Preparing to Become Growth Engine for the Korean Economy After the special law for the Daedeok R&D Zone came into effect as of July 28, officials of Daejeon Metropolitan City, have become even busier, preparing various support plans and activities, and welcoming overseas and domestic guests participating in the international symposium, which was held to celebrate the launch of the R&D zone. Daedeok R&D Zone will surely prove to be a core growth engine for both the Korean economy and the nation's science and technology development. Looking back on the development of its predecessor, Daedeok Science Town, established in 1973, it is evident that since then there have been many proud achievements, including the development of CDMA technology, Arirang Satellite, and ultra-precision AID diagnostic medicine. It has thus succeeded in growing into a Mecca of Korean science and technology. In spite of these remarkable accomplishments, however, it is pointed out by many that these high-tech accomplishments have not succeeded in industrialization or commercialization, consequently failing to contribute substantially to the creation of national wealth. However, the persons involved maintain that along with the effectuation of the special law for Daedeok R&D Zone, the science valley has now embarked on a great and historic journey. By combining the synergy of the zone's production capacity with its well-established research capability, the commercialization of research achievements will be made possible, laying the foundation for promoting the high-tech industry, academia, and R&D networks. Undoubtedly, Daedeok R&D Zone can be the driving force for realization of Korea's ambition to join the ranks of the world's most advanced countries. From now on, Daejeon City officials said; "Our city will do its utmost to ensure the successful operation of the R&D Zone, the science valley, fostering and developing it into a world-class innovative cluster." A Future Glimpse of Daedeok R&D Zone Let's imagine what the R&D zone might look like 10 years into the future, in 2015. As shown in
below, there will be 3,000 companies in the science valley, compared with the current 824; foreign research institutes will increase to 20, from the current 2; the global companies listed on the NASDAQ will stand at 20, while there is no NASDAQ- listed company in Daedeok at present.
Overseas patent registrations will reach 16,000, compared with the current 1,659; and royalty income will increase to 500 billion won, from the current 51.8 billion won; and finally, total sales will amount to 30 trillion won, compared with this year's 3.6 trillion won.
Meanwhile, the project of the "Second Daedeok Techno Valley" (about 3.30 million m2) will boost the domestic construction business and stimulate business activity in the neighboring commercial areas. Along with the newlyestablished companies plus the newlyarriving ones, about 5,000 jobs will be created every year. Universities will participate in joint R&D projects with the enterprises in the zone, thus providing custom-made manpower to the business circles.
High-class manpower specializing in nano-technology, biotechnology, and atomic power will be educated at the Korea Advanced Institute of Science and Technology (KAIST) and the students specializing in information technology will be fostered at the Information and Communications University (ICU). The A new hall of science and technology will be built, and a leading brand hotel will be invited to this science valley. As a result, many kinds of national and international conferences and seminars will be held in the Daedeok Valley, thus reducing expenses, and encouraging the inflow of international businesspersons.
Daejeon City officials said they are proud of the successful holding of the "International Symposium Celebrating the Launch of Daedeok R&D Zone" on July 29 at which measures were discussed for speeding up the zone's development, The seminar was attended by about 400 guests, including the heads of research institutes in the science valley, professors, venture businessmen, and officials of related organizations.