Jeonnam Province Signs 83 Billion KRW Investment Agreement with Bio Companies

[Muan=Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Jeonnam Province announced on the 26th that it held an investment attraction briefing session for bio companies at the Walkerhill Hotel in Seoul and signed large-scale investment agreements with leading domestic bio pharmaceutical companies such as GC Green Cross.

The event was held to attract leading domestic and international bio companies to Jeonnam and to activate investment in leading venture and startup companies.

More than 200 officials from institutions and companies, including National Assembly member Shin Jeong-hoon, Lee Seung-gyu, Executive Vice Chairman of the Korea Bio Association, and GC Green Cross, Cellid, Chong Kun Dang, CJ CheilJedang, Korea Kolmar, and Sartorius Korea, attended the investment attraction briefing session, showing high interest.

The event consisted of the Jeonnam Bio Company Investment Attraction Briefing, investment agreement ceremony, institution and company promotional booths, and investment consultation meetings. Jeonnam Province introduced its commitment to fostering the bio industry and its abundant support policies.

At the bio company investment attraction agreement ceremony, GC Green Cross agreed to expand investment in a basic vaccine production facility worth about 30 billion KRW in the Hwasun Vaccine Industry Special Zone, and ProAptec Co., Ltd. agreed to build an albumin production plant worth 10 billion KRW in the Hwasun Biopharmaceutical Complex, among a total of 13 agreements worth 83 billion KRW.

At the bio company investment attraction briefing session, the strengths of Jeonnam’s bio industry, which forms a bio-industry belt of ‘advanced new drugs - natural products - integrative medicine - healing’ based on abundant natural biological resources, were promoted intensively.

In particular, CEO Lee Je-jung of Baxel Bio, which was founded in Jeonnam and achieved a KOSDAQ listing, and CEO Jung Dae-hyun of Bio FD&C appeared as presenters to introduce success stories of bio companies supported by Jeonnam Province, which is expected to be a good opportunity for companies considering investment in Jeonnam.

Also, Lee Hak-sung, Director of the Natural Resources Research Center, presented cases where the Jeonnam Bio Industry Promotion Agency supported bio companies with excellent technologies and research and development (R&D) achievements held through region-specific specialized research centers in Jeonnam.

At the investment consultation meeting, leading investment firms such as Mirae Asset Venture Investment, Korea Investment Accelerator, Earnest Ventures, and SL Invest participated and conducted investment consultations with venture companies in the Jeonnam region.

Park Chang-hwan, Jeonnam Province’s Deputy Governor for Political Affairs, emphasized, “Jeonnam Province has long declared its commitment to fostering the bio industry and focused on expanding infrastructure and creating an environment conducive to corporate activities. Based on the full-cycle bio industry infrastructure built by Jeonnam, we will further accelerate the development of the Jeonnam bio industry ecosystem and play a key role in Korea’s bio industry.”

Jeonnam Province is promoting designation as a national advanced medical complex focusing on fostering the immune cell and gene therapy industry for a new leap as a hub of Korea’s bio industry, which has been confirmed as a regional pledge of the current government.

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