Research Institute Company Surpasses '900'... Innovative Research Enterprise

[Asia Economy Reporter Junho Hwang] The number of research institute companies, a representative innovation company model in research and development special zones, has increased to 900 after 14 years. The Ministry of Science and ICT and the Research and Development Special Zone Promotion Foundation announced on the 24th that they recently selected the 900th research institute company.

A research institute company refers to a company established within a research and development special zone by investing more than 10-20% of its capital to commercialize the research achievements of public research institutions. Starting with Kolmar BNH Co., Ltd. in 2006, a total of 900 companies have been selected up to this year with Tronics Co., Ltd.

The total sales of research institute companies amounted to 550.7 billion KRW as of the end of 2018, with 3,470 employees. The survival rate after five years of establishment is 66.7%, and three companies have been listed on KOSDAQ as of last year. Additionally, many research institute companies have contributed to revitalizing the regional economy by achieving remarkable growth through investment attraction, global expansion, and mergers and acquisitions (M&A).

Jeong Byeong-seon, the 1st Vice Minister of the Ministry of Science and ICT, encouraged the company by awarding the research institute company registration certificate to Tronics Co., Ltd. at the Government Sejong Complex, saying, "We expect it to become a central company for regional economic revitalization."

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