Bio SoBujang Industry Invests 300 Billion KRW in R&D Over 3 Years

On the morning of the 7th, the Ministry of Trade, Industry and Energy held a 'Bio Materials, Parts, and Equipment (SoBuJang) Solidarity Cooperation Council' along with a 'Bio SoBuJang Global Supply Chain Meeting' at the Westin Chosun Seoul Hotel in Jung-gu, Seoul. This council, launched in September 2020 to sustain mutual cooperation momentum among domestic bio SoBuJang demand and supply companies, includes institutions such as the Korea Bio Association and the Korea Institute for Industrial Technology Evaluation and Planning, as well as 83 private companies.

At the meeting, companies reviewed the current status and issues of domestic investment related to bio SoBuJang and discussed ways to cooperate in the global supply chain. The participating companies signed a 'Bio SoBuJang Global Research and Development (R&D) and Investment Activation Memorandum of Understanding (MOU)' and agreed to establish a global company division within the council to expand cooperation.

During the meeting, the government explained the 'Bio SoBuJang Technology Development Roadmap (draft)' aimed at gradually developing 60 core SoBuJang items. Companies such as Amicogen and Sempio announced plans to invest a total of 300 billion KRW over the next three years.

Jang Young-jin, the 1st Vice Minister of the Ministry of Trade, Industry and Energy, stated, "To solidify our country's position as a global bio production hub, establishing a stable supply chain is very important," and added, "We hope that cooperation such as international joint research on SoBuJang will be activated."

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