Ministry of Industry to Conduct Public Contest Within the Year and Select Winners in the First Half of Next Year
Incheon City is launching efforts to attract a bio-specialized complex. On the 1st, the city announced that it is preparing to attract the complex by establishing a development plan for the specialized complex to apply for the ‘Bio National Advanced Strategic Industry Specialized Complex’ scheduled to be announced by the Ministry of Trade, Industry and Energy in the first half of next year.
Earlier, the government announced the ‘Bio Economy 2.0 Promotion Direction’ in July this year and revealed plans to designate bio-specialized complexes in the first half of next year to focus on supporting the bio advanced strategic industry ecosystem.
The National Advanced Strategic Industry Specialized Complex refers to designated areas where strategic industries such as bio and related strategic technology education and research facilities, as well as industrial facilities, form an innovative ecosystem to promote investment and technology development. Once designated as a specialized complex, it receives support for creating an innovative ecosystem within the complex, including research and development (R&D), workforce training, and performance testing centers; infrastructure support such as power and water supply; exceptions for preliminary feasibility studies for support projects; expedited processing of permits; and customized packages including technology, personnel, and finance.
The Ministry of Trade, Industry and Energy plans to start the application process for the specialized complex within this year and comprehensively evaluate applicant regions based on possession of national advanced strategic technologies, presence of leading companies and investment plans, maturity of regional industrial ecosystems, and potential for securing infrastructure and specialized personnel.
Plan for the Creation of a Bio National Advanced Strategic Industry Specialized Complex [Provided by Incheon City]
Incheon City intends to make every effort to attract the bio-specialized complex by emphasizing its role as a core region responsible for South Korea’s global bioeconomy leadership policy.
The Songdo Bio Cluster in Incheon currently houses over 100 global companies and research institutes, including Samsung Biologics and Celltrion, which possess national advanced strategic technologies in animal cell culture and purification. The Songdo Bio Cluster, which has the world’s largest biopharmaceutical production capacity for a single city, accounted for 42% of South Korea’s total pharmaceutical exports over the five years from 2018 to last year.
Additionally, Incheon boasts excellent transportation conditions with an international airport and seaport, a global export and logistics hub, and a global business environment within its free economic zone, providing an optimal environment favorable for attracting corporate investment and fostering the bioindustry.
Accordingly, Incheon City is planning a ‘Bio-Triangle’ specialized complex connecting the Songdo Bio Cluster, a hub for biopharmaceutical production, research and development, and workforce training; the Namdong Industrial Complex, a hub for bio raw materials and parts and materials development; and the Yeongjong area, a hub for global bio cooperation.
Lee Nam-ju, Director of the Future Industry Bureau of Incheon City, stated, "To create a bio innovation ecosystem differentiated from other local governments, we will do our best to organically cooperate with industry, academia, research, and government based on Incheon’s strengths to ensure the successful attraction of the Bio National Advanced Strategic Industry Specialized Complex."
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