The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    BLACKPINK Jennie's 'Solo' music video hits record high 900 mil. YouTube views

  • 3

    Japanese students' field trips to Korea resume after pandemic hiatus

  • 5

    Lotte desperate to win LVMH Chairman Arnault's heart

  • 7

    INTERVIEW'The Flag': Kwon Jin-ah's love letter to people chasing their dreams

  • 9

    Revenge rises as key theme in K-dramas

  • 11

    Kwon Sang-woo's new series to stream on Disney+ this year

  • 13

    LVMH allegedly joins takeover bid to acquire Missha

  • 15

    Sexual assaults by Korean diplomats continue despite zero-tolerance policy

  • 17

    Busan to have alternate no-driving days during Expo inspection

  • 19

    World water day

  • 2

    Lee Se-young to lead MBC's new series 'The Story of Park's Marriage Contract'

  • 4

    Possibly next SOHO, Seoul selects 5 neighborhoods for new signature 'K-alleys'

  • 6

    Kakao criticized for half-baked AI chatbot

  • 8

    President Yoon refutes criticism of fence-mending summit with Japan

  • 10

    Apple Pay service starts in Korea

  • 12

    US report voices concerns over S. Korea's press freedom

  • 14

    Korean firms balk at donating to fund compensating victims of Japan's forced labor

  • 16

    Consumers choose to travel abroad over purchasing luxury goods

  • 18

    Shinhan, Woori shine in overseas business

  • 20

    Osstem Implant to invite 1,500 dentists from 22 countries for training

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Business
  • Tech
  • Bio
  • Companies
Thu, March 23, 2023 | 16:37
Retail & Food
Songdo set to attract global biopharmaceuticals
Posted : 2018-04-23 15:04
Updated : 2018-04-23 19:13
Park Jae-hyuk
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
Incheon Free Economic Zone (IFEZ) Commissioner Kim Jin-yong speaks at the Global Bio Hub Symposium held at the Songdo Convensia in Incheon, April 11. / Courtesy of the IFEZ Authority
Incheon Free Economic Zone (IFEZ) Commissioner Kim Jin-yong speaks at the Global Bio Hub Symposium held at the Songdo Convensia in Incheon, April 11. / Courtesy of the IFEZ Authority

By Park Jae-hyuk

The Incheon Free Economic Zone (IFEZ) Authority said Monday it recently held the Global Bio Hub Symposium at Songdo Convensia to sign agreements with academic and research institutions in the Songdo International Business District (IBD) for the successful development of the district's bio industry.

"The size of the global bio industry is expected to grow to $427.3 billion next year from $323.1 in 2014, showing a 5.7 percent annual growth rate on average. The global biopharmaceutical market alone reached $179 billion in in 2014, double the size of the memory semiconductor market at that time. The figures prove the strong growth potential of the bio industry," IFEZ Commissioner Kim Jin-yong said at the symposium earlier this month. "As IFEZ commissioner, I will try my best to make Songdo the world's best bio hub, surpassing global bio clusters in San Francisco, Singapore and Ireland."

To achieve that goal, Kim announced several plans for the use of 990,000 square meters of land in the district.

The plans include attracting R&D units of global healthcare firms, improving infrastructure for global competitiveness and developing advanced technologies for the Fourth Industrial Revolution.

He promised to set up a medical complex in the district as well, through the construction of Songdo Severance Hospital on the Yonsei University International Campus, the Science Park and Gachon University Gil Hospital's Brain Valley.

The commissioner also came up with plans to offer training for bio industry workers and vowed to sponsor startups specializing in biopharmaceuticals to create more jobs for young people.

The symposium was attended by officials from Yonsei University, Incheon National University, the Ghent University Global Campus, Celltrion, Samsung BioLogics, the Korea Biotechnology Industry Organization, Gachon University Gil Hospital and the Utah-Inha DDS & Advanced Therapeutics Research Center.

The eight institutions agreed to collaborate with the IFEZ to establish in Songdo the world's best bio hub.

Deputy Minister of Trade and Investment Kim Young-sam, who delivered a congratulatory speech at the symposium, promised the government's support for the bio hub.

"The IFEZ Authority and the trade ministry will cooperate with each other to make a bio cluster in Songdo, so original technologies and ideas of universities, institutions and innovative enterprises will result in the development of new medicines," the deputy minister said. "I have confidence the pharmaceutical industry will become a key growth engine of the national economy."

According to the IFEZ Authority, Merck will build a manufacturing facility for cell culture media on Songdo in July, following the construction of its biopharmaceutical support center in the district in 2016. GE Healthcare also has a biopharmaceutical support center there.

The IFEZ Authority attributed the global biopharmaceutical companies' interest in Songdo to the district's proximity to Incheon International Airport, high-quality universities and large-scale R&D facilities built by Celltrion, Samsung BioLogics and Samsung Bioepis.


Emailpjh@koreatimes.co.kr Article ListMore articles by this reporter
 
LG Group
Top 10 Stories
1Korean firms balk at donating to fund compensating victims of Japan's forced laborKorean firms balk at donating to fund compensating victims of Japan's forced labor
2Consumers choose to travel abroad over purchasing luxury goods Consumers choose to travel abroad over purchasing luxury goods
3Sexual assaults by Korean diplomats continue despite zero-tolerance policy Sexual assaults by Korean diplomats continue despite zero-tolerance policy
4World water day World water day
5Main opposition leader indicted, faces calls to resign Main opposition leader indicted, faces calls to resign
6Outback Steakhouse sees sales soar as it opens stores in large shopping malls Outback Steakhouse sees sales soar as it opens stores in large shopping malls
7Samsung, SK avoid worst-case scenario as US 'guardrails' are less stringent than feared Samsung, SK avoid worst-case scenario as US 'guardrails' are less stringent than feared
8Korean pension fund hit by overseas banking crisis Korean pension fund hit by overseas banking crisis
9Campaign launched to promote equal treatment for multicultural families Campaign launched to promote equal treatment for multicultural families
10[INTERVIEW] Retired FSC chief finds inspiration exploring Koreans' ancestral roots INTERVIEWRetired FSC chief finds inspiration exploring Koreans' ancestral roots
Top 5 Entertainment News
1Lee Se-young to lead MBC's new series 'The Story of Park's Marriage Contract' Lee Se-young to lead MBC's new series 'The Story of Park's Marriage Contract'
2[INTERVIEW] 'The Flag': Kwon Jin-ah's love letter to people chasing their dreams INTERVIEW'The Flag': Kwon Jin-ah's love letter to people chasing their dreams
3Revenge rises as key theme in K-dramas Revenge rises as key theme in K-dramas
4Kwon Sang-woo's new series to stream on Disney+ this year Kwon Sang-woo's new series to stream on Disney+ this year
5From sky to deserted islands, two artists' documentation of nature adds surreal touch to reality From sky to deserted islands, two artists' documentation of nature adds surreal touch to reality
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group