Ministry of Trade, Industry and Energy Announces Competition for Innovation Support Agencies to Lead New Industry Development in Free Economic Zones
2022 Economic Free Zone Innovation Ecosystem Development Support Project Announcement
[Asia Economy Reporter Joo Sang-don] The Ministry of Trade, Industry and Energy announced on the 7th that it will open the '2022 Economic Free Zone Innovation Ecosystem Support Project' on the 8th to create a platform for cooperation among innovation entities in economic free zones and support customized growth for companies, aiming to develop economic free zones into global hubs for new industries.
This project started this year following the establishment of the 'Economic Free Zone 2.0, 2030 Vision and Strategy' finalized in October last year. In 2022, about 10 innovation support institutions will be selected to collaborate with nine economic free zone authorities, technoparks, universities, research institutes, and other regional business support organizations to build industry-academia-research cooperation systems and innovation ecosystems in specialized industrial sectors. Based on this, various programs will be supported to meet the growth demands of companies located in economic free zones.
The innovation support institutions selected through this project will lead the creation of ecosystems by organizing innovation capabilities through linking regional innovation institutions related to the specialized industries of each economic free zone, such as core strategic industries and priority attraction sectors, to achieve synergy effects.
Additionally, to strengthen corporate capabilities, growth demands across all business activities such as regulatory improvements, technical support, quality certification, and marketing will be identified and supported in a menu-style approach. Especially reflecting the increasing trend of non-face-to-face activities after COVID-19, support will focus on online marketing and investment attraction strategy development. Considering that the core strategic industries of each economic free zone confirmed last November are centered on new technologies such as artificial intelligence, hydrogen, and unmanned mobility, technical consulting and short-term training programs will be newly provided as innovation capability enhancement consulting to demand companies.
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Detailed information about this support project can be found on the websites of the Ministry of Trade, Industry and Energy and the Korea Institute for Advancement of Technology starting from the 8th. Applications will be accepted until January 12 next year, and the final project operators will be selected in February.
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