Five Bio-Specialized Complexes Designated... Private Investment Expected to Reach 36.3 Trillion Won by 2040

by Kang Heejong

Published 27 Jun.2024 16:41(KST)

Five locations?Incheon-Gyeonggi (Siheung), Daejeon (Yuseong), Gangwon (Chuncheon·Hongcheon), Jeonnam (Hwasun), and Gyeongbuk (Andong·Pohang)?have been newly designated as national advanced strategic industry specialized complexes in the bio sector. It is expected that private companies in these areas will invest approximately 36 trillion KRW by 2040.

On the 27th, the government announced that the 6th National Advanced Strategic Industry Committee, chaired by Prime Minister Han Duck-soo, was held in writing and approved the designation of specialized complexes in the bio sector.

The government explained that during the announcement period, applications were received from a total of 11 regions. Considering factors such as the investment scale of leading companies, the potential for industrial ecosystem development, and regional balanced development, five locations?Incheon-Gyeonggi (Siheung), Daejeon (Yuseong), Gangwon (Chuncheon·Hongcheon), Jeonnam (Hwasun), and Gyeongbuk (Andong·Pohang)?were designated as national advanced strategic industry specialized complexes in bio.

The Incheon-Gyeonggi (Siheung) area, where Samsung Biologics is already located, will be developed as a global hub with the vision of becoming the "world's number one bio mega cluster," aiming to establish the world's largest production base and technological superiority. The current production capacity, which is the world's largest for a single city at 1,165,000 liters of biopharmaceutical manufacturing, will be nearly doubled to 2,145,000 liters by 2032.

Daejeon (Yuseong) will be developed with the goal of becoming an "innovation new drug R&D open innovation hub." Based on an excellent R&D foundation formed by clusters of national and private research facilities and leading companies with technological capabilities, the goal is to create technological innovation and new drug pipelines, including the development of two blockbuster new drugs by 2032.

Gangwon (Chuncheon·Hongcheon) will be developed as an "AI-based new drug development and small-to-medium contract development and manufacturing organization (CDMO) hub." The plan is to promote the development of the bio industry through bio infrastructure such as the AI healthcare global innovation special zone, antibody industry, digital healthcare, and linkage and expansion with surrounding areas.

Jeonnam (Hwasun) aims to build a stable vaccine production and immune therapy industry innovation ecosystem through the creation of an "R&D-(non)clinical-vaccine manufacturing ecosystem," based on the existing concentrated infrastructure such as the Hwasun vaccine industry special zone.

Gyeongbuk (Andong·Pohang) will pursue "securing global competitiveness in bio and vaccines" based on infrastructure such as the Andong bio-life national advanced industrial complex and the technological development capabilities of Pohang University of Science and Technology (POSTECH).