Hyosung founded the Jeonbuk Creative Economy and Innovation Center in cooperation with Jeollabuk-do in November, in a place where the creativity of our ancestors still remains. The Center is a place to create an ecosystem for creative economy in connection with local human resources, startups/venture businesses, universities/research centers, and the local government.
With the goal of establishing an ecosystem for creative economy that is suitable for each region, the Center will be a base for future industries to blossom in Korea. At the same time, it will act as a hub for creative economy where traditional industries are in harmony with future industries, making the best use of its regional features.
“The Specialized Carbon Business Incubation Center will be an aggregation of Hyosung’s competences from purchasing and disassembling fishing rods to learn the carbon material technologies of other countries, and I expect to see the Center produce hidden champions in carbon fiber. I hope Hyosung further develops into a reliable company by establishing good alternatives for regional development.”
- From President Park Geun-hye’s congratulatory message in celebrating the inauguration of the Jeonbuk Creative Economy and Innovation Center
The Jeonbuk Creative Economy and Innovation Center is also referred to as ‘C’incu Space’ (‘C’ for carbon+culture+creation, added with incubation and space), meaning a space where the core industries of the future in Jeollabuk-do grow around carbon and come to fruition.
Hyosung and Jeollabuk-do will foster over 100 innovative SMEs related to carbon, and provide active support for them to become the “national hidden champions” symbolizing the performance of creative economy in Korea.
- Activities to open up new overseas markets for SMEs related to carbon in Jeollabuk-do: Hyosung has actively promoted win-win cooperation by participating in global composite materials exhibitions with SMEs in Jeollabuk-do.
- Revival of the cultural contents industry such as agricultural life and tourism: Hyosung joined forces with Jeollabuk-do to prepare for the 2014 Jeollabuk-do Industrial Revolution. Hyosung also held an entrepreneurship contest in October where 10 teams were selected. Each team was given 10 million KRW by the company to start up their own business.
- Discovery and cultivation of outstanding venture businesses: Hyosung helps outstanding venture businesses specify their business models by offering one-on-one mentoring with experts, and provides priority for venture businesses in need of office space to rent space in the Jeonbuk Creative Economy and Innovation Center.
- Establishment of business incubators: At business incubators, companies can not only receive financial support but also obtain business know-how of conglomerates, commercialize excellent ideas, and develop new markets using Hyosung’s global network.
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