Sandangong and Chungbuk Province Sign Business Agreement for 'Osong Enterprise Support Center'

Establishing a Bio-Innovation Ecosystem Foundation

Kim Jeong-hwan, President of the Korea Industrial Complex Corporation (left), and Lee Si-jong, Governor of Chungbuk Province, are posing for a commemorative photo at the business agreement ceremony for the construction of the 'Osong Enterprise Support Center' held at the Chungbuk Provincial Office on the 25th.

[Asia Economy Reporter Kim Daeseop] The Korea Industrial Complex Corporation announced on the 25th that it has signed a business agreement with Chungbuk Province to establish the 'Osong Enterprise Support Center' as a foundation for a bio-innovation ecosystem.

The business agreement ceremony was held at the Chungbuk Provincial Government Office. About 10 officials, including Kim Jeonghwan, Chairman of the Korea Industrial Complex Corporation, and Lee Si-jong, Governor of Chungbuk Province, attended. The Korea Industrial Complex Corporation and Chungbuk Province agreed to actively cooperate in the smooth construction of the Osong Enterprise Support Center, discovering and nurturing promising bio-related startups and venture companies, investment, and support for global market entry.

The Osong Enterprise Support Center is planned to be developed in Yeonje-ri, Osong-eup, Cheongju City, with a total floor area of 21,000㎡. The total project cost will be approximately 69.7 billion KRW. The Korea Industrial Complex Corporation and Chungbuk Province plan to establish a complex support system for resident companies by integrating and advancing the existing support system, promoting corporate innovation such as talent development, early startup discovery, and activation of startup incubation.

Kim Jeonghwan, Chairman of the Korea Industrial Complex Corporation, stated, "The Osong Enterprise Support Center aims to provide research and development space for startups in six new industries including the bio industry, concentrate corporate support institutions, and expand convenience facilities and residential environments to build a one-stop corporate support facility." He added, "Through this foundation, we expect it to develop into a core industry of the national economy as a new future growth engine."

Lee Si-jong, Governor of Chungbuk Province, said, "In preparation for the upcoming Fourth Industrial Revolution era, we plan to develop the Osong Enterprise Support Center as a startup hub center and a foothold for the global advancement of Korean startups in cooperation with the Korea Industrial Complex Corporation." He added, "We will spare no administrative support for the success of this project."

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