Creating venture company promotion zone

• By establishing infrastructure for nurturing small and medium sized venture companies, Pohang intends to foster an environment where venture companies can naturally develop due to local character of the venture valley, leading to enhancement in local economy and local industry structure

Business outline

• LocationHyoja-dong, Jigok, Nam-gu
• Construction area2,090,437㎡
• Construction cost8 billion 512 million won (national expenditure : 4,341/ local government expenditure : 4,171)
• Major tenant institutePohang TP, POSTECH, Research Institute of Industrial Science & Technology, Pohang Institute of Intelligent Robotics, POSTECH Venture Capital Corporation, Small Business Corporation Gyeongbuk Dongbu branch, 2 venture encouragement centers
• Main businessadvanced material, bio technology, electronics, robotics industry
• Main industryTP foundation, information infrastructure for nurturing high-tech industry

Types of moving-in busineses

Size of sales, job creation

Track record

• 2001. 3. 26 Designated venture company promotion zone
• Encouraged early commercialization of promising patent technologies through commercialization assistance
• With Pohang TP at its center, built systematic business cooperation system with local BI
• Supported the expansion of the market and the trading routes of the companies in the promotion zone
• Supported the production of trial products for 4 companies through technical evaluation
• Organized the conference for the development of Pohang venture company promotion zone seeking for the development direction and improved R & D outcome for advanced materials

Expectations

• Maximization of synergy creation through successful project allocation and promotion of joint venture projects and new national projects in the region (promotion zone); projects such as the construction project for shared facilities are of this type, where its efficiency is largely influenced by the establishment of contact networks among regional innovation bodies in the promotion zone, their ability to exchange information and the level of cooperation partnership
• Assistance in the commercialization of promising patent technologies, and in concentrated fostering of industries that are this region’s forte through joint research between the industry and academia
• Administration of management and technology assistance projects to foster venture companies in the promotion zone