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Gujarat, Korea ink pact on tech park

Korea Land Corporation (KLC), a government of Korea owned organisation, will be set up an Industrial Park/Technology Zone in Valsad district.

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Korea Land Corporation (KLC), a government of Korea owned organisation, will be set up an Industrial Park/Technology Zone in Valsad district.

This is part of the Gujarat Vittal Innovation City (GVIC) Ltd, a high-tech multi-product special economic zone jointly promoted by the state’s Gujarat Industrial Development Corporation (GIDC), and the EMPI Vittal Centre INNOPOLIS Consortia, in a strategic area on the Delhi Mumbai Industrial Corridor (DMIC) in Valsad. 

A delegation of Korean government, led by Do Youp Kwon, vice minister, ministry of land, transport and maritime affairs of the Republic of Korea, signed a tripartite memorandum of agreement (MoA) with the Gujarat Government, the Korea Land Corporation and the Gujarat Vittal Innovation City Ltd, in the presence of chief minister, Narendra Modi, on Tuesday.

The Gujarat Vittal Innovation City (GVIC) is a proposed ecosystem for knowledge-based services, knowledge-based manufacturing, R&D and incubation activities, inspired by global high technology innovation clusters like the Silicon Valley in the US, Hsinchu in Taiwan, Tsukuba in Japan, Daedeok INNOPOLIS in Korea and Sofia Antipolis in France.

“The park is going to function in the backdrop of the Free Trade Agreement the Government of Korea is going to sign very shortly with the Government of India. In the first phase, we have reserved approximately 800 acres for KLC to develop a model world-class Korean industrial cluster with a Korean Township as a co-developer,” said the chairman of GVIC.

“It has taken significant effort to orient the Koreans to shift from Chennai and NCR to Gujarat, which they are now willing to do after a year of due diligence,” he added.
The GVIC project is expected to generate direct and indirect employment for about one lakh people.

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