05/19/2022

Clinomics Inc. Selected as First ‘High-Tech Company’ within the Ulsan Ulju Strong Small R&D Zone

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Clinomics Inc., the first faculty-based startup of UNIST, has recently been selected as a ‘High-Tech Company.’ This makes the company the first ‘High-Tech Company‘ within the Ulsan Ulju Strong Small R&D Special Zone. A signboard-hanging ceremony was also held to commemorate the event. The ceremony took place in UNIST Engineering Building (110) on May 4, 2022.

High-Tech Companies are those that are occupied within the R&D special zones, among which produce and sell products with higher technology intensity and faster technological innovation speed, and those that are designated in accordance with Article 9 of the Special Act on the Promotion of Special Research and Development Zones.

The conditions required for designation are ▲ Patent holders both at home and abroad ▲ Moving into special R&D zones ▲ Producing and selling high-tech products in accordance with the Industry Development Act ▲ Having an increase in sales related to high technology by more than 20% ▲ Having an increase in R&D expenditure ratio by more than 3~5% depending on the amounts of sales.

Clinomics Inc. has been designated as the ‘High-Tech Company‘ within the biotechnology sector. The achievement of this well-earned recognition of obtaining certification in ‘Personal Genetic Testing, Using NGS-based Genotyping Technology” and ‘Concentration Technology of Circulating Tumor Cell.”

With this selection, Clinomics Inc. will be given various tax benefits, which includes 100% exemption from corporate income tax for the first three years and a 50% reduction in such tax for the following two years. It will be also exempted from acquisition tax. The company will also receive 100% property tax exemption for the first seven years and a 50% reduction in such tax for the following three years. Additional points will be also provided when participating in the Special Zone Promotion Project.

Established in 2011, Clinomics Inc. is the first UNIST-based faculty startup that was listed on the KOSDAQ market in December 2020. The ceremony has been attended by local officials and representatives from UNIST, Ulsan Metropolitan City, Korea Innovation Foundation, IP law firms, and business enterprises.