Gwangju City-Jeonnam-Naju City-Industrial Research Institute, Joint Research Commissioned Project Promotion

[Image source=Yonhap News]

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Metropolitan City announced on the 24th that on the 23rd, it signed a consignment agreement for a research project with Jeonnam Province, Naju City, and the Korea Institute for Industrial Economics & Trade, a national research institute, to study the establishment of the Gwangju-Jeonnam Joint Innovation City Development Fund and the establishment of a development foundation, and decided to proceed with the joint research consignment project.

This agreement is a follow-up measure to the agreement made on November 25 last year at the Gwangju-Jeonnam Win-Win Development Committee, where the heads of the three local governments?Gwangju City, Jeonnam Province, and Naju City?and the chairpersons of their councils agreed to jointly commission national research institutes to conduct a joint service for the establishment of the Gwangju-Jeonnam Joint Innovation City Development Fund and the establishment of a development foundation, and to faithfully implement follow-up measures based on the results.

The establishment of the development fund for the Joint Innovation City was agreed upon at the launch of the Gwangju-Jeonnam Joint Innovation City in February 2006, when the mayors of Gwangju, Jeonnam Province, and Naju City signed a performance-sharing agreement for the development and operation of the Joint Innovation City and agreed to create the development fund using local taxes paid by relocated public institutions as resources. However, the fund's establishment was delayed due to disagreements over the timing, scale, and other details of the fund formation.

With the signing of this agreement, detailed matters such as tasks were discussed with the Korea Institute for Industrial Economics & Trade, a national research institute, to derive fair and proper service results, and the agreement for conducting the research project was completed.

The Korea Institute for Industrial Economics & Trade will conduct studies on the establishment and utilization plans of the development fund and the feasibility investigation for the foundation establishment.

Going forward, financial analysis through accounting firms, timing of fund formation, resources and scale, usage, and establishment of fund management organizations will be investigated and studied. Additionally, the outline for the establishment of a complex innovation center to be built in the innovation city and the Innovation City Development Foundation, which is being considered as the fund management institution, will also be developed.

This content was produced with the assistance of AI translation services.