Signed Land Purchase Agreement for 8,760㎡ Research Site with Siheung City
Construction to Begin Within the Year
Expected to Become a Hub for Gene Therapy Research and More
The Korea Conformity Laboratories (KTR) will invest 125 billion KRW to build an advanced bio research center in the Baegot District of Siheung, Gyeonggi Province.
Perspective view of the advanced bio research center being constructed by the Korea Conformity Laboratories on the research site in Baegot District, Siheung. Provided by Siheung City
On August 13, the City of Siheung and KTR signed a land purchase agreement in writing for the establishment of a nationally certified bio facility and a gene therapy platform. This contract is a follow-up to the "Bio Specialized Complex Development Agreement" signed by the two parties in November of last year.
With this agreement, KTR will invest 125 billion KRW to construct the advanced bio research center on an 8,760-square-meter site (Research 1-2) located at 270-1 Baegot-dong, Baegot District. The center will house a biopharmaceutical production support center and facilities for supporting bio-based technologies.
Approximately 100 specialized personnel will be stationed at the research center, playing a key role in advanced bio fields, including gene therapy research. KTR plans to complete the necessary permits and approvals by October and begin construction in December.
The city expects this investment to accelerate the development of a bio-specialized complex focused on research and development (R&D) in the Baegot District. In particular, by establishing a hub to support bio companies in the southwestern part of the Seoul metropolitan area, the city anticipates not only strengthening the global competitiveness of resident companies, but also creating jobs through priority hiring for local residents and employment linkage programs.
The city also plans to actively provide administrative support to ensure KTR's stable investment and to establish an industrial base for gene therapy.
KTR President Kim Hyuncheol stated, "Based on the optimal location conditions of the Baegot District, Siheung City and KTR will work together to create the world's leading bio mega cluster."
Siheung Mayor Lim Byeongtaek also commented, "This investment attraction will serve as an important turning point for Siheung City to grow into the world's top bio cluster hub. We will implement proactive support policies to achieve mutual growth for both companies and the local community."
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