North Chungcheong commits 707.2 billion won to build a second Pangyo Valley

North Chungcheong Province is investing 707.2 billion won ($515 million) through 2030 to build a regional startup ecosystem modeled on Pangyo Valley, covering startup discovery, investment, scale-up and overseas expansion. The plan includes a 45 billion won startup park in Osong, Cheongju, the attraction of global bio platform BioLabs, a 100 billion won North Chungcheong Startup Fund and a 100.7 billion won North Chungcheong-type Regional Growth Parent Fund. The province had 33,273 startups and 65.6 billion won in venture investment last year, but its five-year startup survival rate declined to 35.5%. Separately, Salesforce Tableau product-management vice president Matthew Miller said an uncontrolled proliferation of AI agents could create technical debt through additional maintenance and security work, while enterprise software subject to regulatory compliance and security requirements may be difficult for agents to replace. Naver's cloud-based digital twin platform has been designated Saudi Arabia's national digital twin standard platform by the Digital Government Authority, following a 2023 project that mapped more than 6,800 square kilometers and over 920,000 buildings across Mecca, Medina and Jeddah in 2025. North Jeolla's 100 billion won Regional Growth Fund has also launched as the first regional growth fund outside the greater Seoul area, with 60 billion won from the government's fund of funds and participation from 17 institutions. Other developments include Korean apparel companies' use of physical AI in manufacturing and Moderna and Merck's personalized cancer vaccine achieving meaningful Phase 3 results in high-risk melanoma.

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North Chungcheong commits 707.2 billion won to build a second Pangyo Valley - CoinPost Terminal