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The basic incentive for national and regional development in the time of knowledge-based era is innovation vitality rather than industry agglomeration. Innovation has a close relation with intelligence and academy, which generally comes from the universities. The contributing role of the local universities to their localities in the time of knowledge-based era is more imperative than ever. This paper is based on the survey on the professors of Mokpo National University for their contribution to the industries, institutes, its localities, Mokpo and Chonnam Province. The result notifies that their current contribution is weak, despite the abundance of their professionalism. In the time of knowledge-based era the utilization of the professors' experiences is highly significant. In the time of knowledge-based era, it is a great fortune and benefit for Korea to have so many universities. The low contribution of university professors in Korea, especially that of the local universities to their localities is abnormal, for they share high academic specialties. The role of universities becomes the center of the academic-industrial-government-civil cooperation in the time of knowledge-based era.