LH Advances Gyeongbuk National University Campus Innovation Park Project

Daegu City and Kyungpook National University Sign Basic Agreement on 15th to Promote 'Campus Innovation Park' Main Project
Establishment of Corporate Spaces, Research Institutes, Cultural and Sports Facilities on Campus and Connection of Various Support Programs
"It Will Become a Growth Hub Where Youth Find Jobs Nearby and Companies Discover Talented Personnel"

Kim Hyun-jun, President of LH (left), Kwon Young-jin, Mayor of Daegu Metropolitan City (center), and Hong Won-hwa, President of Kyungpook National University (right), are posing for a commemorative photo after signing the "Basic Agreement for the Promotion of the Campus Innovation Park Project" on the 15th at the annex of Daegu Metropolitan City Hall. / Photo by LH.

[Asia Economy Reporter Jo Gang-wook] Korea Land and Housing Corporation (LH) announced on the 15th that it signed a "Basic Agreement for the Promotion of the Campus Innovation Park Development Project" together with Daegu Metropolitan City and Kyungpook National University at the annex building of Daegu Metropolitan City Hall.

The "Campus Innovation Park" project utilizes the geographical advantages and human resources of universities by designating idle land within campuses as urban high-tech industrial complexes, creating various office and startup support facilities to connect universities and companies, and linking various government corporate support programs to foster universities as hubs of innovative growth.

Following the "Campus Innovation Park Development Plan" announced by the government in 2019, three universities (Hanyang University ERICA Campus, Kangwon National University, and Hannam University) were selected as leading projects, and the projects are progressing smoothly with urban high-tech industrial complexes designated and construction underway.

In April this year, to expand talent development and job creation through the nationwide spread of Campus Innovation Parks and to strengthen corporate capabilities, the Ministry of Education, Ministry of Land, Infrastructure and Transport, and Ministry of SMEs and Startups held a public contest, selecting Kyungpook National University and Chonnam National University as new project sites.

This agreement was signed to specify the roles of LH, Daegu Metropolitan City, and Kyungpook National University before the full-scale promotion of the project. According to the agreement, each institution will actively collaborate on △ securing project sites and funding △ establishing project plans and obtaining permits △ attracting tenant companies.

The Kyungpook National University Campus Innovation Park project plans to apply for industrial complex plan approval by the end of this year, start complex construction by the end of next year, and establish corporate spaces such as the Industry-Academia-Research Innovation Hub (ACT Main Center, Start-up Square), research spaces (R&D Center), and cultural and sports facilities (Ground-X). The corporate spaces are scheduled to be occupied in the first half of 2025.

The Kyungpook National University Campus Innovation Park will be developed on a 32,000㎡ area within the university campus. LH, with its abundant know-how in industrial complex development, will participate as the overall project manager to develop the industrial complex. In particular, to activate the industrial complex early, a 22,000㎡ Industry-Academia-Research Innovation Hub building will be constructed, providing office spaces to early-stage startups and research institutes at affordable rents ranging from 20% to 80% of market rates.

Daegu Metropolitan City will support industrial complex permit procedures and project funding, while Kyungpook National University will provide the site and jointly operate and manage the Industry-Academia-Research Innovation Hub building with LH. Forty percent of the total project cost will be funded by government finances, and LH will pre-invest 60% to carry out industrial complex development and construction of the Innovation Hub building. Losses incurred from rents lower than market rates will be subsidized by local governments, establishing a sustainable project structure.

Through this project, office spaces for startup companies within university campuses will be established, creating spaces where universities and companies can naturally interact and communicate. With the provision of various corporate support programs, research institutes, and cultural and sports facilities, universities are expected to grow as hubs for nurturing talented individuals and future industries.

LH plans to sign a basic agreement for project promotion on the 21st with Gwangju Metropolitan City, Buk-gu Office of Gwangju, and Chonnam National University at Chonnam National University, which was selected as a new Campus Innovation Park project site together with Kyungpook National University in April.

Kim Hyun-joon, President of LH, said, "Campus Innovation Parks will become innovation hubs like MIT Kendall Square and Stanford Silicon Valley in the U.S., where young people can find good jobs nearby and companies can more easily acquire excellent talent," adding, "We will closely communicate and cooperate with Daegu Metropolitan City and Kyungpook National University to successfully promote the Kyungpook National University Campus Innovation Park project."

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