Celltrion and Incheon City to Establish a 'Bio Cluster' in Songdo

[Asia Economy Reporter Cho Hyun-ui] Celltrion announced on the 5th that it has signed a Memorandum of Understanding (MOU) with Incheon Metropolitan City to establish a "Global Bio Innovation Cluster" based in Incheon and Songdo.

Through this agreement, both parties plan to build a global bio hub centered around Songdo. They aim to develop a bio cluster focused on attracting domestic and international bio healthcare companies and research institutes, as well as localizing raw and subsidiary materials, to contribute to the advancement of a global-level bio healthcare ecosystem.

They also agreed to collaborate to expedite the construction of Celltrion's third plant, currently in the planning stage, to aid the development of the Songdo area. Celltrion plans to support the establishment of the bio cluster by sharing its expertise gained from growing into a leading global bio company based in Songdo.

Both parties will actively introduce funds for the creation and development of a bio innovation ecosystem. A separate organization will be established to promote venture startups and pursue the localization of bio raw and subsidiary materials.

They will build a cooperative system to attract the "Bio Process Specialized Center" for nurturing and supporting excellent talent in the bio industry. Additionally, a follow-up task force will be formed to actively operate the "Celltrion Group Vision 2030," which plans to invest a total of 40 trillion KRW in the pharmaceutical and bio sectors by 2030.

Seo Jung-jin, Chairman of Celltrion Group, said, "Celltrion, which started in Incheon Songdo and has nurtured the dream of the bio industry together with the local community, has now grown into a truly global bio company. Through the activation of the Songdo bio cluster, we will actively participate in the development of the domestic bio industry and the fostering of related industries."

This MOU was made as a follow-up measure to realize the "Celltrion Group Vision 2030." Last May, Chairman Seo announced a mid- to long-term growth plan at Incheon City Hall aiming to invest a total of 40 trillion KRW by 2030?25 trillion KRW in biopharmaceuticals, 5 trillion KRW in chemical pharmaceuticals, and 10 trillion KRW in U-healthcare?with the goal of creating 110,000 jobs.

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