Ulsan Sets Sail for 'Genome Service Industry Special Zone' Development

125 Billion KRW in National Funding and 23.9 Billion KRW in First-Year Project Budget Invested

‘BioData Farm’ Plan and More... On-Site Press Conference on the 12th

Location of Ulsan Genome Service Industry Special Zone.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Ulsan City is set to actively promote the establishment of the ‘Genome Service Industry Regulatory Free Zone’.

Ulsan City launched the ‘10,000 Genomes Project’ in 2016, the first nationwide initiative to analyze the standard genetic information of Koreans, and plans to complete it by the first half of this year.

In July last year, it was designated as a ‘Genome Service Industry Regulatory Free Zone,’ laying the foundation for fostering new industries in the field of genomic big data.

Since then, Ulsan City has secured 12.5 billion KRW in national funding for 2021, including 7.5 billion KRW for the core facility within the zone, the ‘Bio Data Farm Construction,’ and will invest a total budget of 23.9 billion KRW (10.4 billion KRW from city funds, 1 billion KRW from private capital) as the first-year project cost for the genome free zone this year.

On the 12th at 3 p.m., Ulsan City will hold an on-site press conference on the 3rd floor of the Corporate Research Center in the Ulsan Industry-Academia Convergence District, the planned site for the ‘Bio Data Farm’ construction, to announce detailed project plans such as the ‘Genome Free Zone Project and Biohealth Industry Development Plan.’

The main projects include the construction and operational demonstration of the Bio Data Farm for genetic information analysis and industrial application, development of disease-specific diagnostic markers for cardiovascular diseases and depression, and establishing a foundation for genomic analysis and therapeutic development to respond to infectious diseases.

To facilitate smooth commercialization in these fields and to establish necessary legal and ethical standards, Ulsan City will organize and operate an Institutional Review Board (IRB), a human-derived materials bank, and a distribution review committee under its jurisdiction. It will also collaborate with the National Institute of Technology and Standards to standardize the management system for genomic analysis and clinical data.

The event will be attended by 15 organizations, including the free zone operator Ulsan National Institute of Science and Technology (UNIST), Ulsan Information Industry Promotion Agency, and participating companies. Through a business agreement between Ulsan City and the free zone operator, they will also reinforce their commitment to fostering the local biohealth industry.

Amid high demands for expanding public healthcare to respond to infectious diseases due to the COVID-19 pandemic, the designation of the ‘Ulsan Genome Service Industry Regulatory Free Zone’ is expected to provide a foundation for utilizing domestic genomic information, which will greatly contribute not only to regional medical development but also to maintaining the national quarantine network and strengthening disease response systems.

Ulsan City anticipates attracting more than 30 companies, creating 3,763 jobs, and generating a production inducement effect of 387.5 billion KRW by 2026 through the establishment of the free zone.

The ‘Genome Service Industry Regulatory Free Zone’ will be established over an area of 1.19 km² across five locations, including UNIST and the Techno General Industrial Complex, with a total project cost of 40.7 billion KRW (21.6 billion KRW national funds, 17.1 billion KRW city funds, 2 billion KRW private capital) invested over two years from December 2020 to November 2022.

Ulsan City plans to apply for an additional review to extend the project period by two years if expansion of the free zone is necessary due to project scope or performance growth.

Song Cheol-ho, Mayor of Ulsan, stated, “With the promotion of the Ulsan Genome Service Free Zone project, domestic development of COVID-19 vaccines and various infectious disease treatments will become possible,” adding, “We also plan to link and promote the establishment of the newly funded national project this year, the Occupational Disease Specialized Smart Healthcare Research Center.”

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