Songdo International City
Completed as a World-class Bio Cluster
In June this year, the Free Economic Zone Committee under the Ministry of Trade, Industry, and Energy (MOTIE) resolved the revision of the development plan to expand and relocate the industrial areas of Zone 11 of Songdo International City. The area for industrial and research facilities in Zone 11 of Songdo International City was expanded from 1,754,533㎡ to 1,828,750㎡. The IFEZ plans to rearrange these industrial facilities to be located near the existing Bio Cluster and Zones 4 and 5 of Songdo, with the aim to generate synergies.
Modified plan for rearrangement and site usage of the
industrial complex, Zone 11, Songdo International City
Zone 11 of Songdo International City to be
Developed as a World-class Bio Cluster
In step with the revised development plan for Zone 11, Songdo International City, the IFEZ has adjusted its plans to expand the Global Bio Cluster established in Zones 4 and 5 of Songdo International City to Zone 11. In the Zones 4 and 5 of Songdo International City, more than 50 bio companies, including Celltrion and Samsung BioLogics, are already in full business operation. Furthermore, research centers such as Brain Disease Center of Gil Hospital, education institutes such as Yonsei University and Incheon National university, and supporting organizations such as GE Healthcare have been located in the zone, creating synergies.
Celltrion, in particular, announced “Vision 2030” in May, with plans to invest in Songdo International City a total of KRW 25 trillion: KRW 16 trillion in R&D for new drugs, KRW 5 trillion in scale-up for the manufacturing facility, KRW 2 trillion in expanding its global distribution network, and KRW 2 trillion in support for startups.
The IFEZ has set up the goal of inducing 300 companies and creating 15,000 jobs by 2030 in order to enhance the bio cluster that will be expanded to Zone 11 of Songdo International City. The implementation strategy has also changed from the cluster focused on the manufacturing and leading companies to the manufacturing and innovation cluster with additional R&D companies, SMEs, and startups.
At the same time, there are plans to establish a bio innovation ecosystem through nurturing bio experts and bio venture supporting centers, expanding the sand box cases of regulations on the genome analysis service, establishing an industrial ecosystem where leading companies, SMEs, and startups harmoniously grow together. For this purpose, the city will additionally attract 90 SMEs and 150 ventures and startups that manufacture and supply materials for bio and medical industries.
Objective and Implementation Status of Songdo Bio Cluster
Implementation Plan for Bio Health Valley Project
Blueprint for a Global Bio City
The project to implement a “Bio Health Valley,” which is aimed to generate joint development of Songdo Bio Cluster and Namdong Industrial Complex, is now in full swing. The Incheon Metropolitan City is the driver of the Bio Health Valley project, which will realize the sustainable growth of the bio health industry in collaboration with the bio and medical companies in Songdo International City and manufacturers in the neighboring Namdong Industrial Complex, as well as universities and research institutes in the city. This Bio Health Valley project has five categories: establishing Songdo Bio Cluster, establishing Bio Convergence Technology Laboratory, establishing a specialized center for bio processes, installing a bio mutual cooperation center, and nurturing SMEs, venture companies, and startups.
In Zone 11 of Songdo International City, a 1,461,000㎡ industrial site will be additionally developed for domestic and overseas companies with cutting-edge bio technology to move in. When it is realized, the future medical field converged with genome data will be fostered as the specialized industry of Songdo International City. At the same time, the 178,282㎡ Bio Convergence Technology Laboratory will be made in Zone 11 to host 250 bio innovation companies, including SMEs, venture companies, and startups. A world-class specialized center for bio process that can foster more than 2,500 experts every year will also be established. Through these innovative development plans, the imbalance in demand and supply of human resources in the bio technology sector will be addressed and the spot will grow as a hub for bio technology specialists not only in Korea but in the whole Asian region.
Along with this, in the Bio Convergence Technology Laboratory in Zone 11 of Songdo International City where more than 250 SMEs and venture companies will move in, a center for mutual cooperation in the bio sector will be built to implement various mutual cooperation programs designed to enhance competitiveness of SMEs and venture companies by supporting technology development, business advancement, and penetration into overseas markets. Other supporting projects will be implemented, such as fundraising for SMEs, venture companies, and startups, installing an R&D supporting center to facilitate R&D, organizing the Incheon Bio Expo, and launching a consortium for the domestic production of bio material.