President Park Geun-hye on Monday visited North Jeolla Province cities for the first time since taking office in early 2013 to help mark the launch of a state-funded center for startup companies.

The president urged the center, established under her creative economy mantra, to play a leading role in developing the carbon fiber and food industries in the region.

“The Jeonbuk center should become a center for the realization of the creative economy by developing both traditional and future industries in harmony,” said Park at the center’s opening ceremony in Jeonju.

The innovation center in Jeonju is the latest in a series of government launches of regional offices to help nurture startups and venture companies. Under the plan, the government plans to launch centers in 17 metropolitan cities and provinces nationwide by the end of June next year.

The nation’s largest conglomerates, including Samsung Group, agreed to provide technical and financial assistance to these firms by signing partnerships with innovation centers. Samsung supports a center in Daegu while SK Group is tied up with Daejeon. Textile giant Hyosung is set to support the newly opened center in Jeonju. By collaborating with Hyosung, the Jeonju center aims to nurture the carbon fiber industry, in which the conglomerate is taking a lead in development.

Hyosung Group has already launched a 10 billion won worth fund with North Jeolla Provincial Government to help regional firms take part in the development of the industry.

Carbon fiber has 10 times the strength intensity of steel-frame structure.

“Carbon fiber produced at Hyosung factory is grabbing attention as (an essential raw material) to replace steel,” said Park. “I expect hidden champions to be nurtured through the center where Hyosung plans to transfer its capabilities.”

The president also called for the development of innovative agricultural goods in the region.

The South Korean government plans to create a food- and bio-cluster in North Jeolla Province by relocating state agencies including Rural Development Administration to the region.

By Cho Chung-un (christory@heraldcorp.com)