KUALA LUMPUR, Dec 10 -- South Korea’s Incheon Metropolitan City government will develop the Songdo Global Biotech Cluster in the Incheon Free Economic Zone, attracting global advanced biotechnology companies and research institutions.
The City authorities will expand the industrial complex by adding the 11th Songdo industrial block with space of 990,000 square metres to the 4th, 5th and 7th Songdo industrial blocks with space of 910,000 square metres.
Based on a statement, they will develop Songdo region as the world-level global biotech hub by connecting the industrial complex with projected nearby Songdo Severance Hospital and a science park.
The City government has been concentrating efforts on expanding investors’ base. Last year, it conducted investor relations activities in Switzerland to look into technology and business trends of the biotech industry in the country.
Targeting to analyse major tasks for expanding the Songdo Biotech Cluster and work out a feasible master plan by year-end, the City government is currently conducting contracted research.
The research includes ways of exploring demand for new investors, attracting major facilities and fostering Korean biotech companies in the cluster.
According to Incheon City mayor, Park Nam-choon, the Songdo complex achieved remarkable growth in the global bio-pharmaceutical market, and inducement of more investment by advanced global pharmaceutical companies and establishment of partnerships with them are essential for building a world-level biotech cluster.
-- BERNAMA
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