May 1, 2007: The government in Korea is taking active steps towards creating conducive environment for pharma and biotech companies to set up shop there.
The country has nearly 25 biotechnology centers that serve as incubators for biotech companies. These centers are grouped into four regional clusters to form a regional innovation system. Currently, a majority of companies are located in the capital area cluster but the government is making concerted efforts to attract companies to the other three clusters, Daejeon, Jeonlla and Kangwon.
The country offers specialized biotech parks that boast of an array of services including best move-in conditions, a host of fiscal incentives and excellent support infrastructure to nurture research and development activities.
Osong Bio-Technolpolis and the GyeongGi Bio-Center are slated to be Korea’s two biggest biotech parks that can showcase the best of local industry and attract some global players in the biotech and pharma sectors.
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Research Offerings
- Assist in cooperative research between industry, academia and research institutes.
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Guarantee of small and medium-sized venture companies’ technologies for doing cooperative research.
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Venture fund to assist small companies.
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Assistance for in/out licensing of technologies.
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GyeongGi Bio-Center
Scheduled to be ready by December 2007, Gyeonggi Bio-Center will specialize in activities related to evaluation of medications and their efficacies, and development of cell therapy products and bioscience-based new materials. It plans to be the one stop service for neo-pharmaceutical industry of drug discovery by supporting and promoting R&D capabilities, technology transfer and network of formation on the basis of regional bio industry association.
The 15-storey facility, built with a total cost of $90 million will house joint research/support teams participated in by Ajou, Kyunghee and Sungkyunkwan Universities and businesses. Upon completion, the facility will be the center point of Gyeonggi province supporting and promoting R&D capabilities for the Korean bio industry.
Among the other big industrial parks located in the vicinity is Songdo Technopark that was established to support the industries in Incheon.
This Bio-Center helps Korean companies in global marketing as they have excellent international networks in countries such as China and Japan. Upon completion, the GyeongGi Bio-Center aims to be the center of the biocluster of GyeongGi province and lead the industrial biotech revolution in the country.
The park will have two subsidiary facilities in GyeongGi Pharmaceutical Research Center and the support of two nearby universities: Korea Cell Therapeutics Commercialization Center of Ajou University Medical Center and the New Biological Substances Development Center of Kyunghee University.
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Bouquet of incentives
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Corporate income tax holidays up to seven years.
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Exemption from local taxes levied on acquisition and registration.
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Exemption from customs duties and VAT.
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Establishment of an FIZ (foreign investment zone).
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Land and cash grant upto 15 percent for factory construction and R&D equipment purchase.
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Osong Bio-Technopolis
Osong Bio-technopolis is located at the heart of Chung Cheong province in Gangoe-Myun. Spread over an area of 4.6 million sq mt, this ambitious project is due for completion in 2010.
In close proximity of Daedeok Valley and Korea Advanced Institute of Science and Technology (KAIST), and universities such as Chungbuk National University, and Chungnam National University, the technopolis offers ready access to scientific talent.
Promoted by Korea’s Ministry of Health and Welfare, Osong Bio-Technopolis aims to create maximum synergy by bridging the basic research, clinical application, production and marketing in cooperation with R&D, industries, academia and government organizations.
Korea’s federal and provincial governments are working together to make this park a big success. The Osong city government has started work on an eco-friendly city near the bio-park, in a 26.4 sq km area, to house 1,00,000 people and provide services combined with production, research, commercial, administration and residential sites.
Park officials said many biotech graduate universities and biomedical research centers will move in to the technopolis. The technopolis will also have two high- tech neighbors in Ochang Science Industrial Complex (15 km away) and Daeduk Science Park (42 km away).
Korea’s bio-industry backbone
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Bio Venture Center (9)
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PBiotechnology Innovation Center, Chuncheon
PBio Venture Center, Daejeon
PCenter for Biotechnology and Bioventure, Jeonbuk
PBio21 Center, Kyungnam
PBiotechnology Industrialization Center, Dongshin University
PBiotechnology Innovation Center, Youngdong
University
PTechnology Innovation Center, Sangju National
University
PBioindustry Development Center, Jeju
PMarine Biotechnology Center for Functional Material Industry, Busan
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New Region Promotion Business (15)
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PBio Venture Town, Daejeon
PBio Venture Plaza, Chuncheon
PInstitute for Marine Bioindustry, Gangneung
PBiotechnology Center for Bioindustry, Jeonnam
PBiotechnology Research Center, Jeonnam
PBiohealth Industry Support Center, Kyungbuk
PBioscience Park, Jeju
PTraditional Pharmaceutical R&D Center, Chungbuk
PAnimal Resources Support Center, Chungnam
PHealthcare Industry Center, Chungbuk
PMarinebio Environmental Industry Center, Kyungbuk
PBiomaterial Industrialization Center, Daegu
PHerb Medicine Support Center, Daegu
PBioVenture Plaza, Kyungnam
PBio-Industry Support Center, Busan
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Future Forward
During 1995-99, Korea ranked 20th in biotech global competitiveness, but moved up to 14th slot in 2000-04, demonstrating that the country has made rapid progress in that area. With the upcoming specialized biotech facilities and the rapid progress of the local industry, Korea is optimistic that it will be one of the world’s top seven biotech powerhouses.
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