Korea Electrotechnology Research Institute Strengthens Corporate Support with Changwon Small Giant Special Zone Expansion

Changwon-si Bulmosan-dong Designated as Additional 'Technology Advancement Zone'... Expanded by Over 50,000 Pyeong
Developed as an 'Electricity and Machinery Convergence Research Complex,' Plans for Business Attraction and Various Facility Construction

The Korea Electrotechnology Research Institute (KERI) announced on the 19th that the area of the ‘Changwon Small Giant Research and Development Special Zone (Small Giant Special Zone)’ in Gyeongnam has been expanded, enabling strengthened support for companies.

The Ministry of Science and ICT approved the expansion of the area of the Changwon Small Giant Special Zone near KERI at the ‘50th Research and Development Special Zone Committee’ held in June, and recently, with the revision and announcement of the management plan, a ‘Technology Advancement District’ of 0.17㎢ (51,425 pyeong) was newly added in Bulmosan-dong, Seongsan-gu, Changwon.

Aerial View of the Gyeongnam Changwon Small Giant Special Zone Technology Advancement District Plan

The Small Giant Special Zone is a project that discovers specialized research and industrial fields centered on core technology institutions located in the region and fosters related companies to invigorate the local economy. KERI serves as the core technology institution of the Changwon Small Giant Special Zone, specializing in the field of ‘intelligent electric and mechanical convergence’ and is carrying out various company support projects.

Designated in August 2019, the Changwon Small Giant Special Zone has consistently received an ‘excellent’ rating in annual evaluations, demonstrating outstanding performance. However, it had the smallest area (0.65㎢) among the 14 special zones nationwide, limiting its capacity to encompass many companies. KERI expects that the addition of the Technology Advancement District area to the Small Giant Special Zone near the institute will enable mid- to long-term development and allow full-cycle support for the commercialization of public technologies.

The newly established Technology Advancement District will be developed as an ‘Electric and Mechanical Convergence Research Complex.’ The Changwon Small Giant Special Zone plans to invest approximately 187.1 billion KRW in local government funds by 2027 to build educational and research commercialization facilities, zones for companies and research institutes, and neighborhood living facilities. Through this, it aims to attract many companies and research institutions and contribute to job creation. By promoting more structured project implementation and mutual networking within the closely connected special zone space, it will quickly respond to changes in the industrial structure and grow into a region-led cluster ideally aligned with the concept of the Small Giant Special Zone.

Kim Nam-gyun, President of KERI, stated, “Through the expansion of the Technology Advancement District, we can attract more promising companies that want to join the Changwon Small Giant Special Zone and strengthen demand-based joint research functions for companies.” He added, “Focusing on fields such as e-mobility and secondary battery packaging, we will actively utilize the institute’s top-level technology and infrastructure to successfully establish the electric and mechanical convergence research complex and strive to lead corporate growth and regional economic revitalization.”

Now in its sixth year since designation, the Changwon Small Giant Special Zone has invested a total project cost of 17.66 billion KRW to support technology discovery and technology transfer commercialization related to ‘intelligent electric and mechanical convergence,’ as well as specialized growth for small giant technology startups.Through this, it has achieved economic support effects totaling 198.4 billion KRW, including 89 technology transfers (7.5 billion KRW), establishment of 27 research institute companies, establishment of 47 specialized startup companies, sales of 94.6 billion KRW, and investment linkage of 1,037.9 billion KRW, contributing to the creation of a startup ecosystem and regional economic development.

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