Gumi City Initiates New Leap with Launch of Gyeongbuk Defense Venture Business Cooperative Network

51 Defense Venture Companies Join the Council
Strengthening Cooperation in Technology Development and Commercialization

A dense network is invigorating the local defense industry ecosystem.

On May 13, Gumi City in North Gyeongsang Province held the inaugural general meeting for the official launch of the "Gyeongbuk Defense Venture Business Council," which is composed of companies partnered with the Gyeongbuk Defense Venture Center, at Hotel Geumosan.

Official Launch Photo of the "Gyeongbuk Defense Venture Companies Association" [Photo by Gumi City]

The event was attended by Yang Geumhee, Vice Governor for Economic Affairs of North Gyeongsang Province, Nam Byeongguk, Director of the Advanced Industry Bureau of Gumi City, and around 70 representatives from partner companies. They celebrated the council’s launch and discussed directions for developing the regional defense industry.

The Gyeongbuk Defense Venture Business Council was launched with the participation of 51 out of 82 companies partnered with the Gyeongbuk Defense Venture Center.

Jung Sangwon, CEO of Joongsoo Tech, has been appointed as the first president of the council.

The council aims to establish a sustainable regional defense industry ecosystem by building a cooperative framework between companies and expanding information sharing.

The inaugural meeting proceeded in the following order: introduction of guests, a report on the founding process, deliberation on the articles of association, announcement of future operational plans, the launching ceremony, and networking among participating companies.

Participating companies exchanged views on cooperation measures to jointly respond to changes in the defense industry market and on strategies for fostering regionally based industries.

Nam Byeongguk, Director of the Advanced Industry Bureau, remarked, "The launch of the Gyeongbuk Defense Venture Business Council marks an important starting point for strengthening the cooperative network among local defense venture companies. We will support active information sharing and collaboration between companies to help vitalize the regional defense industry ecosystem."

Meanwhile, the Gyeongbuk Defense Venture Center was expanded and reorganized from the former Gumi Defense Venture Center on January 1 of this year.

Going forward, the center plans to support technology development in the defense sector and promote commercialization for its partner companies in the province.

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