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KIST, Gangwon, & Gangneung Sign MOU to Establish Natural Products Industrialization Innovation Center (June 5, 2024)
- Date : 2024-06-07
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International Cooperation Team
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KIST, Gangwon Province, and Gangneung City Sign Multilateral MOU to Establish Natural Products Industrialization Innovation Center
Seoul, June 5, 2024 –KIST (President: Sang-Rok Oh) announced today that a multilateral MOU to establish the Gangwon Natural Products Industrialization Innovation Center was signed between KIST, Gangwon Province (Governor: Jin-Tae Kim), and Gangneung City (Mayor: Hong-Kyu Kim) at the Gangwon Provincial Office in Chuncheon. Alongside the management of a dedicated organization for the establishment of the Center, the primary focus of this MOU includes shared project funding, natural product research and development, industrialization efforts, and the advancement of regional industries.
The Natural Products Industrialization Innovation Center Project, driven by KIST’s vision of creating an innovative platform for the industrialization of natural products, involves the construction of the Center within the Gangneung Science and Industry Complex. This platform will support natural products industries, research and development, and international cooperation, fostering an advanced industrial ecosystem and encouraging business growth and attraction. The project aims to significantly contribute to the development of the region’s specialized natural products bio-industry. Starting with this MOU, the project will undergo feasibility studies and procure approval from the National Research Council of Science & Technology (NST) by early 2026, followed by securing national budget funding, with the Innovation Center expected to be completed between 2027 and 2030.
Since its establishment in 2003, the KIST Gangneung Institute of Natural Products has played a pivotal role in developing the Gangneung Science and Industry Complex, focusing on technology development in connection with strategic regional industries. KIST Gangneung has supported 62 bio-related SMEs through technical consulting, expert training, and technology transfers. Recent achievements include attracting four companies to Gangneung, facilitating two technology startups by researchers, and collaborating with provincial research institutions on numerous large-scale national projects. With over 190 research and administrative staff, the branch has produced 1,148 SCI-level papers, registered 526 patents, and achieved technology transfer successes valued at approximately 7.5 billion KRW, significantly contributing to the development of the regional natural products bio-industry and enhancing research capabilities. This agreement marks the start of closer collaboration between KIST, Gangneung, and Gangwon Province to further advance the natural products bio-industry in Gangneung.
KIST President Sang-Rok Oh stated, “This MOU is a significant step for Gangwon Province and Gangneung, positioning them at the forefront of the national natural products bio-industry. KIST is committed to contributing to the development of Gangwon Province and revitalizing the regional innovation ecosystem.”
Meanwhile, Gangwon Province Governor Jin-Tae Kim remarked, “The Gangwon Natural Products Industrialization Innovation Center will be the first piece of the puzzle in creating a virtuous cycle attracting businesses and talent. We look forward to close three-way cooperation leading to a significant leap forward in the natural products bio-industry.”
Gangneung Mayor Hong-Kyu Kim added, “The Gangwon Natural Products Industrialization Innovation Center is expected to play a central role in fostering an advanced industrial ecosystem and attracting businesses, invigorating the Gangneung National Natural Products Bio Industrial Complex. The city of Gangneung is dedicated to establishing a standardized hub for the full lifecycle of natural products and completing the Innovation Center, which will catalyze the creation of an early-stage national natural products industry cluster.”