GANGWON-DO < invest Korea

According to Yonhap News,

Gangwon-do and Chuncheon-si are pushing for the designation of a 'InnoTown' for the development of the bio industry.

This is to innovate the bio industry, the foundation of the regional industry, by specializing the local bio convergence new material projects and technology commercialization.

InnoTown is a system that designates and fosters R&D special zones centered on major local institutions such as universities, research centers, and public corporations.

Kangwon National University will be in charge of the overall operation of the project, while Chuncheon Bio Town, Hupyeong General Industrial Complex, Geodu Agricultural Industrial Complex, and Namchuncheon General Industrial Complex District 1 will be used as the hinterland.

The designation of InnoTown is said to be made by the government around April.

An official from Chuncheon-si said on January 19 that "If this area is created as InnoTown, it is expected that it will become a R&BD hub related to bio convergence new materials by investing a total project budget of KRW 19.2 billion (including KRW 16 billion fnational budget) in five years."

hak@yna.co.kr

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Source: Yonhap News (January 19, 2022)