INCHEON KOREA - The Venture Business Promotion Zone is designed for the vitalization of venture business in Incheon city. The Promotion Zone is a designated where a variety of universities and high-end laboratories are situated around ventures that demonstrated a higher growth rate than other businesses.
The Incheon IT Promotion Agency (IITPA) was awarded an “A” grade out of 26 venture business agencies in a recent evaluation. As a result, they will receive a total of 71 million won to allocate towards expenses. (51 million won from the government and 20 million won from the participants). This money will be allocated towards enhancing the Business Promotion Zone from 2012.
Juan Venture Promotion Zone is placed within the IITPA, which is the largest IT Promotion Agency. This will help to grow the business industry effectively. Promotion agency has a plan to expand the area of its promotion zone in order to create the JST town in 2014. Through the expansion of this zone, they expect the establishment of venture business in the area.
