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Gov't to Invest KRW 83 Bn for Research and Development Special Zone
According to Yonhap News, 

(SEOUL=Yonhap News) The Ministry of Science, ICT and Future Planning and the Innopolis Foundation will invest KRW 83 billion to promote Research and Development Special Zones.

Designated by the government, the Research and Development Special Zone is a place where local universities, research institutes, and businesses work together to produce tangible results. Five such zones are currently in operation in Deajeon, Gwangju, Daegu, Busan, and North Jeolla.

This year's main goal is to help companies who received public technology manufacture real products. KRW 30.3 billion will be injected for this commercialization project.

The government will also bolster investment in research institutes. KRW 22.6 billion will be funded to commercialize technologies developed by research institutes in addition to KRW 8.2 billion spent for establishment and growth of such institutes.

Innopolis Campus, which identifies business startup items and provides relevant training, will receive KRW 4.5 billion. KRW 2.6 billion will be spent for accelerating of promising startups and additional KRW 1.7 billion will be allocated for their overseas expansion.

Detailed information and application can be found on the website of the Science Ministry ( and Innopolis Foundation (

The ministry and foundation will give presentations to introduce details of their project on January 24 and February 2 in five cities where the national special R&D zones are located.

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Source Text

Source: Yonhap News (Jan. 23, 2017)

** This article is translated from Korean.

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