The Korea Venture Business Association announced on January 3rd that it signed a business agreement with Suwon Special City at Suwon City Hall to successfully promote the "K-Silicon Valley Project." The agreement aims to foster an innovative ecosystem centered on cutting-edge industries, and the two organizations will collaborate to attract and foster ventures and startups in cutting-edge industries such as semiconductors, biotechnology, and artificial intelligence (AI).
The "K-Silicon Valley Project" aims to create a cutting-edge science innovation cluster centered around the Suwon Free Economic Zone, spanning approximately 3 million square meters in Gwonseon-gu, Suwon, in conjunction with existing industrial hubs like Gwanggyo Techno Valley and Deltaplex. The project is expected to create approximately 84,000 jobs and generate KRW 12.7 trillion in production.
Seong Sang-yeop, chairman of the Korea Venture Business Association, said, “The Suwon Free Economic Zone has the potential to grow into a global hub for cutting-edge industries such as semiconductors, bio, and AI.” He added, “We will actively cooperate to help Suwon establish itself as the center of the Korean venture ecosystem by attracting venture companies and fostering an innovative ecosystem.”
Suwon Special City Mayor Lee Jae-joon said, “The Suwon Free Economic Zone is a future-oriented innovation cluster based on cutting-edge technology industries, and will become a new central axis of the Korean economy,” and added, “Suwon City will spare no administrative support to create an industrial environment with global competitiveness.”
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