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According to Yonhap News,
The East coast Free Economic Zone (EFEZ) Authority announced on February 11 that it will push for creation of EFEZ innovation ecosystem in earnest.
The EFEZ Authority was selected in public contest for FEZ innovation ecosystem creation hosted by the MOTIE to foster FEZ as a base for regional innovative growth.
As a result, it secured a total project budget of KRW 470 million, and work on innovation ecosystem creation project for 2 years in earnest.
The share of national budget is 70%.
The goal of this project is to establish an innovation cluster and industrial ecosystem to foster the EFEZ as a hub of regional innovative growth.
To this end, it will work to discover special regulation exception within FEZ, hold a business roundtable, and attract investment.
In addition, it will support strengthening of technological & market competitiveness of companies moved in or to move in the EFEZ.
yoo21@yna.co.kr
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Source: Yonhap News (February 11, 2022)
** This article was translated from Korean.