DAEJEON < invest Korea

According to Yonhap News,

Daejeon-si, which failed the government public contest for 'Bio Lab Hub', a support organization for bio startups, has devised its own mid- to long-term plan to support the bio and health sector to foster related industries.

The city unveiled the '2030 Daejeon Bio-Health Innovation Growth Masterplan' on March 24, which includes plans to foster creation of infrastructure, support for start-ups, and to foster manpower for innovative growth of the bio-health sector.

Considering the bio sector as an essential growth-engine industry in the future, the city plans to establish the 'Daejeon Bio Startup Center (tentatively)', a base facility for start-up support to lay the groundwork for the growth of related industries.

As for the location, it will use the Hannam University Daedeok Valley Campus site (about 30,000㎡), which is close to the Bio Venture Town where existing bio companies of Daedeok Innopolis are gathered.

It is planned to be built with one basement floor and five above-ground floors, equipped with research labs, common equipment room, and about 40 rooms for occupants. The estimated project cost is KRW 29.5 billion.

After discussing the purchase of the land with Hannam University and embarking on design in July this year, the city expects the Center to begin operation in the first half of 2026.

The city expects the Center to help creation and attraction of about 300 companies, and expansion of 100 companies to overseas markets. By doing so, it is expected to create around 6,000 jobs.

youngs@yna.co.kr

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Source: Yonhap News (March 24, 2022)