SILICON VALLEY, USA — Throughout a two-day running beginning November 12 (U.S. Time), ‘K Tech@Silicon Valley 2012’ raised its curtain at Silicon Valley’s Marriot Hotel in the U.S. to publicize the Korean technological wave. The IT Convergence Conference was held as one of the events for the first day with the participation of 750 people, about 250 which were Koreans, including the CEOs of 37 Korean firms and about 100 U.S. buyers.
“We prepared this event to publicize Korea’s technological prowess and promote exchanges between Korean and U.S. companies in Silicon Valley,” said Kim Jae-hong, head of the New Growth Engine Department at the Korean Ministry of Knowledge Economy in his congratulatory message. “This event is particularly special as this year marks the 130th anniversary of the diplomatic relation between the two nations, and the first year of the Korea-U.S. FTA.”
Kim's message was followed by consular general Lee Jeong-gwan and Kish Rajan, director of GO-Business, California. Both Lee and Rajan hoped for a win-win partnership between Korea, the 12th largest economy in the world, and the State of California, the eighth largest economy in the United States.
“I hope that Korea and California will enjoy mutual benefits on the basis of the strong cultural, technological, and commercial alliance between the two,” said Representative Leland Yee of California.
Lee Hee-guk, CEO of the LG Institute of Technology gave a presentation on the expansion of IT convergence and future strategies as a key note speaker. “Many companies are now competing for a market that will triple its growth to US$3.8 trillion within ten years,” Lee said. “The defense, medical, and mechanical industries will account for more than 60% of overall demand for IT convergence.”
In addition, “Service, electronics, and software technology and networks, as well as IT infrastructures will enjoy a third of the IT convergence market, respectively,” Lee forecasted.
“Korea account for only 0.6% of the world’s population,” Lee added “But Korea produces 51.8% of memory chips, 53.8% of display panels, 33.4% of flat panel TVs and 27.5% of mobile handsets in the world, showcasing itself as an IT convergence powerhouse. Korea’s IT success can be credited to hardworking Koreans and fierce competition among Korean firms.”
The next key note speaker was Bradly Horowitz, product management VP of Google who said, “Considering Korea’s IT technology, human resources and industrial environment, Google will be able to cooperate more with Korea. Psy’s mega hit ‘Gangnam Style’ could become a worldwide sensation thanks to the global power of YouTube,” Horowitz said. “I hope that Korea will contribute to the IT industry, such as software through technological innovation.”
Last, Steve Westley, CEO of Westly Group made a presentation on clean tech IT conversion. “As the world is currently pursuing new and renewable energy sources, Europe and the U.S. are replacing 20% and 12% of their energy with new and renewable energy,” Westley emphasized. “IT convergence is and will play a pivotal role in developing and utilizing new and renewable energy.”
