According to the mission’s organisers the innovative semiconductor and artificial intelligence (AI) technologies showcased by the UK companies sparked significant interest among Korean corporations.
Korean companies including Hyundai Motor Group Korea, LG Electronics, Samsung Venture Investment and SK Telecom, as well as research institutes ETRI and KETI met with the UK companies as part of the UK Government’s Deep Tech Trade Mission to Seoul.
Follow up discussions are now underway, seeking to progress commercial partnerships.
Backed by the UK Government’s Department for Business & Trade, the UK-APAC Tech Growth Programme provides free and subsidised support to UK technology firms looking to enter one or more of 11 major markets in the APAC region.
The UK companies which took part in the trade mission are:
Heronic Technologies – an Imperial College London spinout specialising in AI accelerator architectures
Monolith AI – a London-based creator of an AI platform that revolutionises battery and automotive R&D testing
Quinas Technology – a Lancaster University spinout using compound semiconductors and quantum mechanics to develop ultra-efficient universal memory solutions
Teraview – a Cambridge-based company pioneering the use of terahertz light for spectroscopy, semiconductor and coatings imaging systems
Skyral – a London-based developer of advanced modelling and simulation technology for enterprise, defence and national security applications
Smartkem – a Manchester-based developer of next-generation organic thin-film transistors
In addition to the business matching meetings, the companies were given an in-depth briefing on the semiconductor and AI markets in South Korea and the opportunity to present their technologies to an audience of Korean corporations and government representatives.
Sam Emeny-Smith, Head of Automotive & Defence at Monolith AI, said: “This was an incredibly valuable experience. The opportunity to meet company representatives face-to-face allowed us to have deep, insightful conversations about the challenges they face and learn how AI-powered engineering could help. And the interest we received was remarkable, with companies eager to explore how our technology can accelerate innovation in the semiconductor industry. We’re looking forward to continuing discussions with several.”
“The mission proved an invaluable opportunity to connect with leading players and potential partners,” said James Ashforth-Pook, CEO of Quinas Technology. “We were delighted to hold discussions with many South Korean and research institutes. The pace of deep-tech innovation in South Korea is remarkable and our focus is now on advancing fabrication partnerships and securing investment to accelerate the path of bringing our patented memory technology to market.”
Specialists at Intralink, the international business consultancy delivering the UK-APAC Tech Growth Programme, report that South Korea is a rapidly expanding market for UK tech scaleups. Already the world’s second-largest chip producer, the country’s government has announced plans to establish the world’s biggest semiconductor supercluster in partnership with Samsung Electronics and SK Hynix.
Intralink has identified a particular opportunity for UK companies to support South Korea’s ‘upstream’ semiconductor ecosystem, which requires advanced technologies for raw materials and components such as silicon wafers, chemicals, gases and photomasks. The country depends on international suppliers for these technologies, and it believes UK innovators are well-placed to provide them.
The AI market in South Korea is also experiencing rapid expansion, with annual growth of around 17%. The government fuelled this growth with the launch of an AI Strategy Council last year and the injection of more than £400 million into AI projects across a range of sectors.
According to Intralink, the sectors presenting the most significant opportunities for UK AI companies are:
- manufacturing and robotics
- cybersecurity and data protection
- sustainability and climate tech
- healthcare and biotech.
The UK-APAC Tech Growth Programme helps high-growth UK technology firms expand into the Asia Pacific region and provides participating companies with access to free and subsidised market entry guidance, business development support and connections with potential partners and customers across 11 APAC markets: Japan, Taiwan, South Korea, Singapore, Vietnam, Malaysia, the Philippines, Thailand, Indonesia, Australia, and New Zealand.
UK firms can find out more about these markets and the programme provided by Intralink by using the link below.
