Jeonbuk Province Supports Entire Process of Public Technology Transfer and Commercialization in Agro-Bio Food Sector

Korea Food Research Institute Signs Business Agreement with Research and Development Special Zone Promotion Foundation

[Jeonju=Asia Economy Honam Reporting Headquarters Reporter Kim Han-ho] Jeonbuk Province announced on the 12th that it has signed a business agreement with the Korea Food Research Institute and the Research & Development Special Zone Promotion Foundation to collaborate on technology commercialization in the agricultural life and food sectors.

This agreement originated from a shared recognition of the need for a close cooperative system to promote the development and dissemination of technology in Jeollabuk-do's key industries of agricultural life and food, and to foster competitive technology companies and high value-added agri-food industries.

In particular, the purpose is to actively connect excellent infrastructure such as the Food Research Institute and the Rural Development Administration, which Jeonbuk possesses, to agri-food companies, and to nurture technology companies that lead rapidly changing agri-food trends, thereby strengthening overall industrial competitiveness.

Jeonbuk Province and the two institutions will actively cooperate through this business agreement to discover promising technologies in agricultural life and food, promote technology transfer and startup activation, and join forces to support the sustainable growth of agri-food companies in the region.

As a follow-up measure to this agreement, new cooperative projects will be promoted by matching the Food Research Institute's accumulated technology fees with provincial funds.

The cooperative projects will be carried out by the Special Zone Foundation (Jeonbuk Headquarters), a public technology commercialization specialized institution, supporting commercialization funds (projects) for Jeonbuk Special Zone companies that have received agricultural life and food public technologies, and systematically supporting special zone projects (investment, testing and certification, consulting, etc.) until commercialization success.

Since this is the first case of reinvesting technology fees from government-funded research institutes into the Special Zone Foundation's commercialization programs, it is expected to spread to other special zones and government-funded research institutes nationwide, creating various ripple effects such as regional company growth.

Jeonju=Honam Reporting Headquarters Reporter Kim Han-ho stonepeak@asiae.co.kr

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