SEOUL, Apr. 25 (Korea Bizwire) — The government will push ahead with an industry-academic cooperation project to attract companies and research institutes to the sites inside university campuses and build residential and welfare facilities to create high-tech industrial complexes.
The Ministry of Education announced on Wednesday that it will sign a business agreement with the Ministry of Land, Infrastructure and Transport and the Ministry of SMEs and Startups to build innovative parks within university campuses.
The three ministries will push for a project to create “campus innovation parks” where idle land at universities will be transformed into urban high-tech industrial parks for housing, welfare and convenience facilities with businesses and research institutes.
Companies and research institutes that move into campus innovation parks will be provided with customized support for industry-academic cooperation from universities and support for startups and small and medium-sized enterprises.
While industry-academic cooperation projects that utilize existing university sites were centered on nurturing start-ups and supporting research, campus innovation parks support the entire process from start-ups to corporate management and growth.
In addition, if the existing project was to remodel existing buildings, the campus innovation park project is to build new complexes altogether.
Another difference is that it will provide space for businesses and research institutes and even welfare and convenience facilities for students.
The government plans to create campus innovation parks by focusing on areas such as IT (Information Communication), BT (Bio), and CT (Culture), which are considered high-tech industries with high potential for growth.
To begin, two to three universities will be selected for leading businesses.
The goal is to select candidate sites this year, complete the designation of industrial complexes by next year, and complete the construction in 2022.
The government believes that if the campus innovation park program is successful, it could develop into world-class industrial-academic success cases such as the Massachusetts Institute of Technology, Stanford Research Park and the Heidelberg Technology Park in Germany.
Ashley Song (firstname.lastname@example.org)