GANGWON-DO < invest Korea

Gangreung City, Gangwon Province has attracted many research institutes related to its strategic industries including ceramic new materials, marine bio and nonferrous metals as an effort to enhance its R&D groundwork.

According to Gangreung, about 10 research institutes from home and abroad including Gangreung Division of Korea Institute of Science and Technology (KIST) are being aggressively engaged in supporting R&D of Gangreung-based companies with 174 researchers.

The city has focused on strengthening R&D capabilities of companies in Gangreung Science Industry Complex by attracting Gangreung Division of KIST, Gangreung Center of Korea Food Research Institute and Gangreung Center of Korea Institute of Ceramic Engineering and Technology.

Gangreung's successful efforts to draw foreign research institutes including Austria's IPRI Korea Branch and Germany's Fraunhofer Institute for Process Engineering and Packaging have allowed Gangreung Science Industry Complex to play a key role in international science and technology exchange and to emerge as an industrial hub of Yellow Sea Rim area.

In addition, the establishment of magnesium smelting factory for POSCO in Okgye has elevated the status of the region as the mecca of the lightweight material industry.

Nine companies in Gangreung Science Industry Complex including RN2 Technology and Korea Synthetic Metal have been selected as Gangwon's leading businesses to get financial supports worth 12 billion won for three years from the Ministry of Knowledge Economy.

"Combined R&D activities of government-funded, foreign and private research institutes create synergy effects. We will continue our efforts to support R&D activities for companies in collaboration with renowned domestic and foreign research institutes," said a Gangreung official.

Source Text

Source: Yonhap News (June 15, 2012)

** This is the translation of a Korean article.