Owing to the COVID-19 pandemic, many corporations worldwide have been experiencing a reduction in sales for the last two years. Correspondingly, means of conducting business internationally have been severely impeded.
Despite national efforts to help domestic companies reach the international market, the disparity between pre-pandemic and post-pandemic outcomes has been quite obvious.
Yet even during these less than favourable times, Korean businesses “incubated” by the LA Times Asia Journal continue to be connected to businesses in Japan and prosper.
Korea’s GB Soft (developer of AI technologies that interpret camera images to identify such vital signs as blood pressure, oxygen saturation level, heart rate, and body temperature) signed an NDA with Japan’s Data Scope (a company that develops facial recognition software; it plans to collaborate with Taiwan’s Foxconn to set up a Shenzen Data Scope factory in China and globally distribute facial recognition cameras, security cameras, and the like). They continue to meet virtually at present, to discuss licensing and joint development agreements. This is a result of the LA Times Asia Journal facilitating the meeting of GB Soft and Elematec (a subsidiary of Toyota), and Elematec subsequently doing business with Data Scope.
Korea’s Infomining (developer of a system that uses an AI server to analyze one’s electrocardiogram, blood pressure, blood sugar, oxygen saturation level, heart rate, and body temperature gathered from a smart watch and relays the results to a smartphone) is working together with Japan’s OMRON (manufacturer of medical devices) and OMRON’s research laboratory in Dalian, China, to jointly develop innovative medical devices targeted at the Chinese market. An NDA is scheduled to be signed by the beginning of February. This too, is a result of the LA Times Asia Journal facilitating the meeting of GB Soft, Infomining, and Elematec, and Elematec subsequently doing business with OMRON.
Korea’s VODANA (manufacturer of hair straighteners and curling irons), Korea’s Emma Healthcare (manufacturer of Plasma Skincare Device), and Korea’s Skin Watchers (manufacture of cosmetics) have already completed their exports to Japan’s Clean First (Trading Company). Clean First, in partnership with Japan’s Toda (Trading Company), has scheduled its entry into Don Quijote (a Japanese discount store). They are also planning for sales on such online platforms as Japan’s Makuake (Cloud Funding company). This too, is a result of LA Times Asia Journal facilitating the meeting of VODANA, Emma Healthcare, Skin Watchers, and Clean First.
Like so, it is expected that the “Incubating System” put into place by the LA Times Asia Journal will continue to connect Korean and Japanese companies and to catalyze business activities between them.
Mike Choi
Asia Journal
