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Chungbuk-do to speed up the establishment of specialized complex for bio-pharmaceutical materials, parts, and equipment
On January 30, Chungbuk-do announced that it will invest KRW 22.4 billion this year to push for the second-year project for fostering a specialized bio-pharmaceutical materials, parts, and equipment complex.
Earlier, in July 2023, the province was selected by the Ministry of Trade, Industry, and Energy (MOTEIE) to establish a specialized materials, parts, and equipment complex in the Cheongju Osong Bio-Science Complex, Bio-Industry Complex, and Cosmetics Industry Complex. Since then, it has built a collaborative system involving three anchor companies (LG Chem, Daewoong Pharmaceutical, and GC Green Cross) and over 60 partners from industry, academia, research, and hospitals.
The project to foster specialized has been underway from last year through 2028 in four areas: R&D, infrastructure, workforce development, and regulatory improvements.
In the R&D sector, the "Bio-Pharmaceutical materials, parts, and equipment commercialization technology development project" will support demand companies by involving them from the initial stages of R&D, enabling them to participate in performance uation and verification, and ensuring that the process leads to eventual purchasing.
The total project budget is KRW 26 billion, with a focus on R&D development this year.
Next year, the focus will shift to prototype production, followed by 4th to 5th-year performance uation and verification by demand companies, with commercialization targeted after 2029.
In the infrastructure sector, the "Bio-Pharmaceutical materials, parts, and equipment testbed construction project" will be pursued with an investment of KRW 43.2 billion.
In the workforce development sector, the Osong Medical Innovation Foundation will lead the efforts in fostering its employees into 540 specialists, with a target of training 120 employees this year.
In the regulatory improvement sector, a regulatory science support team will be formed at the Osong Medical Innovation Foundation to provide licensing consulting for the development process of pharmaceutical and parts, materials, and equipment.
An official from Chungbuk-do said, "We will spare no effort to ensure the early establishment of the Bio-Pharmaceutical materials, parts, and equipment specialized complex."
jeonch@yna.co.kr
Source Text
** This article was translated from Korean.
Date
2025.02.04
Views
65
According to Yonhap News,
On January 30, Chungbuk-do announced that it will invest KRW 22.4 billion this year to push for the second-year project for fostering a specialized bio-pharmaceutical materials, parts, and equipment complex.
Earlier, in July 2023, the province was selected by the Ministry of Trade, Industry, and Energy (MOTEIE) to establish a specialized materials, parts, and equipment complex in the Cheongju Osong Bio-Science Complex, Bio-Industry Complex, and Cosmetics Industry Complex. Since then, it has built a collaborative system involving three anchor companies (LG Chem, Daewoong Pharmaceutical, and GC Green Cross) and over 60 partners from industry, academia, research, and hospitals.
The project to foster specialized has been underway from last year through 2028 in four areas: R&D, infrastructure, workforce development, and regulatory improvements.
In the R&D sector, the "Bio-Pharmaceutical materials, parts, and equipment commercialization technology development project" will support demand companies by involving them from the initial stages of R&D, enabling them to participate in performance uation and verification, and ensuring that the process leads to eventual purchasing.
The total project budget is KRW 26 billion, with a focus on R&D development this year.
Next year, the focus will shift to prototype production, followed by 4th to 5th-year performance uation and verification by demand companies, with commercialization targeted after 2029.
In the infrastructure sector, the "Bio-Pharmaceutical materials, parts, and equipment testbed construction project" will be pursued with an investment of KRW 43.2 billion.
In the workforce development sector, the Osong Medical Innovation Foundation will lead the efforts in fostering its employees into 540 specialists, with a target of training 120 employees this year.
In the regulatory improvement sector, a regulatory science support team will be formed at the Osong Medical Innovation Foundation to provide licensing consulting for the development process of pharmaceutical and parts, materials, and equipment.
An official from Chungbuk-do said, "We will spare no effort to ensure the early establishment of the Bio-Pharmaceutical materials, parts, and equipment specialized complex."
jeonch@yna.co.kr
Source Text
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Source: Yonhap News (January 30, 2025)
** This article was translated from Korean.