DAEGU < invest Korea

According to Yonhap News,

(DAEGU=Yonhap News) Daegu-Gyeongbuk high-tech Medical Complex announced on May 29 that it approved 5 companies, including Natural C&F Co., Ltd., a biomedical R&D institution, to enter the complex. The approval was granted by a judging committee.

The new medicine development support center; the high-tech medical supplies development support center; the clinical testing center; and the experimental animal center are already established in the complex. A number of government research facilities, such as Korea Brain Research Institute, will enter the complex in the near future.

“Because of our sound research facilities and talented human resources, there is a long list of companies wishing to enter the complex, in order to vitalize their research and advance their business,” said an official representing the complex.

For companies that nestle in the complex, national tax is waived entirely for the first three years, then by 50% for two years afterwards. Local tax is waived entirely for the first ten years, then by 50% for three years afterwards.

On top of that, they are provided with necessary infrastructure and human resource, as well as joint research expenses for new drug & medical device development.

To be eligible to enter the complex, institutions must have been set up for the purpose of medical research & development, or have a department dedicated to medical research & development.

“Compared to previous years, we are receiving remarkably higher number of inquiries from institutions that wish to enter the complex to capitalize on its cutting-edge research infrastructure,” an official of Daegu-Gyeongbuk Medical Innovation Foundation said.

realism@yna.co.kr

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