[Chungcheong Ilbo] December 11, 2018
The Bio-industry Investment Promotion Team (PNP), directly under the Chungcheongbuk-do Bio-industry Bureau, signed investment agreements with 22 companies and attracted KRW 240.2 billion in investment in just six months since its launch.
This represents 85% of the provincial Bio-industry Bureau’s total investment attraction performance for the year.
According to North Chungcheong Province on the 11th, the PNP was established on June 4th to attract outstanding domestic bio companies, accelerate the establishment of Osong Bio Valley’s R&D capabilities, and serve as a foundation for the domestic and provincial bio-industry engine.
Since then, the PNP has initiated investment attraction activities in Osong Bio Valley and has conducted comprehensive attraction and promotional activities for approximately 50 bio-related companies and public institutions.
Furthermore, the PNP has also worked to revitalize the province’s bio-industry by improving various systems and developing policies.
A prime example is the recognition that the Osong Advanced Medical Complex was excluded from the youth transportation subsidy program for small and medium-sized enterprises in industrial complexes. They persuaded relevant ministries and agencies to extend the benefits to 88 companies and approximately 200 employees.
The attraction team also took the lead in improving the working environment and living conditions for workers in the Osong complex, including securing land for the “SME Joint Workplace Daycare Center” managed by the Korea Workers’ Compensation and Welfare Service.
In particular, they focused on attracting promising biotech companies and institutions.
With the global aging population, leading pharmaceutical companies are investing astronomical sums, yet tangible results remain elusive. The attraction of G2G Bio, which is developing an improved dementia treatment, to Osong is considered a model case.
Miracell, which researches stem cell therapy, a cutting-edge biopharmaceutical, is expected to create approximately 120 employees and is expected to contribute to establishing Osong as a forward base for the development of cutting-edge biopharmaceuticals.
Osong-based Osbio is a foreign-invested company established with overseas investment (from Japan).
The company is expected to create high added value in the agricultural industry through research on natural products produced in agricultural production research complexes and smart farms (farms operated using information and communication technology). It is also expected to contribute to the development of the province’s agricultural and biotechnology industries by expanding into overseas markets.
The attraction team plans to continue its active recruitment efforts next year, identifying biotechnology companies suitable for North Chungcheong Province and conducting on-site consultations, with the goal of attracting 3 trillion won during the 7th elected government.
Kwon Seok-gyu, Director of the Provincial Biotechnology Industry Bureau, acknowledged, “The achievements in attracting investment from biotechnology companies and institutions in just six months since the formation of the attraction team are the fruit of the team’s tireless efforts.” He expressed his commitment, saying, “We will expand the biotechnology industry to all cities and counties in the province and further solidify North Chungcheong Province’s status as a biotechnology hub that will lead the biotechnology economy.”
Reporter Kim Hong-min | hmkim2075@daum.net