On May 31, ETRI (Electronics Telecommunications Research Institute) announced that ETRI launched ETRI Holdings to enhance commercialization of ETRI's technology.
ETRI Holdings is the technology venture consulting and investment company on scale of capital KRW 20 million. It will perform subsidiary development, technology business consulting and technology/cash investment via its nongovernmental and market-oriented type system.
Park Ki-soon, CEO of ETRI Holdings represented that "ETRI Holdings's priority goal is to increase acceptance in the market through changing research results into what markets want and adding values. ETRI Holdings will bear fruits through the commercialization."
Park Tae Woong, Executive Director of Technology Commercialization Division said "ETRI Holdings provides the market requirements to ETRI, so that ETRI could bring out the research results what market demands. Fatherly, it will contribute for planning market oriented R&D." ETRI expects that ETRI Holdings will be the successful model of technology commercialization government-funded research institutions.
It will generate new revenue from commercialization and reinvest to commercialization.