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According to Yonhap News,
Busan-si is determined to intensively foster the bio-health industry as a future growth engine.
Busan-si held an emergency economic meeting on October 20, presided over by the city's mayor, and decided to invest KRW 2.463 trillion in three strategies and 14 tasks to foster the bio-health industry.
The meeting was participated by a large number of experts from related companies, academia, and hospitals.
The public and private sectors will take the lead in establishing five specialized bases for each region in the western and eastern regions.
The smart healthcare cluster in Eco Delta City will be turned into a key base to nurture the bio-health industry, and a new drug development special zone will be created at the Myongji R&D Center.
A biotech startup complex will be built in the Geumgok Urban High-tech Industrial Complex.
A digital therapeutic and electronic drug development valley will be created in the Centum urban high-tech industrial complex, while the Southerneast Area Radiological & Medical Sciences Industrial Complex in Gijang will be developed as a high-tech cancer treatment hub.
Busan-si plans to revitalize venture and professor start-ups led by excellent human resources, doctors, and professors, and set up a dedicated fund worth KRW 50 billion.
It will build a step-by-step support system from R&D to clinical research and commercialization, including support for labor costs to attract and maintain excellent manpower.
The initiative is to push for overseas marketing of medical tourism by attracting the National Dental Research Institute to the Centum Urban High-tech Industrial Complex and fostering Gijang-gun as a specialized medical zone.
In addition, it announced that it will attempt to attract an accredited testing and certification institution, hold an international bio-health exhibition in 2025, and establish the Busan Bio-Economy Promotion Agency in the long term.
youngkyu@yna.co.kr
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Source: Yonhap News (October 20, 2021)
** This article was translated from Korean.