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Cheongju Inno Town vision declared, as the hub of innovation to lead 4th Industrial Revolution

According to Yonhap News,

(CHEONGJU=Yonhap News) Chungbuk-do held a ceremony declaring its vision of "Chungbuk Cheongju Inno Town" at Grand Plaza Cheongju Hotel on August 21.

As the vision for Cheongju Inno Town, Chungbuk-do proposed "The base for the Fourth Industrial Revolution, and innovation of smart IT parts and systems".

It also announced strategies for implementation including: operation of Chungbuk-style technology commercialization system; creation of commercialization linked R&BD hub in close relation with academia and industry; expansion of infrastructure to support innovation; improvement of settlement condition suited for the youth.

Specifically, it will support technology commercialization by running a Chungbuk-specific commercialization model, building a network of innovative organizations and companies, offering support systems such as local tax breaks, among others.

It will also step up support for technology demonstration and product manufacturing by expanding support infrastructure, such as construction of autonomous vehicle test-bed and demonstration complex, 5G-based VA, AR manufacturing center.

With the Inno Town, it plans to lead future growth engine industries including system semiconductor, future cars.

On the event, there was also MOU signing ceremony between Chungbuk-do, Cheongju-si, Chungbuk University and four companies including Howat, Howard Lab, Nepes, Ubicomm to establish INNOPOLIS Research Institute Spin-off Company within Cheongju Inno Town.

INNOPOLIS Research Institute Spin-off Company is a core institute in commercializing the outcomes of public research centers within Inno Town.

Chungbuk governor Lee said, "We will not spare any administrative and financial supports to turn Cheongju Inno Town into the hub of innovative growth, leading the fourth industrial revolution of Korea."

Ministry of Science and ICT confirmed the designation of Cheongju Inno Town on June 19.

Cheonju Inno Town is centered on Chungbuk University (Technology core institute, 1.41㎢), covering part of Ochang Science Industry Complex (Hinterland for technology commercialization, 0.79㎢).

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Source Text

Source: Yonhap News (August 21, 2019)

** This article was translated from Korean.


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