Assemblyman Shin Jeong-hoon Introduces Bill to Promote Attraction of Resident Institutions in Innovation Cities

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Congressman Shin Jeong-hoon (Jeonnam Naju·Hwasun, Democratic Party) announced on the 23rd that he has taken the lead in proposing a revision to the "Special Act on the Creation and Development of Innovation Cities" to promote the attraction of tenant organizations in innovation cities.

The amendment expands the spatial scope of tenant organizations supported by the state and local governments from the current industry-academia-research cluster to within the innovation city, and includes complex innovation centers, which are facilities that combine residential environment facilities and startup support spaces, as eligible for support.

It also includes provisions to allow operational expenses to be supported in addition to the current construction costs for these organizations, and to change the name of the Innovation City Development Support Center to the "Innovation City Development Foundation."

The current law stipulates that the state and local governments may support the necessary costs when domestic and international research institutions, international organizations, general hospitals, universities, etc., move into facilities within the industry-academia-research cluster and construct buildings.

However, it has been found that there have been no support achievements so far, and since low economic feasibility is expected to cause difficulties in future operations, there is a need to prepare more active measures to promote the attraction of tenant organizations in innovation cities.

In addition, considering the current legal framework that applies the Civil Act's foundation corporation regulations to clarify the nature and role of the Innovation City Development Support Center, which is established to attract innovation city companies and foster innovation cities as regional growth hubs, it is necessary to change its name.

Currently, 10 innovation cities, including the Gwangju-Jeonnam Joint Innovation City, are preparing to design and order construction of complex innovation centers or have already started construction, and the Ministry of Land, Infrastructure and Transport decided in 2018 to establish development foundations in all innovation cities.

Congressman Shin Jeong-hoon said, "Tenant organizations in innovation cities aim for public interest in regional balanced development and are actually contributing, but they face practical difficulties in operation due to low economic feasibility and profitability," adding, "We need to establish a more definite driving force so that innovation cities can become hubs that lead regional economic growth through expanded support scope and additional support."

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