Gyeongsangbuk-do is establishing a customized support system to help local companies advance into the U.S. market, in cooperation with Gyeongsan City, the University of Utah, and the University of Utah Asia Campus.

On the 20th, the province held a four-way Memorandum of Understanding (MOU) signing ceremony at the Gyeongsan City Hall, attended by Yang Geum-hee, Vice Governor for Economic Affairs of Gyeongsangbuk-do, Cho Hyun-il, Mayor of Gyeongsan, and Gregory C. Hill, Chief Administrative Officer of the University of Utah Asia Campus.

The agreement includes supporting the U.S. entry of outstanding local companies, promoting industry-academia cooperation and joint research, and discovering joint cooperation tasks through exchanges among universities, research institutions, and enterprises. It also encompasses building partnerships among companies, investors, and innovation institutions, as well as discovering investment opportunities.

Gyeongsangbuk-do, Gyeongsan City, and the University of Utah have previously discussed measures for local companies' global expansion and technology commercialization cooperation. The province began discussing cooperation with the University of Utah in November of last year and visited Utah, U.S., last September to inspect the University of Utah's startup support facilities and research infrastructure such as the Nano Fab.

Through the "Global Innovation Growth Support Project," Gyeongsangbuk-do provides customized support tailored to the growth stage and demand of companies across four specialized tracks: investment attraction, export and distribution, joint research and technology development, and U.S. FDA certification and patent acquisition.

The province plans to establish a linked support system that connects joint research, technology verification, technology commercialization, investment attraction, and entry into the local market based on corporate demand.

Taking the visit to the University of Utah Nano Fab as an opportunity, Gyeongsangbuk-do will discuss cooperation areas with local research institutions such as POSTECH, Kumoh National Institute of Technology, and the Gyeongbuk Institute for Bio Industry. The province intends to discover projects linked to regional mainstay industries such as semiconductors, advanced materials, and biotechnology, while connecting the university's research achievements with the technological demands of local enterprises.

Yang Geum-hee, Vice Governor for Economic Affairs of Gyeongsangbuk-do, stated, "This agreement is significant in that it develops the cooperation discussions with the University of Utah—which have continued since November of last year—into concrete projects and expands our cooperative foundation. By connecting Gyeongbuk's industrial base with Utah's research capabilities and global network, we will create substantial results such as local companies' entry into the U.S., technology commercialization, and investment linkages."

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