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What Benefits Will Our Company Gain by Moving to Innovation City? Investment Seminar on the 25th
- Announcement of support contents and linked cooperation support projects per innovation city at the 10 innovation cities joint seminar
- Total of 10 PR booths operated per each innovation city... Expected to attract practical and customized investments
□ MOLIT (Minister Kim Hyun-mee) will host the ‘2019 Innovation City Investment Seminar’ at the Suncheon Bay Ecology and Culture Education Center at 14:00 on September 25 (Wed).
ㅇ About 120 persons from the 10 innovation cities nationwide, companies, public agencies that moved, and from the industrial, academic and research sectors participated in connection with the ‘2019 Korean Balanced Development Expo’ (Sep 25 – 27).
□ This seminar was organized to share excellent cases of attracting investments by each innovation city in relation to the pursuance of ‘Innovation City Season 2’ and to spread information on the advantages of innovation cities for business activities with the goal of promoting companies to move to the innovation cities
ㅇ This year, investment attraction PR booths for each of the 10 innovation cities around the nation will be operated for three days from September 25 to 27 to provide consulting for industry-academic-research complex-linked cooperation support projects and to provide information on various supports of innovation cities to companies and persons planning to start businesses around the nation who visits the Balanced Development Expo.
ㅇ The investment seminar will be presented by MOLIT on the ‘innovation city company move-in and promotion plans’ focusing on the industry-academic-research complexes, followed by a special presentation by the Korea Research Institute for Human Settlements on ‘Ideal Future and Development Direction of Innovation City’ and then the ‘Excellent Cases of Attracting Investments by Innovation Cities’ by the Busan and Gyeongnam Innovation Cities.
ㅇ In particular, the Korea Appraisal Board, Korea Gas Corporation and the Korea Food Research Institute will present outstanding cases with the cases of public agencies that were moved actively supporting companies in innovation cities so that such exemplary cases can be spread to other public agencies that moved to the innovation cities.
□ The government has set national balanced developed as a core task since 2003 and it has been pursuing innovation city policies with the goal of ‘innovation-leading regional development’ through the coexistence of the capital area and provincial areas.
ㅇ A total of 10 innovation cities were constructed around the nation and by pursuing public agencies located in the capital to move to other provincial areas, 152 out of 153 public agencies that decided to move have completed their move.
ㅇ According to the innovation city general development plan*, the population growth rate (5.4%) over the past five years (2012-2017) of seven innovation cities excluding innovation cities located in metropolitan cities such as the Busan, Daegu and Ulsan Innovation Cities, were three times higher than the national population growth (1.6%) in the same period.
- The local tax income of the 10 innovation cities also increased from 22.3 billion KRW in 2012 to 381.3 billion KRW in 2018, thus growing by 17 times, and therefore, it can be said that the effects of regional development with the construction of innovation cities is becoming more and more visible.
＊ Establishment of innovation city general development plans (Oct 2018, MOLIT)
ㅇ Furthermore, there were 1,017 companies that moved to the 10 innovation cities up until the first half of this year, and this is a 77% increase compared to the first half of 2018 (574 companies), and in particular, a total of 17 companies moved from the capital area to innovation cities.
□ MOLIT Innovation City Development Task Force, Vice Chief Joo Hyun-jong said, “We are planning to focus on fostering the innovation city as industry-academic-research complexes to develop it into regional growth bases, and we will cooperate with local governments and public agencies that moved to the areas to provide full administrative and financial support for companies that move to the innovation cities.”
ㅇ He also stated, “We revised the guidelines for supporting lease fees and interest expenses for purchasing sites by companies and research centers that move to innovation cities since July, and in the case of industries associated with the public agencies that moved to the innovation cities, the scope was increased so that support may be received for the entire innovation city.”
ㅇ “As this investment seminar is a meaningful event where various and valuable information related to investing in innovation cities will be exchanged, we hope that companies around the nation and people planning to start their own business will participate and make continuous investments and show continued interest.”
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