Daejeon is particularly strong in IT because it is located so close to Chungnam Province (Chungcheong Namdo) which is the largest center in Korea for manufacturing advanced technologies. Rare indeed that a major research area is located geographically so close to a manufacturing hub. For example, the twin cities of Chungnam, Asan and Cheonan, are just 25 minutes from Daejeon by train and dominate the world of next generation display technologies (for which they control over 30% of the world market). Samsung Electronics has its crown jewels of manufacturing here. Many other firms produce specialized electronics and semiconductors in the Chungnam region.
The Chungnam Techno Park near Asan features one of the most advanced multimedia studios, and advanced manufacturing facilities for automobile parts are nearby.
Towards Dangjin we find the most advanced steel refineries anywhere. Next door are grouped major centers for petrochemical production in Daesan. Much of the production for plastics and oil products employed in Korea, China and throughout the world starts here. In fact, Chungnam has become a critical part of the global economy because it is so closely linked to China's booming manufacturing sector.
Chungnam has the fastest rate of growth of any Korean province and brings in more FDI and has greater exports than any other part of Korea as well. The thriving IT and manufacturing ecosystem here assures an inexpensive, stable and experienced labor market that makes it competitive with China. In addition, suppliers of any number of specialized tools and services support this thriving business community, assuring that the day-to-day supplies for and repairs of, facilities in almost any specialization of manufacturing and IT can be met without a hitch.
Chungnam has ambitious plans to further expand its established fields and push forward the horizons in biotechnology and nano fabrication. New locations with full infrastructure are under construction in Cheonan valley, Ipam Industrial Complex and the Gwanchang Industrial complex that will provide unique opportunities for customized industrial complexes with favorable tax incentives.