ULSAN < invest Korea

According to Yonhap News,

The city of Ulsan announced the launch of its project on My 20 to form a ‘Ulju R&D Special Zone’, designed particularly to foster highly promising local tech-companies, under a slogan to facilitate an industry cluster which creates disruptive technological breakthroughs and virtuous circle that ensures commercial viability of the battery and material-parts-equipment technologies that could power the future for those full of entrepreneurial spirit, thereby creating quality jobs and improving community development.

The Ulju R&D Special Zone will also take the role of supporter, helping develop technologies for high-performance secondary batteries, hydrogen fuel cells and PV cells, along with lightweight complex material and smart component manufacturing, essential to battery efficiency.

At the declaration ceremony, there has been an MOU signing session among 18 private-public entities to form an association responsible for information sharing, co-organization and management of business commercialization and pre-feasibility research to identify potential market demand and usability.

Prior to the service inauguration, the Ministry of Science and ICT (MSIT) has grouped three separate facilities- Ulsan National Institute of Science and Technology (UNIST), Ulsan Bancheon industry cluster and Ulsan HIghtech-Valley industry cluster across 3.01㎢ site and designated it as the R&D zone in July.

As such, the R&D zone is planning to spend annual budgets equivalent, in value, to nearly KRW 7.2 billion on turning UNIST into a tech-hub, specializing in producing the future batteries and a couple of other business support projects that entails technology evaluation, tech-transferring and startup incubator programs.

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Source:Yonhap News (May 20, 2021)