'International standards lead SMEs to success'
Delegates discuss issues related to international standards during a meeting at the Lotte Hotel in central Seoul, Monday. / Courtesy of Korean Agency for Technology and Standards
By Park Si-soo
Many small- and medium-size enterprises (SMEs) in Korea have grown rapidly after turning their self-developed technologies into international standards. And there are many more SMEs in Korea competitive enough to follow suit.
But these promising companies used to lack awareness, commitment and, above all, the budget to get their technologies recognized internationally, which cost them opportunities to rise as major players in their respective industries, according to experts.
They called on SME leaders to be self-motivated, understand the importance and value of international standards and make continued investments in them, although it takes time to see returns.
They also urged the government and relevant state bodies, including the Korean Agency for Technology and Standards (KATS), to set aside a sufficient budget and workforce to help promising SMEs.
According to data from the KATS, at least five SMEs have successfully registered their self-developed technologies as international standards. The registration has awarded them greater access to overseas markets.
HCT, a tech startup, is one of the model cases. The firm’s two technologies used to make toxicity test chambers were recognized as industrial standards by the International Organization for Standardization (ISO).
This recognition has paved the way for the company to sell its products and technologies to clients at home and abroad. The firm received a presidential medal for that achievement in 2013.
LMS, a KOSDAQ-listed tech company, is another case. The firm has several technologies recognized by the ISO and other international standardization organizations, including the International Electrotechnical Commission, which enabled the company to strike supply deals with Samsung Electronics, LG Electronics and other global players.
K-Joins owns several ISO-registered semiconductor technologies, with which the company was able to clinch a deal with German tech giant Siemens.
Techsphere has exported its ISO-registered biometric data verifying technologies to Japan’s Sony, Hitachi and Fujitsu.
Humax has developed several international technological standards for coded representation of digital audio and video and related data, with which it has grown as a promising mid-sized tech company in Korea.
“Making one’s technology an international standard is like harvesting sweet fruit in autumn after much time, hard work, investment and patience during previous seasons,” said a KATS official. “It takes time and money. Especially for SMEs, it’s a pretty challenging task. But I think this is valuable work in many ways and, above all, it will pay off in the end.”