Jang Young-jin, Vice Minister of Industry, "Reviewing Tax Support Measures for Investment in Bio Companies"

Bio Industry Meeting in Songdo

Jang Young-jin, First Vice Minister of the Ministry of Trade, Industry and Energy, is having a conversation with officials at Hyundai Motor and Kia's Hwaseong Plant in Gyeonggi Province on the 18th.

[Asia Economy Sejong=Reporter Dongwoo Lee] Jang Young-jin, the 1st Vice Minister of the Ministry of Trade, Industry and Energy, said on the 26th, "We will review measures to resolve location difficulties and tax support plans so that bio companies can invest freely."

On the same day, Vice Minister Jang held a meeting with Samsung Biologics, SK Bioscience, Celltrion, and others at G Tower in Songdo, Incheon, stating, "We will nurture the bio industry as the second semiconductor industry."

He added, "The new government has a bold vision to leap forward as a global bio-health hub and will actively support investments by bio companies," and "We will concentrate policy capabilities to identify and resolve factors that hinder our companies' investments."

Vice Minister Jang also said, "For South Korea to solidify its status as a global bio production hub and diversify the supply chain of raw materials and parts, investments from domestic and foreign companies are essential," and "We will review measures to resolve location difficulties and tax support plans so that bio companies can invest freely, and will consult with related ministries."

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