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President Park Attends Startup Campus Opening in Pangyo 2016.04.04
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“The Startup Campus will be the cradle of the creative economy.” ~President Park, Geun-hye

 

“A.I. and Virtual Reality technologies are treasure houses for entrepreneurship,” says President Park who through visits to Daegu, Busan, Asan, and now Pangyo in March is encouraging economic development in South Korea.

 

On March 22nd President Park, Geun-hye announced, “People are shocked by the fact that machines can learn and think with A.I. technology.  Information and Communication Technology (ICT) convergence fields such as A.I. and Virtual Reality will be the treasure houses of entrepreneurship and technological innovation.”  President Park attended the opening ceremony for the ‘Startup Campus’.  She said, “I could vividly feel the 4th Industrial Revolution bringing rapid change to industry and society throughout the Go match between AlphaGo and a human player.  The Startup Campus is an entrepreneurship supporting center that is designed to support start-up businesses and help them make it overseas.  Over 200 start-up companies and 10 entrepreneurship/innovation supporting bodies are involved with the center.

 

Over 170 people attended the opening ceremony including President Park, Chairman of KT, Chang-gyu Hwang, and Chairman of Venture Business Association, Jun Jung.  President Park’s attendance was interpreted as part of a nationwide movement for economic development following by visits to Daegu on March 10th, Busan March 16th, and Asan March 18th.

 

In her congratulatory address at the opening ceremony, President Park said, “These days, it is impossible to progress any further with the existing economic development strategy based on imitation.  We can only survive and prosper when we make a creative economy that combines creative ideas with new technology.  I hope the Startup campus will be a stepping stone for South Korea to be an Asian entrepreneurship hub.”

 

President Park emphasized, “The Startup Campus can be a customizable mentor to related ventures and small enterprises as well as a gateway to connect our startup businesses to the world market.  I expect this place to become a cradle of the creative economy where young people can go out into the world and talented international people can come realize their dreams.”

 

On the day of the ceremony, the President looked around the center’s innovative products and technology.  Gordon Media, a virtual reality content firm, representative Hae Wang Ma introduced a new program with which he said, “A spectator can vividly experience Gyeongbokgung Palace by traveling virtually through the inside of the buildings and seeing the people like they were during the Joseon era.  Also we can open an Audio-visual classroom at school and experience history through virtual reality.”  The president showed interest by saying, “The students will be able to learn by going into the virtual world (virtual reality classroom) and history may become a much more popular course.”


The President mentioned Israel raking 1st in the number of venture business per person even though it has a small population of 780 million people and said, “Those entrepreneurs not only initially considered of the domestic market, but also thought of running businesses globally and that is what helped them expand worldwide.”

 

“There was a venture boom in the 1990s during which globally influential technologies such as MP3 players and the internet where developed at which time we handed over leadership because we thought of ourselves as only a small national market.  Fortunately, we can now drive new businesses towards the global market from a leader position with this campus which is full of the spirit of creativity.  The government will support these new ventures in every way it can,” promised the President.

 

The Startup campus has three buildings (total area 54,075 m2) which more than 200 startups will move into.  The target tenants are startups related to high technology ICBM fields such as Internet of Things (IoT), Cloud, Big Data, and Mobile.  In the campus there will be support organizations for foundation and innovation.  A Creative Economy Innovation Center will also move in to support businesses throughout every step of their development from establishment to breaking into the international market.  Furthermore, more than ten support organizations such as NIPA, IITP, KISA, Yoma Campus, and SAP App House will move in.

 

The ‘Grand ICT Research Center’, jointly run by Sungkyunkwan University and Kyung Hee University, is planning to foster professional manpower by operating engineering master’s degree courses and joint R&D meetings based on company requests.  The Ministry of Science, ICT and Future Planning will be providing 415 billion won to the Startup Campus this year on top of private investments.  Moreover, they are trying to attract global firms to the ‘2nd Pangyo Valley’ by the end of next year in order to make Pangyo Creative Economy Valley the pioneer cluster of the creative economy.

 

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