ULSAN < invest Korea

According to Yonhap News,

(ULSAN=Yonhap News) Ulsan City announced on October 18 that it attracted the Defense Venture Center that supports development of defense-related technologies and identifies and fosters promising SMEs and venture companies.

The Defense Venture Center is operated by the Defense Agency for Technology and Quality with the budget from the local government to foster SMEs and venture companies and support them make inroads into the defense market.

Ulsan Defense Venture Center will open in the industry university convergence district of the Ulsan Techno Park next January.

The City will provide KRW 400 million per year for the operational budget.

The Defense Agency for Technology and Quality currently is operating Defense Venture Centers in eight areas including Seoul, South Gyeongsan Province and Jeonju.

The Defense Venture Center supports venture companies that supplies core parts and materials for defense sector to start businesses, develop related technologies, localize and export.

canto@yna.co.kr

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Source Text

** This article was translated from Korean.

Source: Yonhap News (October 18, 2018)