Call for Universities to Participate in the 'Campus Innovation Park' Project... Final Selection of 2 Institutions

Application Submission Starts from the 19th
Two Universities Outside Seoul Selected
Support for Construction Costs of Industry-Academia-Research Innovation Hub

Aerial view of Gangwon National University Campus Innovation Park 'Industry-Academia-Research Innovation Hub' (Photo by Ministry of Land, Infrastructure and Transport)

[Asia Economy Reporter Moon Jiwon] The Ministry of Land, Infrastructure and Transport, the Ministry of Education, and the Ministry of SMEs and Startups announced on the 17th that they will hold a public contest to select two universities to participate in the 'Campus Innovation Park Project.'

The Campus Innovation Park Project designates idle university land as urban high-tech industrial complexes, providing affordable office space to startup companies and others, while creating a complex of residential, cultural, and welfare facilities.

The purpose is to foster idle spaces within university campuses as innovation growth hubs, create high-tech industry jobs preferred by young people at universities, and establish a virtuous cycle structure for university development.

This public contest is the second one following the pilot project contest held in 2019. Since the competition rate was about 10 to 1 during the pilot project, the government expects many universities to participate this time as well.

Previously selected pilot project universities?Hannam University, Hanyang University ERICA Campus, and Kangwon National University?have all been designated as urban high-tech industrial complexes and are proceeding with the project normally.

This year’s project has some changes in the contest conditions compared to the pilot project.

First, since it is difficult for universities in urban areas to secure new sites, this time the use of existing buildings within the university is also allowed. The land area of existing buildings must be less than 50% of the total industrial complex area and must be utilized in line with the purpose of the Campus Innovation Park.

Also, unlike the pilot project, the project can be jointly implemented with other public institutions such as local public corporations in addition to the Korea Land and Housing Corporation (LH).

To enhance the project’s effectiveness, the evaluation scores for 'Development Feasibility as an Industrial Complex' (from 25 points to 30 points) and 'Local Government Administrative and Financial Support Willingness' (from 10 points to 15 points), which assess the linkage between government policies and the project, will be strengthened.

Universities and industrial universities not located in Seoul can apply for the contest. According to the Industrial Location Act, Seoul cannot be designated as an urban high-tech industrial complex to prevent population overcrowding.

The government plans to select the final two universities through written evaluations, on-site inspections, and comprehensive evaluations conducted by an evaluation committee composed of private experts.

The selected universities will receive support for the construction costs of the urban high-tech industrial complex and part of the construction costs for the 'Industry-Academia-Research Innovation Hub' to be used as corporate occupancy space.

Detailed information about the contest can be found on the websites of the three ministries, including the Ministry of Land, starting from the 18th. Applications will be accepted from the 19th, and the selection process will be completed by the end of March.

A government official said, "The three universities selected in the existing Campus Innovation Park pilot project are all progressing smoothly and have established themselves as regional innovation spaces," adding, "We plan to discover excellent projects in this contest as well and nurture them as successful models."

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