On January 25, UNIST held a grand opening celebration to commemorate the completion of the University-Industry Cooperation Building at UNIST, demonstrating its commitment to becoming a prominent hub for industry-academic cooperation in the Southeastern region of Korea.
The ceremony took place in the lobby of the University-Industry Cooperation Building and was attended by representatives from the Ministry of Science and ICT, Ulsan Metropolitan City, companies moving into the the building, as well as Duksan Group Chairman Junho Lee, Ulsan’s first-generation venture entrepreneur.
The University-Industry Cooperative Building at UNIST has been specifically designed to facilitate collaborative research between academia and industry, while simultaneously nurturing local startups. Covering a total floor area of 8,273.68㎡, the building consists of one basement level and seven floors above ground. It provides spaces for startups and support facilities, research and education spaces exclusively for tenant companies, areas for sharing innovative ideas, and a student practice room.
Construction began on February 22 after securing a budget of 20.6 billion won for the Build-Transfer-Lease (BTL) project from the National Assembly of South Korea in 2019. Following a year and a half of construction, the building was completed in August 2023. On the same day, a joint investment fund was established between UNIST Technology Holding Company and ATP Ventures, with the aim of fostering local startups through significant investments from various mid-sized companies in Ulsan.
President Yong Hoon Lee expressed his hope by saying, “The University-Industry Cooperation Building would serve as a central focal point for fostering an innovative startup ecosystem in the southeastern region of Korea. The goal is to facilitate open innovation by bringing together local mid-sized companies, technology startups, and venture investment firms in one location.”
President Yong Hoon Lee expressed his hope by saying that “The University-Industry Cooperation Building would serve as a central focal point for fostering an innovative startup ecosystem in the Southeastern region of Korea. The goal is to facilitate open innovation by bringing together local midium-sized businesses, technology startups, and venture investment firms in one location.”