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Daejeon Bio industry Global Innovation Growth 2030 Strategy

According to Yonhap News,

Daejeon city and Korea Research Institute of BioScience & Biotechnology unveiled its plan on Nov 4 to start ‘Daejeon Bio industry Global Innovation Growth 2030 Strategy’ which rolls out guidelines for the regional development in bio industry.

The city aims to evolve itself into the next growth engine by providing intensive support for the local bio-businesses to help them part of major industries in Korea.

At the initial stage, the city government begins to evaluate the current level of business capability in the industry. Then, they set a mid- long term plan while making an analysis on how could Boston city, known as the world’s largest bio-cluster, get to the success and what needs to be benchmarked. Daeduck Analytical Research Institute (DARI), one of the largest bio-clusters in Korea, is a home to over 300 bio-businesses. The number of companies listed on KOSDAQ is reported to be 20.

The entire VC investment into the bio sector turned out to be over KRW 200 billion as of last year, 29% of the total volume nationwide. That translates as a growing number of investors keeping a close eye on the city.

Source Text

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Source: Yonhap News (Nov 4, 2019)

*This article was translated form Korean.