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Economy of Daejeon


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restaurants, standard Korean western-type bars and coffee shops. The Dunsan-area is a place for the workers of the new Daejeon to live close to their offices, most able to walk to work, and dine and shop in a new urban environment.Daejeon features a technology cluster known as DaedeokInnopolis defined by the national Universities KAIST (Korea Advanced Institute of Science and Technology) and Chungnam National University and surrounded by government research institutes, government-invested corporate research institutes, corporate research centers and venture companies. When the Boston Consulting Group released recently a list of nations leading in innovation, Korea was ranked number two, just below Singapore.

The research institutes and universities in Daedeok Valley have spun off multiple start-ups and continue to do so at a remarkable pace. Korea has invested heavily in building up both the research expertise for over thirty years, creating long-term research programs of scale and depth. There are over seven thousand Ph.D researchers in the sciences in Daedeok and state-of-the-art infrastructure is in place that enables Daedeok to play a leading role in the world.

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