The UK-APAC Tech Growth Programme recently orchestrated a successful trade mission to South Korea, providing six British technology companies with a platform to connect with prominent Korean corporations and research institutions.
According to program organizers, the British firms showcased innovative technologies in semiconductors and artificial intelligence (AI), garnering considerable attention from the South Korean market. Over 40 meetings were scheduled with companies including Hyundai Motor Group Korea, LG Electronics, Samsung Venture Investment, and SK Telecom, along with research organizations like ETRI and KETI. Follow-up discussions are currently underway as the UK businesses aim to progress commercial partnerships.
Backed by the UK Government’s Department for Business & Trade, the UK-APAC Tech Growth Programme offers free and subsidized support to UK tech firms seeking to expand into the Asia-Pacific region. The participating companies represented diverse sectors:
- Heronic Technologies: An Imperial College London spinout specializing in AI accelerator architectures.
- Monolith AI: A London-based creator of an AI platform that revolutionizes 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 modeling and simulation technology for enterprise, defense, and national security applications.
- Smartkem: A Manchester-based developer of next-generation organic thin-film transistors.
Beyond the business-matching meetings, the companies received an in-depth briefing on South Korea’s semiconductor and AI markets. They also presented their technologies to an audience of Korean corporations and government representatives.
Sam Emeny-Smith, Head of Automotive & Defence at Monolith AI, reflected on the mission, stating, “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.”
James Ashforth-Pook, CEO of Quinas Technology, added, “The mission proved an invaluable opportunity to connect with leading players and potential partners. 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.”
Intralink, the international business consultancy that manages the UK-APAC Tech Growth Programme, has identified South Korea as a rapidly expanding market for UK tech scaleups. The country, already the world’s second-largest chip producer, has announced plans to establish the world’s largest semiconductor supercluster in collaboration with Samsung Electronics and SK Hynix. Intralink has highlighted an opportunity for UK companies to support South Korea’s ‘upstream’ semiconductor ecosystem, which requires advanced technologies for raw materials and components. The country currently relies on international suppliers for these technologies.
The AI market in South Korea is also experiencing rapid growth, with an estimated annual growth rate of around 17 percent. The government has fueled this expansion through the launch of an AI Strategy Council last year and the injection of over £400 million into AI projects across various sectors. Intralink has identified several sectors presenting significant opportunities for UK AI companies, including:
- Manufacturing and robotics
- Cybersecurity and data protection
- Sustainability and climate tech
- Healthcare and biotech
The UK-APAC Tech Growth Programme assists high-growth UK technology firms in entering the Asia Pacific region. This program offers participating companies free and subsidized 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.
