Samsung Electronics to Foster Gyeongbuk's So-Bu-Jang Unicorns... Establishes 'C-Lab Belt' with Seoul and Gwangju

Opening Ceremony of C-Lab Outside Gyeongbuk
Accelerating Local Startup Development

Samsung Electronics has launched the external startup incubation program 'C-Lab Outside' in Gyeongsangbuk-do, following Daegu and Gwangju. It has established the Seoul-Gwangju-Daegu·Gyeongbuk 'C-Lab Belt.' The initiative aims to revitalize the economy, create quality jobs, and contribute to balanced regional development.

On the 13th, Samsung Electronics announced that it held the opening ceremony for C-Lab Outside Gyeongbuk at Yeungnam University in Gyeongsan, Gyeongbuk.

Samsung Electronics held the opening ceremony of 'C-Lab Outside Gyeongbuk' on the 13th at Yeungnam University in Gyeongsan, Gyeongbuk.
From the seventh person from the left in the top row of the photo are Lee Moon-rak, Director of the Gyeongbuk Center for Creative Economy and Innovation; Lee Cheol-woo, Governor of Gyeongbuk Province; Bae Han-cheol, Chairman of the Gyeongbuk Provincial Council; Park Seung-hee, President of Samsung Electronics; Choi Oe-chul, President of Yeungnam University; along with startup representatives and employees posing for a commemorative photo.
[Photo by Samsung Electronics]

The province and Samsung Electronics plan to use this location as a hub to nurture local startups into global companies.

Samsung Electronics explained that 82% (1,030 out of 1,256) of venture companies in Gyeongbuk are manufacturers. It said the region has optimal conditions for fostering startups in materials, parts, and equipment (MPE). Gyeongbuk is home to Samsung Electronics' Gumi plant and POSCO's Pohang steelworks.

On the same day, Samsung Electronics signed a memorandum of understanding (MOU) with Gyeongbuk Province, Yeungnam University, and the Gyeongbuk Center for Creative Economy and Innovation. The goal is to enhance public-private-academic cooperation to revitalize the startup ecosystem. The strategy is for Samsung Electronics to scale up startups nurtured locally through C-Lab into global unicorn companies.

C-Lab Outside Gyeongbuk, Gwangju, Daegu, Seoul Hub Graphic.
[Photo by Samsung Electronics]

With the launch of C-Lab Outside in Gyeongbuk, the Seoul-Gwangju-Daegu·Gyeongbuk C-Lab Belt has been established. This is expected to increase opportunities for local startups to grow their companies without having to relocate forcibly to the metropolitan area.

Samsung Electronics recently announced a regional investment plan worth 60.1 trillion KRW. To address the concentration of the startup ecosystem in the metropolitan area, it has collaborated with the Gyeongbuk Center for Creative Economy and Innovation for eight years since 2015, nurturing 148 startups. These companies have achieved sales of 300 billion KRW, attracted investments of 140 billion KRW, and created 1,700 new jobs.

Inside view of C-Lab Outside Gyeongbuk. [Photo by Samsung Electronics]

Samsung Electronics plans to deploy employees from its Gumi plant in manufacturing, production, and software development as mentors for C-Lab Outside Gyeongbuk, providing focused management programs tailored to each company.

By linking with C-Lab Outside in Seoul, Daegu, and Gwangju, it will attract external investments and offer opportunities to collaborate with Samsung Electronics and its affiliates. A comprehensive growth support system covering all stages necessary for startup growth will be established.

Samsung Electronics C-Lab Outside Gyeongbuk Entrance Signboard.
[Photo by Samsung Electronics]

Prior to the opening ceremony, Samsung Electronics selected five supported companies, including Haibo (LiDAR) and Eastern Gear (precision robots). Startups specializing in materials, parts, and equipment located in Pohang, Gyeongsan, and Chilgok were prioritized.

Son Young-bin, CEO of Haibo, said, "Being selected for C-Lab Outside will be the biggest turning point for our company," adding, "We definitely want to participate in next year's CES as a member of C-Lab."

The opening ceremony was attended by Lee Cheol-woo, Governor of Gyeongbuk Province; Jo Hyun-il, Mayor of Gyeongsan; Choi Oechul, President of Yeungnam University; and Park Seung-hee, President of Samsung Electronics. Governor Lee said, "Samsung Electronics is a strong partner for many Gyeongbuk startups embarking on new challenges," and added, "Gyeongbuk Province will do its utmost to support the emergence of many global unicorn companies from here."

Mayor Jo said, "I hope that through C-Lab Outside Gyeongbuk, the competitiveness of startups in the Gyeongbuk region will be strengthened, new jobs will be created, and it will serve as an opportunity to invigorate the local community."

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