Innovation and Entrepreneurship Collaboration, Expecting Results

WKBC USA Cooperation in Atlanta Next Year

The Korean American Chamber of Commerce in the Americas (KACA) signed a Memorandum of Understanding (MOU) with the Korea Research and Development Special Zone Promotion Foundation (KRSF) under the Ministry of Science and ICT of the Republic of Korea at the Jeonbuk TechBiz Center Auditorium in Jeonju, South Korea at 6:00 p.m. on the 21st to cooperate on the commercialization and internationalization of R&D projects. The Foundation is a public technology commercialization organization that aims to innovate national technologies and develop the national economy through the development of special zones.

The ceremony was attended by President Lee Kyung-cheol, Chairman Kim Hyung-ryul, Senior Vice President Bang Ho-yeol, and Chairmen Noh Sang-il, Kim Mi-kyung, Yang Kyung-ho, Hong Seung-won, and Han Oh-dong of the World Korean Business Congress USA (WKBC USA), which will be held in Atlanta next April, as well as Jeong Hee-kwon, Chairman of the Foundation for the Promotion of R&D Special Zones, and Lim Mun-taek, General Manager of Jeonbuk R&D Special Zone.

“At a time when Korea’s dependence on U.S. exports is increasing, the cooperation between the Foundation and the U.S.-Korea Chamber of Commerce in the pursuit of science and technology innovation and entrepreneurship is of great significance, and we look forward to further development between Korea and the U.S.,” said Jeong Hee-kwon. “This agreement is a starting point for both sides to move forward for future growth and we expect great synergies,” said Lee Kyung-chul, Chairman of the Korea Chamber of Commerce in the Americas. ”Korean-American businesses in the Americas are in need of innovative technologies and ideas, and we can expect great growth by combining and introducing new technologies from the R&D zones.”

Founded in 1973 as the Daedeok Research Complex, the SEZs are the center of science and technology in South Korea, comprising five metropolitan R&D zones in Daedeok, Gwangju, Daegu, Busan, and Jeonbuk, and 14 Jiangsu Special Zones. From the Baekgom missile, which laid the foundation for self-defense, to the successful launch of the Nuri, which declared Korea a space power, the SEZs have been the pride of Korea’s past history and the driving force behind its economic growth.

Since its establishment in 2005 under the ‘Special Act on the Development of R&D Special Zones’, the Foundation has been pursuing the commercialization of public technologies so that the excellent technologies in the special zones can be utilized in the world beyond technology. In particular, it has established technology commercialization models such as research institutes and high-tech enterprise systems, regulatory sandboxes, and regional innovation support projects to strengthen technological capabilities and support company growth, contributing to the establishment of R&D special zones as bases for innovative growth.

The Foundation is preparing for a new leap forward in the era of technological cataclysm represented by AI, bio, quantum, etc. Through various activities such as supporting the commercialization and start-up of deep-tech-based technologies that are changing the world, creating a supra-regional cooperation ecosystem that binds each of the SEZs, strengthening global cooperation, and supporting companies in the SEZs to enter the overseas market, the Foundation is striving to transform the SEZs into global innovation clusters.

In particular, the U.S.-Korea Chamber of Commerce expects a large number of research institutes and high-tech companies belonging to the SEZs to participate in the first U.S.-Korea Business Congress, which will be held at the Gaseous South Convention Center in Atlanta in April next year, and to achieve results in entering the U.S. and attracting investment. <Electronic=Yosef Park Reporter>

Source: The Korea Times Atlanta

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