Exploring Strategies for Regional Industry Development
Establishing a Mid- to Long-Term Master Plan
The Busan-Jinhae Free Economic Zone Authority (Commissioner Park Sungho) has launched a project to foster the biohealthcare industry.
On October 2, the Authority held the Biohealthcare Industry Development Strategy Meeting at Shilla Stay Seobusan to discuss joint directions and collaborative tasks for establishing a biohealthcare ecosystem in Busan and Gyeongnam.
This meeting brought together officials from Busan Metropolitan City, Gyeongsangnam-do, Busan-Gyeongnam Technopark, Gimhae Biomedical Industry Promotion Agency, Yangsan Pusan National University Hospital, Dong-Eui University, and venture capital firms, among other related organizations, to share the need for cooperation in industry development and to formulate actionable strategies at the regional level.
Participants highlighted the region's challenges, such as the absence of bio anchor companies, a fragmented cluster structure, and insufficient national investment, and focused on discussing practical solutions to overcome these obstacles.
Key tasks were proposed, including the selection of specialized fields for biohealthcare in the southeastern region and the establishment of a mid- to long-term master plan for industry development. Ongoing communication was emphasized as essential for advancing these initiatives.
Detailed action strategies suggested for implementation included: conducting a survey of the current status of local companies and resources; promoting a "Biohealth Academy" to nurture local talent and link them to the industry; forming the "Southeastern Bioindustry Development Council" to connect policies and projects; and reviewing the creation of a joint public-private bio fund.
Commissioner Park Sungho stated, "We must link the strengths of Busan and Gyeongnam into a single chain to survive in global competition," adding, "Through the operation of the council, talent development, and the creation of a joint bio fund, we will support the revitalization of the regional biohealthcare industry as a partner."
The Authority plans to use this occasion to institutionalize the strategy meeting, actively support the discovery of cooperative measures for fostering the biohealthcare industry in Busan and Gyeongnam, and gradually implement the identified action items.
Participants who have concluded the Biohealthcare Industry Development Strategy Meeting are pledging success.
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