ULSAN < invest Korea

According to Yonhap News,

Ulsan Eco-Friendly Clean Technology Center’s support for R&D activities and companies has generated outstanding results.

According to Ulsan Eco-Friendly Clean Technology Center on February 23rd, it provided support for R&D activities and technology advancement to 121 companies in Ulsan last year which has led to the sales increase by KRW 30.6 billion, cost reduction, and greenhouse gas emissions reduction by 68,000 tons, and patent applications.

Application for a total of 17 patents was made including nine domestic patents and eight foreign patents. Three technologies among the patents applied for are recognized as global ones.

Eight companies including Dongnam Group are certified as new growth companies with sales growth of over 7% or technology innovation companies.

Dongnam Group, an automotive components manufacturer, succeeded in producing key components of automatic transmissions domestically, generating new sales of KRW 25 billion and about 70 jobs. The company has grown into one of the top ten valve body companies which is attributable to the support of Ulsan Eco-Friendly Clean Technology Center.

Also, 41 theses were published at home and abroad.

Ulsan Eco-Friendly Clean Technology Center plans to push forward the Natural Gas Hydrate (NGH) project with the support from the Ministry of Knowledge Economy by next year.

The project is to develop technologies to transport LNG, which is normally conveyed at 162 degrees below zero, at 15 degrees below zero by solidifying LNG.

If the project is successful, the cost to transport LNG will be reduced and small and medium gas fields scattered around the world will be developed.

Director Kim Eok-su of Eco-Friendly Clean Technology Center said “we generated remarkable results and established a company support system last year,” and added “we will be able to help small- and mid-sized companies in the region to hire talented human resources and develop technologies, when the construction for the Center and equipment is completed in 2012.”

Ulsan Eco-Friendly Clean Technology Center is a branch of Korea Institute of Industrial Technology (KITECH) and its office is in Ulsan Techno Park, Yugok-dong, Jung-gu. The Center nurtures regional and environmental industries and supports companies in coping with effects from the international climate change convention. The office building of the Center is under construction on the area of 8,000 m² within Techno Park.

Source Text

Source: Yonhap News (Feb. 23, 2011)

**This is an English translation of a Korean news article.