[Asia Economy Yeongnam Reporting Headquarters Reporter Koo Dae-sun] Cori Pohang, an affiliate of Cori Group, a bio-specialized company, will move into the Pohang Convergence Technology Industrial Complex.
The Daegu-Gyeongbuk Free Economic Zone Authority announced on the 14th that Cori Pohang has signed a contract to move into the Pohang Convergence Technology Industrial Complex.
Cori Group plans to invest 200 billion KRW on a 51,846㎡ site within the Pohang Convergence Technology Industrial Complex to build research and production facilities related to pharmaceuticals and diagnostics.
Cori Group, led by Lim Jong-yoon, president of Hanmi Pharmaceutical, is a bio-healthcare R&D and new business incubation specialized company headquartered in Hong Kong, operating local subsidiaries in Korea, China (Beijing), and the United States.
Through this investment, they plan to establish research and production facilities for pharmaceuticals such as vaccines and immuno-oncology drugs, as well as diagnostic medical devices, utilizing it as an advanced base for the global bio-healthcare business and realizing the KHUB Science Park.
KHUB Science Park is an international standard vaccine hub capable of implementing all functions of the vaccine business from education, research, clinical trials to production. It aims to provide workforce training and research and production facilities necessary for securing public goods such as vaccine or diagnostic raw materials.
A Cori Group official said, “As the first step to establishing KHUB Science Park has been taken, we will spare no effort to grow into an advanced base for the global healthcare business and take the lead in becoming a model case of public projects through industry-academia-research-government cooperation.”
The Pohang Convergence Technology Industrial Complex, where Cori Group decided to invest, covers 1.47 million㎡ (450,000 pyeong) in Daeryeon-ri and Iin-ri, Heunghae-eup, Buk-gu, Pohang City. Construction began in 2018, and it is being developed as a specialized district for core strategic industries such as bio, parts and materials, green energy, and R&D, with completion expected by the end of this year.
Currently, 20 companies in core strategic industries have signed lease contracts, and facility construction for resident companies is scheduled to begin in earnest early next year.
Choi Sam-ryong, head of the Daegu-Gyeongbuk Free Economic Zone Authority, said, “With Cori Group’s confirmed investment, we expect the Pohang Convergence Technology Industrial Complex to play a major role in advancing as a global hub for the bio industry. We will actively support the entire process from design to factory construction and registration to ensure the project’s success.”
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