LH Signs Agreement with Daejeon City for Construction of Daejeon Jangdae Urban High-Tech Industrial Complex Innovation Growth Center

LH to Develop Daejeon Jangdae Urban High-Tech Industrial Complex and Build Innovation Growth Center
Daejeon City to Establish Advanced Sensor Reliability Support Center and Support Industrial Complex Tenants
First Domestic Advanced Sensor Specialized Complex Expected to Boost Employment in Sensor Materials and Components Companies

Kim Hyun-jun, President of LH (fifth from the left in the photo), and Heo Tae-jeong, Mayor of Daejeon Metropolitan City (sixth from the left in the photo), along with other officials, are posing for a commemorative photo at the business agreement ceremony on the 8th for the establishment of the Innovation Growth Center in the Daejeon Jangdae Urban High-tech Industrial Complex.

[Asia Economy Reporter Kangwook Cho] Korea Land and Housing Corporation (LH) announced on the 8th that it signed a "Daejeon Jangdae Urban High-Tech Industrial Complex Innovation Growth Center Construction Business Agreement" with Daejeon Metropolitan City at Daejeon City Hall to foster the advanced sensor industry.

The "Innovation Growth Center" is a public building constructed within the urban high-tech industrial complex developed by LH. It expands corporate rental spaces, communication and exchange spaces between companies, and cultural spaces, which were insufficient in existing industrial complexes, and provides them to companies. It is a comprehensive anchor facility that operates systematic startup programs with participation from public entities.

This agreement was promoted to establish a foundation for revitalizing the Daejeon Jangdae Urban High-Tech Industrial Complex through company settlement and startup program operation by constructing the Innovation Growth Center, and to promote local community investment and job creation.

The "Daejeon Jangdae Urban High-Tech Industrial Complex" is Korea's first "advanced sensor specialized industrial complex" located in Yuseong-gu, Daejeon Metropolitan City, covering approximately 73,000㎡. The industrial complex plan is scheduled to be approved in the second half of this year, with site development construction planned to begin next year. The Innovation Growth Center located here aims to complete design and start construction in 2023.

According to this agreement, LH and Daejeon Metropolitan City will build the Innovation Growth Center in the Daejeon Jangdae Urban High-Tech Industrial Complex and establish an "Advanced Sensor Reliability Support Center" within the center.

First, LH will develop the site of the Daejeon Jangdae Urban High-Tech Industrial Complex and construct the Innovation Growth Center within the industrial complex. The Innovation Growth Center will include △research facilities △exhibition halls △office spaces for company settlement △support spaces for operating corporate support programs.

Daejeon Metropolitan City will establish the Advanced Sensor Reliability Support Center and guarantee company settlement within the Innovation Growth Center and the support center. It will also be responsible for conducting industrial complex settlement demand surveys targeting companies and supporting advanced sensor materials, parts, and equipment (SoBuJang) companies throughout the entire process from technology development to commercialization, as well as fostering related industries.

This agreement is the first case of cooperation between LH and local governments from the industrial complex development stage to the construction of the Innovation Growth Center, company settlement, and fostering related industries. Through the agreement, it is expected to greatly contribute to investment in the advanced sensor industry and job creation in the region by establishing a foundation for revitalizing the industrial complex early based on the prompt construction of the Innovation Growth Center and securing stable company settlement demand.

At the signing ceremony, LH President Kim Hyun-joon said, "Based on our business capabilities such as developing Pangyo 2nd Techno Valley, which has become a mecca for startups, we will actively collaborate with Daejeon City to make the Daejeon Jangdae Urban High-Tech Industrial Complex a model case for innovation growth centers nationwide."

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