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Fostering Future Growth Engines in Partnership with Doosan Group
Gyeongnam Center
Fostering Future Growth Engines in Partnership with Doosan Group
  • By Lee Song-hoon
  • May 23, 2016, 03:00
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Doosan Group Chairman, Park Jeong won, (second from left) visited the Gyeongnam Center for Creative Economy and Innovation early April this year.
Doosan Group Chairman, Park Jeong won, (second from left) visited the Gyeongnam Center for Creative Economy and Innovation early April this year.

 

The Gyeongnam Center for Creative Economy & Innovation celebrated its first anniversary in Changwon, Gyeongnam Province on April 20. The celebration hosted some 150 people including Choi Yang-hee, minister of the Ministry of Science, ICT & Future Planning, Ryu Soon-hyun, administrative vice governor of Gyeongnam Province, Kim Myeong-woo, president of Doosan Heavy Industries and Construction, Choi Sang-kee, president of the Gyeongnam Center, and many startup venture businessmen and venture capitalists.

The Gyeongnam Center opened on April 9 last year in partnership with Doosan Group has strived to advance mechanical industry and find out and bolster specialized indigenous industries. Particularly, the Gyeongnam Center has found out and helped 150-odd businesses grow in the ranges of mechatronics, water treatment, and anti-aging bio field. So far, the center has provided 75.6 billion won in funds.

Kim Myeong-woo, president of Doosan Heavy Industries and Construction stated, “We will continue our support so that the Gyeongnam Center can keep on playing the key role in expanding creative economy and securing the future growth engine of Geyeongnam region.” Choi Sang-kee, president of the Gyeongnam Center addressed, “As it is our most important role to support the companies of the center, we’ll keep on offering unsparing support to challenging companies.”

The event was accompanied by an award ceremony for the prize winners of “I-Gen Challenge Idea Contest Exhibit” that was held last March. Also there were investment agreements between venture incubators and venture capitalists. The event also featured a briefing to induce investment, a lecture for business start up, a display and the sale of products by startup ventures, a 3D printing demonstration and consulting for job applicants among others.

The Gyeongnam Center opened another center (Jinju Western Center) on March 31 this year to intensively foster anti-aging bio industry. The center has five incubator rooms, and serves as hub for incubating local ventures related to anti-aging bio industry based on the partnerships between companies (large or not), universities, and bio-related research institutes.

Particularly the Gyeongnam Center has made various win-win examples between large companies and small and medium sized companies through such programs as ‘ICT Needs Briefing’ ‘Idea Pitching Day’ and so on.

As a best example of conjunction between a small and medium sized company and a large company we can cite the case of Seongsan Tools, maker of special tools. The company could receive the win-win fund and was registered as a business partner of Doosan Heavy Industries & Construction. So the company’s sales increased to 1.36 billion won last year.

The ICT Needs Briefing is the point in which the center with a vision of playing the roles of a mechatronics hub associates with smart machinery companies in order that they can create new businesses. So far three ideas, selected from the many ideas suggested by the small and medium sized companies, were realized as businesses by making supplier contracts with big companies. And six ideas are currently being discussed whether or not to turn them into businesses.

Besides that, the Gyeongnam Center is scheduled to hold a briefing, on the basis of a market survey, in Qingdao, China, for the small and incubator companies to conveniently advance into overseas market. For that purpose, the center is planning to make an MOU with Qingdao City, China. The center will offer various supports in the cases of such companies attending overseas exhibitions, inviting foreign buyers, etc. 

On this March 28, there was a succession of management right in Doosan Group. Park Jeong-won, the new chairman paid a visit to the Gyeongnam Center on April 1 and promised his continuous support and cooperation to the center.