Gyeonggawon Signs MOU with KTC to Support Companies in Advanced Industry Sectors

Kang Seong-cheon, President of Gyeonggi-do Economic Science Promotion Agency, and Ahn Seong-il, President of Korea Testing Laboratory for Machinery, Electrical and Electronics, are taking a commemorative photo after signing a business agreement.

On the 17th, the Gyeonggi-do Economic Science Promotion Agency signed a business agreement with the Korea Testing Certification Institute (KTC) to support companies in the advanced industry sector.

According to the agreement, the two organizations will promote mutual cooperation in ▲establishing a linked and cooperative network for fostering companies in the advanced industry sector ▲providing testing and certification consulting technical support for R&D companies in materials, parts, and equipment (SoBuJang) ▲joint utilization of the digital open lab owned by the Gyeonggi-do Economic Science Promotion Agency.

Representative fields of advanced industries include semiconductors, digital convergence, and the bio industry.

In particular, the global system semiconductor market is expected to reach $339 billion (approximately 455 trillion KRW) by 2025, and the artificial intelligence (AI) and digital convergence market, as well as the bio industry market, are also projected to grow continuously, reaching $140 billion (approximately 188 trillion KRW) by 2025 and $911.4 billion (approximately 1080 trillion KRW) by 2027, respectively.

Advanced industries, which are expected to experience continuous growth like this, are core industries that determine the nation's competitiveness, requiring investment in research and development (R&D) and support for the overall ecosystem.

Based on the ‘Gyeonggi-do Innovation Growth Strategy,’ the Gyeonggi-do Economic Science Promotion Agency is striving to strengthen the competitiveness of Gyeonggi-do companies through comprehensive support for company growth, including global investment attraction and the establishment of the world's largest semiconductor mega cluster, as well as fostering advanced new industries.

KTC supports companies' technological capabilities and global competitiveness through the roadmap of ‘KTC Management’s 13 Strategic Fields,’ which represent digital and green transition, future growth, and nationally important industries. In particular, it is strengthening research and support activities from parts to systems in front-end businesses in fields such as display, future mobility, robotics/AI, and bio.

Kang Seong-cheon, president of the Gyeonggi-do Economic Science Promotion Agency, said, "This agreement holds great significance in terms of establishing a cooperative network for the future development of advanced industries," adding, "Going forward, the agency will continue to work closely with KTC to support Gyeonggi-do’s advanced industries and establish systematic fostering strategies."

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