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Ulsan city attracted 39 local hidden champions technologically innovative
The city of Ulsan announced on Jun 24 a success in attracting 39 local hidden champions who are technologically innovative for the first half of this year.
The city government said rising economic uncertainties associated with the coronavirus shock stifling trade and business across the world are forcing almost all businesses out there to be very careful about investment or business relocation, as part of sound liquidity risk management. Under such circumstances, the city hasn’t been scared of investment promotion activities, as for a business hub to accommodate local hidden champions.
They have modified the city’s ordinance on investment, secured space for tenancy, formed an investment attraction committee, supported VC startups and accreditation, run a separate team for investment promotion, discovered the next targets and hosted a series of IR pitching sessions.
Ulsan city, particularly starting from this year, has been raising R&D funds and cash grants to give them out small but technologically well advanced companies when they move into, which has led 39 hidden champions to arrive with a success rate of 71 percent for the past six months. The city government set a plan to embrace more hidden champions with full potential in different industrial fields such as knowledge-based value added services, future mobility technology, hydrogen-economy brought into Ulsan Free Economic Zone (FEZ), bio-healthcare solutions and 3D- printing technology in the second half of the year 2020, in addition to investment promotion activities that include non-contact IR pitching sessions, online marketing etc.
They said the authorities will build out bigger spaces to let businesses reside in Ulsan Technopark and Ulsan ICT Promotion Agency, city affiliates, while offering biz-support programs by each growth stage.
young@yna.co.kr
** This article was translated from Korean.
Date
2020.06.30
Views
371
According to Yonhap News,
The city of Ulsan announced on Jun 24 a success in attracting 39 local hidden champions who are technologically innovative for the first half of this year.
The city government said rising economic uncertainties associated with the coronavirus shock stifling trade and business across the world are forcing almost all businesses out there to be very careful about investment or business relocation, as part of sound liquidity risk management. Under such circumstances, the city hasn’t been scared of investment promotion activities, as for a business hub to accommodate local hidden champions.
They have modified the city’s ordinance on investment, secured space for tenancy, formed an investment attraction committee, supported VC startups and accreditation, run a separate team for investment promotion, discovered the next targets and hosted a series of IR pitching sessions.
Ulsan city, particularly starting from this year, has been raising R&D funds and cash grants to give them out small but technologically well advanced companies when they move into, which has led 39 hidden champions to arrive with a success rate of 71 percent for the past six months. The city government set a plan to embrace more hidden champions with full potential in different industrial fields such as knowledge-based value added services, future mobility technology, hydrogen-economy brought into Ulsan Free Economic Zone (FEZ), bio-healthcare solutions and 3D- printing technology in the second half of the year 2020, in addition to investment promotion activities that include non-contact IR pitching sessions, online marketing etc.
They said the authorities will build out bigger spaces to let businesses reside in Ulsan Technopark and Ulsan ICT Promotion Agency, city affiliates, while offering biz-support programs by each growth stage.
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young@yna.co.kr
Source: Yonhap News (Jun 24 , 2020)
** This article was translated from Korean.