Secures Gyeongbuk’s Largest RISE Project Fund of KRW 52.5 Billion

Leading Regional Innovation Through Startup Ecosystem and Mobility Innovation University

Establishing a Comprehensive Support System for Industrial Growth and Talent Development

[March 11, 2025]

Yeungnam University (YU), led by President CHOI Oe-chool, has successfully secured funding for all seven projects submitted under the 2025 Regional Innovation System & Education (RISE) initiative in Gyeongsangbuk-do. Among the 29 universities in the region, YU received the largest funding allocation, totaling KRW 52.5 billion (KRW 10.5 billion annually).

 The RISE initiative is designed to empower local governments with greater authority and regulatory flexibility to support universities, fostering regional-university collaboration for mutual growth.  With this selection, YU has outlined a vision to become the "No.1 Global Innovation Growth Engine in Partnership with the Region," spearheading entrepreneurship and technological innovation in tandem with the local economy and industries.

 Notably, all seven of YU’s submitted projects were approved, demonstrating the university’s strong planning capabilities and execution potential.  These projects include: ▲Establishing a K-Complete Startup Ecosystem; ▲Fostering Gyeongbuk’s Specialized Anchor Enterprises; ▲Domain Technology-Deep Tech R&D for SMEs; ▲Building an All-in-One Platform for Realizing Innovative Ideas; ▲Training Advanced, Industry-Ready Talent for Future Leadership; ▲Developing the Gyeongbuk Mobility Innovation University; and ▲Advancing the Knowledge-Sharing Platform on Korea’s Development Experience. Each project aims to establish a comprehensive industrial support system, covering the entire innovation lifecycle.

 Through this initiative, YU plans to leverage its technology, facilities, and spaces to enhance the startup ecosystem while creating a region-specific R&D support system to accelerate the technological advancement of local businesses. A key highlight is YU’s collaboration with Daegu University and Catholic University of Daegu to establish the Gyeongbuk Mobility Innovation University, ensuring a structured pipeline for talent development in the mobility sector. Additionally, YU will work closely with regional industries to create K-Innovation Labs, where groundbreaking ideas can undergo testing, validation, and commercialization. Furthermore, YU is committed to fostering sustainable regional and global growth. The university will expand its expertise in Korea’s development experience, particularly the Saemaul Undong (New Village Movement), to meet international development needs and establish a specialized Gyeongbuk Model for International Development.

President CHOI Oe-chool emphasized, “With YU’s strengths in education, R&D, and industry-academic cooperation, the RISE initiative will drive both regional industrial growth and YU’s own advancement. We will actively push forward with RISE to foster talents who will lead regional development, national progress, and global prosperity.”

 With this selection, YU will strengthen its role in fostering a regional innovation ecosystem and leading the development of local industries. It is also expected to play a pivotal role in the future growth of the Gyeongbuk region and the cultivation of talent. In addition to the RISE initiative, YU plans to actively engage in other national strategic projects such as the K-U City, REGO Modular Ministerial Cooperation Project, and Policy-Linked Initiatives, further contributing to regional development and sustainable growth.