Export-Import Bank and GC Green Cross Set to Launch Korean Bio Wave in North American Market

Bang Moonkyu Visits GC Green Cross, a Leading Biohealthcare Company
Discusses North American Market Expansion
“We Will Lead Support for Global Expansion of Innovative Bio Companies
Through Investment, Loans, and Guarantees”
Export-Import Bank Plans to Provide 1 Trillion Won in Policy Financing
Including R&D Loans, Guarantees, and Fund Establishment

On the 13th, Bank of Export-Import President Bang Moon visited GC녹십자, a comprehensive biohealthcare company located in Yongin, as part of his on-site communication efforts. He listened to plans for overseas expansion, including the North American market, and discussed financial support measures. From the second person on the left: Yongjun Heo, CEO of 녹십자 Holdings; Bang Moon, President of Bank of Export-Import; Ilseop Heo, Chairman of GC녹십자. Photo by Bang Moon

[Asia Economy, reporter Kangwook Cho] Bang Moonkyu, President of the Export-Import Bank of Korea, is making on-site visits to leading companies in the biohealthcare industry, one of the three new industries the government is currently prioritizing for development.

The Export-Import Bank of Korea announced that on February 13, President Bang visited GC Green Cross, located in Yongin, to hear about the company’s plans for overseas expansion, including entry into the North American market, and to discuss financial support measures.

GC Green Cross is a leading comprehensive biohealthcare company in Korea, providing a full range of solutions from the development and manufacturing of essential pharmaceuticals such as blood products, vaccines, and specialty medicines, to disease prevention, diagnosis, and post-treatment management. Blood products are essential medicines produced by separating blood into components (such as red blood cells, plasma, and immunoglobulins) and undergoing virus removal processes, and are used in trauma centers nationwide.

In 2017, aiming to enter the world’s largest biohealthcare market in North America, this company became the first in Korea to complete construction of a bioplant in Canada. Since then, it has established an R&D subsidiary in the United States and continues to play a leading role in expanding the presence of Korean bio companies in overseas markets.

In particular, GC Green Cross’s flagship product, the immune disorder treatment “IVIG-SN (IVIG-SN),” has completed clinical trials and is in the process of applying for sales approval in the United States, raising expectations for a full-scale entry into the North American market.

At the meeting, Ilseop Heo, Chairman of GC Green Cross, stated, “Becoming a global pharmaceutical company is a critical challenge for Korea’s healthcare industry in this era. We will continue to enhance our R&D competitiveness through ongoing innovation. To achieve this, comprehensive financial support for R&D and facility investments from policy finance institutions such as the Export-Import Bank is essential.”

In response, President Bang said, “The biohealthcare industry is Korea’s next-generation core industry, and at this crucial time when pioneering overseas markets is urgently needed, we will play a leading role in supporting innovative companies’ international expansion by utilizing the Export-Import Bank’s full range of financial tools, including investment, loans, and guarantees.”

This year, the Export-Import Bank plans to provide about 1 trillion won in policy financing to the biohealthcare and pharmaceutical sectors. This includes loans and guarantees for R&D such as new drug development, funding for facility and operating capital to support overseas localization of bio companies, and support for discovering public healthcare projects in developing countries.

Additionally, the bank plans to establish a 200 billion won Bio Fund (tentative name) to invest in small and medium-sized bio companies, actively contributing to the development of the industry’s ecosystem.

This content was produced with the assistance of AI translation services.