South Korea transitioned from being one of the world's poorest countries to a member of the OECD.
And the major pillar of this change, the so-called "Miracle on the Han River", was the electronics sector.
With the industry marking its 60th anniversary, the country's biggest annual electronics show kicked off today, and our Lee Kyung-eun was there.
This is where a 60-year miracle began.
Back in 1959, the only electronic device in South Korea was the radio,… but now, it boasts an extraordinary spectrum and quality of technology, from AI to semiconductors.
Marking the 60th anniversary of the country's electronics sector, the annual Korea Electronics Show kicked off in Coex.
"South Korea's tech industry is facing a number of threats,... including the ongoing U.S.-China trade spat and Japan's export curbs.
But this year's Korea Electronic Show is again a bustling event with South Korea showing it is still a global powerhouse of innovation."
Booths have been set up by some five-hundred local firms at the center of this innovation.
The tech giants Samsung and LG are displaying the world's first foldable smartphones and rollable TVs, and start-ups have brought out their original products, including a mirror that uses facial recognition AI to check the user's health.
Running through this Friday, the show is expected to attract more than seventy-thousand visitors, and they say this event is special.
These technologies not only benefit the lives of ordinary people, but also national security.
"We've teamed up with the defense ministry to make car relays that replace mechanical switches with semiconductor switches. This way, they're much lighter, safer and cheaper for both vehicles and tanks."
Thanks to these technologies, the electronics sector have been the country's biggest export for 30 consecutive years.
Now, South Korea's next task is to continue the momentum.
With global competition and external threats increasing, South Korean Prime Minister Lee Nak-yon, in speech at the show, stressed the importance of trilateral cooperation.
"Joint cooperation among the government, conglomerates and start-ups is critical for South Korea to maintain its advantage in the global race for innovation, particularly in localizing the production of parts and equipment while diversifying trade partners."
The show is expected to contribute to achieving those goals by providing a platform that bring together interest groups from home and abroad.
Lee Kyung-eun, Arirang News.