Hanyang University’s (HYU) ERICA campus was selected as the forerunner for the “Campus Innovation Park Project” along with two other universities over a high competition rate of 10:1. This project, jointly promoted by the Ministry of Education, the Ministry of Land, Infrastructure and Transport and the Ministry of Small and Medium-sized Venture Business, aims to promote the universities as hubs for regional innovation by fostering idle college sites into urban high- tech industrial parks, supporting the construction of new corporate admission facilities in the complex, and focusing on the government’s industrial-academic cooperation projects and enhancing corporate capabilities.

ERICA campus plans to house a combination of residential, cultural and start-up business supporting facilities and research institutes for high-tech companies related to IT and BT under the project budget of 690 billion won. In addition to various tax benefits such as property and acquisition taxes, tenant companies can receive support for various business support programs from Ansan-si and HYU. About 1.5 trillion won worth of investment will be made in the “Campus Innovation Park Project”, which is expected to generate 5.9 trillion won in production and 1.8 trillion won in value-added inducement along with 36,000 jobs.

The Campus Innovation Park Project will soon begin establishing plans for industrial complexes and will be designated as an industrial complex in the first half of next year and start the construction in the second half. ERICA plans to move to the second half of 2022 to receive support for business support programs such as industrial-academic cooperation and start-ups under the administrative and financial support from Gyeonggi-do, which has been a reinforcement in giving universities in the province chances to participate in campus innovation park projects. This will become an important opportunity for the students at Campus Innovative Parks to seize job opportunities while companies will utilize the university’s superior infrastructure resources, and universities maximize the creation of new jobs and growth of businesses.