Korea held a groundbreaking ceremony for the construction of a technical center aimed to spur the development of nanotechnology at the Pohang University of Science and Technology in North Gyeongsang Province on Monday (June 27).
“The government takes a stride to build an industrial cluster for nanotechnology in Pohang,” the Ministry of Commerce, Industry and Energy (MOCIE) said in a press release.
To become a world leader in nanotechnology, the government will use the center as a focal point to bring related companies, colleges and research labs together, the ministry said.
Nanotechnology, which will make it possible to build materials and products with atomic precision, is expected to create novel materials.
The Pohang nanotechnology center, to be completed in July 2006, will be a four-story building on the land of 3,506 pyong (about 11,569 square meters).
“In particular, the center will focus on research and development (R&D) activities for the industrialization of nanomaterials,” it said.
To build the nations first nanotechnology cluster, the government will inject 110.4 billion won into the project.
About 13 universities and 78 companies, including POSCO, as well as five local governments joined the cluster development project.
“We expect the nanotechnology center to contribute to raising the nations competitiveness and activate the local economy by creating jobs,” the ministry said.
“The government plans to create more than 500 nanotechnology-related start-ups based on R&D results of the center within 10 years, leading the center to become an internationally recognized nanotechnology cluster.”
