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LOS ANGELES, CA, December 09, 2021 /24-7PressRelease/ -- Gyeonggido Business & Science Accelerator (GBSA) announced on December 2nd that it will begin the test-bed building project for AI technology demonstration.
The test-bed project will enable AI firms in Pangyo Techno Valley to easily use Gyeonggi-do's infrastructure in the area for proving and testing their new products and services. The test-bed will provide Pangyo citizens with an opportunity to experience new technologies while supporting fast commercialization of innovative idea.
The project is led by the Ministry of Science and ICT and managed by the National IT Industry Promotion Agency. The central government will inject 19.5 billion Korean won, for three years, by 2023. The fund will be handled by Gyeonggi-do government. Having been selected for the project, the GBSA publicly collected AI projects for the demonstration test-bed on July. The 7 selected projects covered the AI-plus-mobility sector with the "smart crosswalk for pedestrians' safety" and the "smart driver monitoring system for safe deriving", the living sector with the "AI-based skin and scalp condition check system" and the "AI-based immersive content" and disaster prevention sector with the "AI-based unmanned security service for households", the "AI-based valley/stream monitoring system" and the "AI-based industrial safety management service".
The GBSA's the fourth industrial revolution division Director Chung, Kwang-yong said, "We will continuously work to support testing and commercializing of AI technologies based on the AI demonstration test-bed that is under construction."
Pangyo Technovalley is an innovation hub for global companies comparable to the Silicon Valley in the US, Zhongguancun in China, and STATION F in France. It is an Asia tech hub with 1,259 IT, BT, CT, and NT companies that possess innovative products and technologies. Located just south of the metropolitan area, it provides the best environment for Korean companies to do business with great transportation access and infrastructure.
Various high-tech companies are located in Pangyo Technovalley, and it is occupied by 64,000 full-time employees, many in their 20-30s. In terms of industry, the companies are engaged in information technology, contents technology, biotechnology, and nanotechnology.
With the support of innovative companies with global capabilities such as Kakao, Naver, AhnLab, Krafton, NCSoft, Nexon, and Hancom, companies in Pangyo Technovalley recorded 107 trillion won in sales last year. Investment and infrastructure growth in Pangyo is expected to continue, with the Metaverse hub entering Pangyo this year.
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