Policy & Regulation
Incheon Metropolitan City government to develop Songdo Global Biotech Cluster in Incheon Free Economic Zone
11 December 2019 -

The Incheon Metropolitan City government is planning to develop the Songdo Global Biotech Cluster in the Incheon Free Economic Zone, it was reported yesterday.

The City authorities are expanding the industrial complex by adding the 11th Songdo industrial block with 990,000 square meters of space to the fourth, fifth and seventh Songdo industrial blocks with 910,000 square meters of space.

Park Nam-choon, mayor of Incheon City, said, '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. We are committed to contributing to the growth of bio-pharmaceutical industry in Korea by supplementing vulnerable chains in developing the Songdo Global Biotech Cluster through the creation of a more convenient environment for investing by global pharmaceutical companies and maximisation of research and development capabilities of Korean industry.'