President Park Jongrae: "Technology Commercialization is a Key University Responsibility"
"Market to Tech" Strategy to Boost Public Technology Commercialization
UNIST (President Park Jongrae) announced on July 2 that UNIST Technology Holdings (CEO Kim Youngsik) has been selected as the final general partner (GP) for the public technology commercialization sector of the Korea Fund of Funds.
The fund to be managed amounts to 12 billion KRW. Of this, 6 billion KRW will be contributed by the government’s Fund of Funds, while the remaining 6 billion KRW will come from already confirmed investors.
This is the first time that UNIST Technology Holdings has been selected as the sole general partner for the Fund of Funds.
The fund will focus on investing in small and venture businesses that are either launching startups or pursuing commercialization by utilizing public technology. In particular, it will implement a “Market to Tech” strategy, aiming to discover and commercialize potential public technology resources in collaboration with major companies in the region.
The fund’s main investment approach is distinctive. UNIST Technology Holdings plans to concentrate on supporting startups in which entrepreneurs and researchers work together to commercialize public technology.
The successful formation of this fund was greatly supported by the active backing of Ulsan Metropolitan City and local entrepreneurs. Ulsan City provided extensive support in various areas, including securing investment resources and persuading the central government.
Additionally, local companies such as BNK Kyongnam Bank and Lee Junho, Honorary Chairman of Deoksan, participated as investors, contributing to the successful establishment of a Ulsan-style technology startup ecosystem.
Park Jongrae, President of UNIST, stated, “Technology commercialization and startup support are important responsibilities for universities,” adding, “This achievement was made possible thanks to the collaboration of Ulsan City and the local industrial sector.” He continued, “We will realize the social and economic value of technology centered on Ulsan and create a virtuous cycle for public technology commercialization.”
This achievement aligns with President Park’s vision of pursuing regional co-growth through university technology development. President Park has actively recruited experts to strengthen the investment capabilities of the technology holding company.
As a result, Han Taegyu has newly joined as division head. Han stated, “Through this fund, we will connect UNIST’s research resources with startups nationwide to create a public technology commercialization model that will innovate the regional industry,” and added, “We will establish a differentiated fund management strategy and create successful case studies.”
UNIST Technology Holdings is a wholly owned subsidiary of UNIST. With the establishment of this fund, it is expected that a large-scale investment ecosystem based on public technology, closely linked with industry, will also be realized in the region.
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