Gyeongbuk Province to Establish 'Knowledge Industry Center' as a Venture Startup Hub in Daeeim District, Gyeongsan

Aerial view of Gyeongsan Knowledge Industry Center.

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[Asia Economy Yeongnam Reporting Headquarters Reporter Park Dong-wook] Gyeongsangbuk-do announced on the 6th that it has secured 1 billion KRW (national funds) for the first year of the project to build a Knowledge Industry Center under the Ministry of SMEs and Startups in the Daeim District near Imdang Station in Gyeongsan.

The Knowledge Industry Center is a multi-layered complex building where manufacturing, knowledge industries, information and communication businesses, and support facilities can coexist. Starting next year, it will be constructed over four years with a budget of 40 billion KRW (16 billion KRW national funds), consisting of 2 basement floors and 8 above-ground floors, with a total floor area of 14,400㎡.

Gyeongsangbuk-do plans to develop the Knowledge Industry Center as an advanced base for creating new industries in the region by housing corporate research institutes and venture companies in one space, similar to the Pangyo New Town in the Seoul metropolitan area, once completed.

The Daeim District is home to 13 universities including Yeungnam University and 15 industrial complexes within a 10 km radius. It is a center of economy, industry, and education boasting an average daily floating population of 13,000 people, and is connected to Daegu City by subway, making it an optimal location for a venture startup complex.

In addition to the already confirmed Knowledge Industry Center, Gyeongsangbuk-do plans to foster the Daeim District in Gyeongsan as a venture valley by attracting a 40 billion KRW Startup Park, a core project in the startup sector of the Ministry of SMEs and Startups, thereby establishing a Gyeongbuk startup ecosystem alongside Pohang's POSCO Venture Valley and Gumi's Kumoh Techno Valley.

Ha Dae-seong, Deputy Governor for Economy of Gyeongsangbuk-do, stated, "Although venture companies have been nurtured through startup incubation projects at local universities, many young people and venture companies in the region have moved to the metropolitan area once they reached a certain level of growth due to limitations in business scalability, convergence, and information." He added, "With the establishment of the Knowledge Industry Center, we expect venture companies to take root locally and grow their businesses."

He continued, "Thanks to the support of many people, including local members of the National Assembly, we were able to attract the Knowledge Industry Center," and added, "We will continue to cluster venture-related facilities and develop the Daeim District in Gyeongsan into the Tipstown of Yeongnam."

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