Celltrion said Wednesday that it has signed an agreement with Incheon Metropolitan City to create a global bio innovation cluster based in Songdo District.
Celltrion and Incheon plan to draw Korean and foreign bio and healthcare companies and research institutes in the cluster. They aim to localize raw and subsidiary materials to help develop the domestic global bio-healthcare ecosystem.
|Celltrion CEO Seo Jung-jin (left) and Incheon Metropolitan City Mayor Park Nam-chun signed the agreement to build a bio-cluster in Songdo District at the Incheon Free Economic Zone Office on Wednesday. (Celltrion)|
The two sides will also cooperate to speed up the construction of Celltrion’s third plant in Songdo.
To localize raw and subsidiary materials, they will establish a separate agency for promoting startups while actively introducing funds to create and develop a bio innovation ecosystem.
Celltrion and Incheon plan to build a cooperation system to run a center specializing in the training of human resources in the bio industry.
"We will continue to work with Incheon Metropolitan City to promote bio cluster in Songdo and participate in developing domestic bio-industry and related industries,” Celltrion CEO Seo Jung-jin said. “We will help the nation's bio ecosystem achieve growth into a global cluster."
The agreement is a follow-up to realize the Celltrion group's Vision 2030. In May 2019, Seo announced Celltrion's mid- to long-term business growth plan to create 110,000 jobs by investing 40 trillion won ($33.64 billion) until 2030.
The investment included 25 trillion won in bio-medicines, 5 trillion won in chemical drugs, and 10 trillion won in u-healthcare, the company said.
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