Innovation City Relocation Agencies Confirm This Year's Regional Development Plan... Focus on Talent Recruitment and Local Contribution

Ministry of Land and Relocated Agencies Join Forces to Boost Economy and Activate Local Talent
Relocated Agencies Implement 3,353 Projects This Year in 10 Innovation Cities
Investment in Local Industry Development (43.1%) and Regional Economic Contribution (36.6%) Sectors

[Asia Economy Reporter Kangwook Cho] This year, relocated public institutions will implement a total of 3,353 projects in 10 innovation cities and other areas to promote regional development through fostering local industries, hiring local talent, supporting residents (regional contributions), and prioritizing the purchase of local goods. In particular, many investments are planned in the areas of fostering local industries (43.1%) and contributing to the local economy (36.6%, purchasing local goods), raising expectations that public institutions relocated to innovation cities will play a significant role in regional development.

The Ministry of Land, Infrastructure and Transport announced on the 3rd that 152 public institutions relocated to innovation cities have established and finalized this year’s regional development plans. The ministry and public institutions plan to create jobs for local talent and revitalize the local economy through these efforts. According to Article 29-3, Paragraph 1 of the Innovation City Act, relocated public institutions consult with local government heads to establish and implement regional development plans annually.

Looking in detail, Busan Innovation City reflects the characteristics of relocated public institutions in the finance and maritime sectors. The Korea Asset Management Corporation is remodeling the former Dongnam Statistics Office building in Busan to create a youth startup hub fostering Busan’s specialized industries such as maritime, video, and gaming. Korea Southern Power is supporting clean energy innovative SMEs by providing renewable energy technology and research equipment support to small and medium enterprises, and the Korea Institute of Ocean Science and Technology plans to continuously operate the Advanced Marine Industry Open Lab, a platform for industry-academia-research cooperation in marine science and technology, to support the discovery of new marine industries and technology development.

Daegu Innovation City will carry out various regional contribution projects to support local residents. Korea Gas Corporation is promoting regional revitalization centered on eco-friendly energy industries such as natural gas and hydrogen by implementing a green energy campus construction project. The Korea Student Aid Foundation operates a startup-support dormitory that provides housing and startup support in one space so that local university students can focus solely on entrepreneurship. The National Information Society Agency selects nearby living idle spaces such as community centers and libraries as ‘digital learning centers’ and conducts digital competency enhancement education for residents in the Daegu area.

Gwangju-Jeonnam Innovation City is centered on relocated public institutions in the power sector. Korea Electric Power Corporation (KEPCO) is creating an energy valley by supporting technology transfer, research and development (R&D), market development, and workforce training for energy valley companies. KEPCO KPS operates a program supporting technology standardization for SMEs by providing calibration support for measuring equipment and quality education to small and startup companies. The Korea Creative Content Agency actively participates in promoting local food purchasing and supply by mandating the use of local food in cafeteria contracts and utilizing the Jeonnam local food direct market.

Ulsan Innovation City highlights the characteristics of relocated public institutions in the energy sector. Korea National Oil Corporation is revitalizing the Ulsan regional economy by creating an eco-friendly convergence cluster, including a floating offshore wind power complex by recycling the Donghae gas field platform. Korea East-West Power is promoting the installation of solar power systems under the ‘Love Sunlight Energy’ project to improve welfare for underprivileged groups, and the Korea Workers’ Compensation and Welfare Service is pushing forward the construction of a specialized public hospital for industrial accidents in Ulsan with 300 beds, 18 medical departments, and 585 staff members.

Gangwon Innovation City is promoting regional development projects fostering the medical and tourism industries. The National Health Insurance Service is establishing a senior-friendly product demonstration and research center to support technology development for local medical device companies, operating an exhibition and experience center for senior-friendly products, and training personnel to create a hub for silver medical devices. Korea Resources Corporation provides domestic resource industry loans and employment incentives to mining companies in the province, and the Korea National Park Service is revitalizing underdeveloped areas by creating ecological experience and education infrastructure in Seoraksan and regenerating idle facilities in Chiaksan to build accommodation infrastructure.

Chungbuk Innovation City supports diverse educational demands in the region. The Information and Communication Industry Promotion Agency supports the establishment of a smart educational environment using information and communication technology (ICT), specializes in untact education, and develops 5G immersive educational content to support the construction of a K-Smart Education Pilot City. Korea Gas Safety Corporation operates an open campus by jointly offering advanced courses on hydrogen energy and safety practice with six local universities including Chungbuk National University. The Korea Consumer Agency provides coaching and education on Consumer-Centered Management (CCM) certification to strengthen win-win growth and competitiveness of companies in the Chungbuk area.

Jeonbuk Innovation City plans to carry out regional projects aligned with the functions and characteristics of relocated public institutions. The National Pension Service supports the creation of a financial innovation ecosystem based on data by building a financial big data platform and center, collecting and processing financial big data, and training financial personnel. Korea Electrical Safety Corporation is constructing an electrical disaster analysis center (ESS testing building) capable of identifying causes of fires in solar power and energy storage system facilities. The Korea Food Research Institute provides ongoing technical support by consulting on difficulties and designating and supporting excellent small and medium food companies in the Jeonbuk area.

Gyeongbuk Innovation City’s relocated public institutions plan to take a leading role in fostering local industries. Korea Expressway Corporation is building and providing a testbed space for logistics technology SMEs and startups and constructing a smart logistics center to develop Gimcheon Innovation City into a southern logistics hub and smart logistics base city. Korea Hydro & Nuclear Power will transfer promising commercialization technologies held by public institutions to SMEs by discovering promising technologies, disclosing and transferring technologies, and holding integrated technology transfer briefings for industry-academia-research cooperation.

Gyeongnam Innovation City plans to promote win-win development with local companies. Korea Land and Housing Corporation plans to induce startups and corporate attraction by providing corporate support spaces and build a collaborative corporate support space for relocated public institutions (tentatively named Station-K) to revitalize industry-academia-research clusters. The Korea Infrastructure Safety & Technology Corporation operates earthquake safety technology briefings using internal and external experts for local private companies, and the Korea Testing Laboratory is conducting planning research to establish urban air mobility (UAM) test and certification infrastructure to strengthen competitiveness in UAM entry and aviation test certification.

Jeju Innovation City offers various cultural programs to local residents. The National Tax Service Training Institute provides practical lectures on major tax laws to business operators in the Jeju area, and the Government Employees Pension Service plans to operate the Seogwipo Citizen University, offering humanities and health management courses. The Korea Foundation for International Cultural Exchange operates a library and exhibition hall, hosting art exhibitions, promotional spaces, and film screenings as part of a complex cultural program.

Meanwhile, the Ministry of Land, Infrastructure and Transport plans to seek related institutional improvement measures to enhance the completeness and implementation of regional development plans. Based on the regional development plans, a ‘Comprehensive Innovation City Development Plan Performance Report Meeting’ will be held at the end of the year to evaluate the annual contribution of relocated public institutions to regional development. Since last year, the Ministry of Economy and Finance and related ministries have jointly selected 10 major collaborative tasks led by public institutions in each innovation city and 16 excellent tasks in three key areas for public institutions to lead innovation cities, and the results will be reflected in management evaluations starting this year.

Kwon Dae-cheol, Deputy Director of the Innovation City Development Promotion Team at the Ministry of Land, Infrastructure and Transport, said, “I appreciate the tireless efforts of relocated public institutions that have established plans and are implementing various projects to develop innovation city regions despite difficult conditions such as COVID-19.” He added, “We will actively promote institutional and financial support measures to ensure that the regional development plans of relocated public institutions proceed smoothly as originally intended.”

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