2018 Tech Trends
Startup Radar will be heading to CES 2018 and this will be a great preview of the world’s biggest tech show the future tech trends of 2018. However, Korea is unlike the world and Korea’s trends tend to be different from the world. CES 2018 can be a great preview because of the massive tech news and debuts that will be happening in Vegas. All the leaders in most major tech categories will be there. As well as the tech giants such as Samsung and LG. Every company these days seem to want to be called tech companies. More and more companies are incorporating tech. Therefore, it is important to know the trends. Here are the top 5 tech trends in Korea for 2018.
5) Robotics
Koreans are crazy about the robot vacuums, hoverboards, and their robot coffee makers but expect to see “actual” robots in 2018.
Drones were a big hit in Korea in 2016 and 2017 but the use of actual robots was very limited. Incheon International Airport currently has robots created by LG Electronics. These robots will assist passengers to find their gate or lounge and has been running since July of 2017. These robots actually look like robots! They even have LCD screens that show information and can navigate by itself using cameras and laser sensors. They have the ability to recognize their voice and process language.
With the 2018 Winter Olympics taking place in Pyeongchang, Korea, the Korean government is looking to showcase their robot technology to the world. It will be very interesting to see what kind of robot technology they will be showcasing. South Korea overall has the highest level of robot density in the world mainly due to Hyundai and other automotive industries.
Expect 2018 to bring a whole new wave of robots that actually LOOK like robots whether it is for your home, workplace, or event.
4) AR/VR
You would think after seeing how successful Pokemon Go was in Korea, that companies would be going crazy for AR/VR technologies. However, while AR/VR might be a sexy industry it is very hard to have it make a massive impact on society. VR headsets are too bulky and very few have it. AR technology while fun and creative have not been fully utilized to its full potential. The key will be the developers as they transition into AR/VR and start using their talent to build more applications related to AR/VR.
That should be the trend in 2018, more software rather than hardware. Korean companies will look to enhance user experiences through AR whether it be inside their stores or for them to experience at home. VR might still be a few years away because while Korea is trying to showcase more VR with VR Zones at COEX or conferences, the masses have not fully embraced it. As for myself whenever I try VR, I get motion sickness which has turned me off to VR at the moment. VR can even be seen at Lotte World for many of their rides.
South Korea top VR company might be Vive Studios which was founded in 2003. They have focused mainly on special effects, web cartoons, and CGI. It seems like they were waiting to see what Facebook will do with VR and Oculus so they have been in wait and see mode. They have recently started to make VR content for games and movies and that trend looks to continue in 2018. It might be possible to see a VR movie at CGV in late 2018! These VR theaters will have 4 screens and can hold up to 8 people.
3) AI
AI is popping up everywhere in tech. Korean startups that don’t use A.I. will not be able to compete with those that do. Virtual assistants and chatbots are on many new Korean startup platforms. As machine learning advances there could be a slight shift in 2018 as far as worker demand. The fear of the Korean government has always been the displacement of jobs. South Korea has come a long way since the Korean War and has advanced so far thanks to innovation and entrepreneurship. This is why more than ever the Korean government needs to push for even MORE innovation and entrepreneurship.
The first AI Industrial town will start getting built in 2018 in Gwangju which is south of Seoul. It should be finished by 2019. Through this, the National AI Research Institute will be established as well as AI Campus to help the AI startup ecosystem and train them in the skills required when it comes to AI technologies. Hopefully, this will create an estimated 1,000 AI startups and over 5,000 NEW jobs in Korea. The city anticipates the new complex will help create 1,000 AI start-ups and 5,000 jobs.
As for big companies like Samsung and LG, the trend of putting AI into everything from refrigerators to lighting will continue. New products produced in 2018 will have some form of AI attached to them. They will at the same time continue their R&D into AI. LG Electronics already created an AI research lab and even Naver is looking for AI talent in Silicon Valley.
Finally with tensions rising with North Korea, look for news of the South Korean government using AI for their Military. They will do this to make better decisions with their ability to analyze geographic data, mapping, and weather data. AI can also be used to analyze the enemy and gather information. Then they can take the right course of action. This might sound scary to many but this is where AI is headed. This is not just in Korea but all over the world.
2) Blockchain
Bitcoin really went crazy in 2017. Now everyone seems to be talking about it. Blockchain overall is about securing information and decentralization. This is why banks are so afraid of blockchain. This is because it pretty much gives power back to the people. Korean blockchain startups are being innovative in many industries. Platforms like Korbit make it easy to convert cash to bitcoin and other cryptocurrencies like Ethereum. Another Korean Company called DAYLI Financial Group is working on ways to improve trading digital currencies as well as data information.
Blockchain is all about cutting out the middleman and there are Korean startups ready to explore the possibilities of Blockchain in 2018. The conditions in Korea for blockchain are great with their high-speed internet, strong and growing economy and a push for the 4th industrial revolution from the Korean government. Having a strong blockchain network in Korea can help Korean startups go global. As more and more people in Korea start to understand blockchain technologies the more they will start to look at it as more than an investment.
Late 2017 saw the Korean government was going to crack down on bitcoin transactions. They are looking to make regulations regarding trading of cryptocurrencies. Traders of cryptocurrency in Korea will now need to have a registered account. In addition, these accounts will require bank account information. How this will affect blockchain in Korea for 2018 is anyone’s guess. Because there is a lot of legal battles happening at the moment which probably won’t be taken care of in 2018.
1) IoT
IoT is all around us. Especially in Korea, whether it be “smart” toys, clocks, etc. It is only a matter of time before everything from refrigerators to toilets will be connected to the web! Over 6 million Koreans have subscribed to IoT services in 2017. These services include remote controlling, vehicle controlling, wearables, PC tablets, and mobile payment solutions. By 2021 it is reported that the IoT market will be a $1.5 trillion dollar industry.
In Korea, the main focus of IoT will go to the smart home. Mobile companies in Korea are working with construction companies to set up new smart homes all across Korea. For example, SK telecom helped build 70 smart home services that are connected to their voice assistant called NUGU. Soon NUGU speakers will come with every new home purchased in Korea.
KT has partnered with LG and Samsung to make appliances connectable to the web. This will be done through their voice assistant speaker GiGA Genie. This trend will continue as you will see more and more partnerships formed between telecommunication companies and construction companies in 2018.
