10 Design Innovation Centers to Be Set Up by 2004

Korea Times (Seoul, Korea), November 10, 1999 | Go to article overview

10 Design Innovation Centers to Be Set Up by 2004


Ten design innovation centers will be set up and a design venture fund scaled at 100 billion won will be raised to finance design developers during the next five years.

A total of 500 billion won will be subsidized to help develop world class brands with a good design as promising export commodities by 2004.

Businesses will be encouraged to spend a combined 3 trillion won on design efforts every year from 2000, up from 2 trillion won in 1998.

The 500 billion won fund breaks down to 200 billion won for redesigning major export items such as electronics goods, information technology devices, textiles and footwear and medical equipment, and 300 billion won to be offered to needy enterprises which lack capital in producing prototypes despite the development of new designs.

The government has allocated 10.6 billion won for redesigning and 20 billion won for prototype design manufacturing this year.

These are the core contents in the vision of the design industry and its development strategy reported by Commerce, Industry and Energy Minister Chung Duck-koo to President Kim Dae-jung in the first industrial design promotion event under the subtitle ``Design Korea'' at Chong Wa Dae yesterday.

The event has been inaugurated to inspire the design-oriented mind of businessmen and to develop the design industry, as a good design is a leading contributor to the export of commodities, Chung said.

Minister Chung added, ``The government will put policy priority on industrial design development to make the nation join the world's advanced design powers by the year 2004.''

The key policies are production of world-class design manpower, fostering design venturers, stronger protection of design intellectual properties, fostering own brands with good design and set-up of corporate design-oriented management system. …

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