Sustainable Development of Technopolis: Case Study of Daedeok Science Town/Innopolis in Korea - Technopolis: Best Practices for Science and Technology Cities - page 102

Year 1990 1992 1994 1996 1999 2002 2004 (DV total)

No. of firms 2 6 7 20 154 130 219 ( 824)

Job Creation 35 84 96 187 924 2,212 3,237 (22,395)

Fig. 5 Growth of venture firms from major R&D centers in DST/Innopolis. Source DAEDEOK
INNOPOLIS Management Office 2006 ( http://ddinnopolis.or.kr/ )

According to the report of Daedeok Innopolis Foundation (DIF) in 2006, within
10 years DST/Innopolis will have obtained immense growth as well as the number
of our occupant companies and R&D institutes and the number of international
patent registrations will rise. Especially, the companies are estimated to be 3,000
units in 2015 and the number of foreign R&D institutes is expected to be 20 in
2015 up from 2 in 2004. In addition, DIF is predicting the international patent
registration will be increased about 10 times more than the number in 2004 and
sales by technology commercialization are expected to reach $31,296 million in
2015 (Fig. 6 ).
Figure 7 shows the current status of DST/Innopolis development including
high-tech industries, HEI's, and R&D institutes. Growth of venture business is
shown in sales increases. According to the investigation of Korea Information
ServiceINC ( 2002 ), the amount of turnover by venture businesses in Daejeon area
was W ¼ 382.5 billion ($ 375 million) in 2000. It is about double that of 1999, and
corresponds to about 5.6 % of all output of manufacturing industries in Daejeon
area. If those figures are classified by scale, venture firms which had less than W ¼ 30
million showed the highest ratio by 38 % of all firms in 1998. However in year
2000, venture firms which had sale over W ¼ 500 million showed the highest ratio of
35 %. Venture firms in Daejeon made great strides. Average sales value per
company was shown to have grown 36 times, from W ¼ 25.9 million in 1998 to W ¼
928 million in 2000 in relative terms. Daejeon expects that the scale of venture
firms will be increased up to W ¼ 6 trillion in 2005 if sales of venture businesses in
Daejeon grow at current trend. It corresponds to about 56 % of whole sales from
manufacturing industries in Daejeon and 33 % of GRDP from the region.