Chungcheongnam-do

Receiving intensive attention from developing nations as a successful Korean-style STP model, the Park has solidified its status as a hub organization in the world and generated rich results by facilitating star companies.

It was established as a center of local industrial growth to strengthen Chungnam's technological competitiveness and vitalize its local economy. The investments of its quality venture firms increased to 135.9 billion won in 2009 from 50 million won in late 2006.

▲ CTP's Display Industry Center, a high-end LCD, OLED, and Solar cell technology development center

Being a Tenant of CTP is a Stepping Stone for Success

Records show that the tenant companies of CTP have made a considerable increase in sales for the last three years.

The overall sales of the tenant companies in 2009 were 449.6 billion won, which was 7.1 times higher than the 63 billion won in 2006. The number of tenants also increased to 132, which was 1.5 times more than the 81 in 2006. The number of their combined employees was 1,481, 2.3 times more than the 651 in 2006. The rate of tenant space utilization and that of equipment utilization recorded 90.28% and 81.23%, respectively. Talent production and network business in 2009 also achieved noteworthy results compared to 2006.

Mr. Won-cheol Jang, director of CTP, said, “Management and employees played a huge role in CTP escaping from the bottom group in the nation and entering the top level in two years. One of the greatest rewards I had serving CTP is that it grew as one of the nation's major TPs with a corresponding greater brand value to claim, from which flocked more talented individuals from all over the nation.”

The Stories of Seven Presidents

Chungnam Techno Park published a book titled The Stories of Seven Presidents, which was about the growth stories of seven small- or medium-sized venture firms and their CEOs at CTP, in commemoration of its tenth anniversary in October, 2009. The combined sales of the seven firms reach 270 billion won and the number of their combined employees reaches about 700. The critics say that their stories convey management wisdom to field businessmen and present dreams and visions to young entrepreneurs of the future.

The No. 1 star company of CTP is Ever Techno Co., Ltd. (chief executive, Baek-woon Jeong), which specializes in manufacturing semiconductors and LCD equipment. It was founded at a stable warehouse, the old building of CTP, with three employees in May, 2000. It took only seven years to go public at KOSDAQ and reach the milestone of 70 billion won in sales. Its sales recorded 104.1 billion won as of June, 2010 and it and its affiliates now hire 450 employees as a middle-size firm.

▲ A simulator for electronic parts and devices at CTP's Automobile Industry Center

Device ENG Co., Ltd. (chief executive Bong-jin Choi) is one fine example that demonstrated the strengths of CTP's startup and incubation system. A developer of LCD equipments and software, it was set up in college and recorded sales of 12.6 billion won only in three years since it became a CTP tenant. Its sales reached 12.1 billion won based on its plant as of June, 2010. Its sales of 2010 are expected to reach 20 billion won.

An expert in functional cosmetic products, Cotde Co., Ltd. (chief executive Dong-il Jang) was also born in CTP. Its major product “Zymogen” won the Gold Medal in the category of alternative medicine at “INPEX 2005,” America's largest invention show, and was recognized for its superior efficacy. Its sales in 2009 reached 4.7 billion won and it has evolved into a professional cosmetic product company exporting its functional cosmetic products to eight countries including Japan and Singapore.

A rapidly rising new star in heatproof materials, TTM Co., Ltd. (chief executive Yu-jin Choi) started with a small space of about 33㎡ at the time it became a CTP tenant. It succeeded in identifying its strategic product and increasing its sales exponentially within six months from its foundation. Today its business space covers over 1,000㎡. With heatproof parts, it achieved 3.3 billion won sales in 2009 and 6.4 billion won in June, 2010. It's on the right path to becoming a global company to provide materials to superior global corporations.

Other successful players that benefited from CTP's startup and incubation program are Biwon Tech Co., Ltd. (chief executive Eok-gi Kim), which specializes in inspection devices for LCD TV, Tomorrow Co., Ltd. (chief executive Jeong-shik Han), which is a specialist in animation, and Dreamee Co., Ltd. (chief executive Ae-hee Choi), which designs LCD and electric field products.

Regarding the book, a source at CTP said, that “CTP runs the “Contact Center,” which provides comprehensive support services to companies according to clients' needs. Introduced first among the TPs in the nation, the Contact Center offers customized comprehensive support services with the business expert members who visit companies and provide them with consultation. It has proven very helpful with business growth.”

▲ A sound-visual mixing room at CTP's Multi-media Industry Center

About Chungnam Techno Park

Established to strengthen Chungnam's industrial technological competitiveness and vitalize its local economy, Chungnam Techno Park is an industrial technological complex that engages in policy planning, startup and incubation, support for small- or medium-sized companies, and research & development of core technologies to help local strategic industries grow.