Kim Jin-yong, Head of Incheon Free Economic Zone Authority, "Creating Songdo Bio Industry as South Korea's Future Growth Engine"

Emphasis at the Keynote Speech of the Annual Conference Hosted by ULI Korea

Jinyong Kim, Commissioner of the Incheon Free Economic Zone Authority, emphasized, "We will develop the Songdo Bio Cluster into a world-class global bio hub, establishing it as a future growth engine for the Incheon Free Economic Zone (IFEZ), Incheon, and South Korea."

Commissioner Kim made these remarks in his keynote speech titled "Discoveries of IFEZ Related to the Songdo Bio Cluster" at the annual conference held by the global urban real estate research organization, Urban Land Institute (ULI) Korea, on the 29th at a hotel in Seoul.

He explained, "The biopharmaceutical production capacity of the Songdo Bio Cluster currently stands at 880,000 liters, the largest for a single city worldwide, and will reach 1.3 million liters upon completion of Samsung Biologics Plant 5. Major Korean bio companies such as Celltrion, Samsung Biologics, and SK Bioscience, along with global companies like Merck and Sartorius, have either settled in or begun construction."

He continued, "Recently, the mega plant of Lotte Biologics was also attracted, and infrastructure development to leap forward as a global bio hub has begun with the groundbreaking of the Bio Process Workforce Training Center and the Pharmaceutical and Bio Commercialization Center."

Commissioner Kim stated, "We will do our best to enable the Songdo Bio Cluster to become a global bio hub through development strategies such as expanding corporate attraction, creating infrastructure for fostering innovative industries, and activating win-win networks," and requested much interest, support, and investment in IFEZ.

Kim Jin-yong, head of the Incheon Free Economic Zone Authority, is delivering a keynote speech on "IFEZ's Discoveries Related to the Songdo Bio Cluster" at the annual conference hosted by the Urban Land Institute (ULI) Korea on the 29th.
[Photo by Incheon Free Economic Zone Authority]

ULI is an international nonprofit organization established in the United States in 1936, with approximately 47,000 members across more than 100 countries worldwide. It researches and investigates key issues related to land use, environment, and urban real estate and provides educational programs.

It is known for its strengths in addressing issues in residential and commercial real estate development, community revitalization, real estate finance and investment, sustainability and economic research, and advisory services on innovation in development projects.

The ULI Korea chapter has 200 members, including financial investment firms, real estate developers, asset management companies, construction firms, and government investment corporations.

In April, the Incheon Free Economic Zone Authority signed a business agreement with ULI Asia Pacific to utilize global platforms and member networks for investment attraction IR marketing, activation of development projects, and strengthening industrial ecosystem capabilities.

-

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