GANGWON-DO < invest Korea

According to Yonhap News,

Taebaek-si, Gangwon-do signed the agreement on investment concerning relocation of companies and support with Kick the Hurdle, Yonghyun BM, and VM e-Korea on January 18.

Kick the Hurdle is a healthcare commerce enterprise, developing products of Plant Originated Lactic Acid Bacteria(POLAB) from natural resources.

Yonghyun BM is a manufacturer of key components for eco-friendly cars including auto motor parts and industrial valves, while VM e-Korea is a total e-mobility developing and manufacturing company.

They were awarded the grand prize, best excellence prize, and excellence prize in the 3rd Next Unicorn Project final round held in December last year, and plan to build research institutes and factories by 2024.

Next Unicorn is a mid-and long-term youth company fostering project, by Gangwon Land, Korea SMEs and Startups Agency, Mine Reclamation Corporation, Korea Foundation for Cooperation of Large&Small Business, Rural Affairs, and the Presidential Committee for Balanced National Development.

It aims to attract 21 youth enterprises and startups to abandoned mine areas in Gangwon-do for 7 years from 2019 to 2025.

Taebaek-si attracted 5 out of 6 award winners from the 1st and 2nd projects, and 3 out of 3 winners in this 3rd project.

byh@yna.co.kr

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Source: Yonhap News (January 18, 2022)