeL. It provides real time road information, utilizing sound waves and AI-based sensors. It was highly regarded due to its independent technological development process and the detailed planning and implementation of its business development. In addition, the Grand Award for the Everyday Life-Oriented type was presented to Door Scanner by LBStech. Door Scanner is an app service that collects building information, including the location of restrooms inside a building, accessway (stairs, bumps, etc.), and types of gate for individuals with visual impairments and physical disabilities and the elderly. It earned high points for its contribution to improving the rights of mobility for individuals with limited mobility. Three Grand Award winners were presented with the KCC Chairperson’s Award while twenty-seven teams, including Excellence and Outstanding Awards winners, received the KISA President’s award. The total prize money amounted to 163 million won. Kim Tae-kyu, Acting Chairperson, said, in his welcoming remarks, “This event aimed to explore innovative business models based on location information and to support the actual commercialization of services as well as the facilitation of growth of start-ups and the attraction of investment intensively.” The Acting Chairperson stated, “The KCC will make diverse efforts to contribute to fostering a sustainable business ecosystem by strengthening collaboration between conglomerate and small and medium sized companies and by connecting the demands from public organizations with the innovative technologies of start-ups.” ### The Korea Communications Commission |
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