BUSAN < invest Korea

According to Yonhap News,

(BUSAN=Yonhap News) Medpark, a bio-healthcare company located in Busan, built a R&D center in Busan Venture Tower.

Medpark which acquired a patent for artificial bone tissue engineering, for the first time in Korea, announced that it will hold opening ceremony of its R&D center (483.75㎡) in Busan Venture Tower on January 11.

The facilities in the Center are designed to meet the requirements of Korean GMP (Good Manufacturing Practice), European CE, and production facilities standards of the U.S. FDA.

Equipped with facilities capable of mass-producing medical biomaterials, it can manufacture more than twenty kinds of biomaterials-based medical devices, including medical collagen and filler.

Medpark initially planned to build R&D center in another region where its affiliated research institute is located, but changed its second factory site to Busan where it's headquartered.

With the construction of this center, all production bases are to be in Busan. Thus, it is said to discuss relocation of its affiliate research institute to Busan as well.

Meanwhile, Medpark was selected as a finalist for 2018 Materials&Components Technology Development Program by the Ministry of Trade, Industry and Energy (MTIE) in December last year for development of wound dressing and medial appliances.

This program will be run jointly with Korea University and Hanyaung University, with KRW 3.8 billion government expenses.

Medpark was also selected for Technology Development linkage with Commerticalization program by the MTIE in April last year to develop multi-functional bone graft materials.

An official from the Busan City government said "Medpark R&D Center is expected to create up to twenty jobs and will help making it to stand as a leader in the biomedical healthcare industry of the region".

joseph@yna.co.kr

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Source Text

** This article was translated from Korean.

Source: Yonhap News (January 11, 2019)