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Gangwon to Foster Wonju As Hub for Medical Device Industry

According to Yonhap News,

(CHUNCHEON = Yonhap News) Gangwon-do kicks off its plan to designate Wonju-si as a 3,790,000m2 national medical industrial complex.

The officials of the province including Choi Moon-soon, Governor of Gangwon-do, held a seminar at Wonju Medical Industry Techno Valley on February 17 and made public its plan to designate its city a national medical industrial complex.

The complex will be constructed on 3,795,000m2 site near Buron-myeon and Heungho-ri.

The province will invest a total of KRW 700 billion to construct research and development (R&D) facilities and support facilities for medical device companies, and attract companies of the biomedical device industry.

It plans to connect the designation with the government’s regional strategic industry development projects.

The medical industry of Wonju-si was considered the main subject for support last year when the Ministry of Land, Infrastructure and Transport reported to the president.

Wonju-si is regarded as one of the most successful medical clusters developed in Korea. It produces about 14.9 percent of the nation’s medical devices and accounts for 21.3 percent of its medical device export.

The medical complex is expected to boost the city’s medical device production to 30 percent and increase share of the national medical device export to 40 percent, according to the province.

The province’s plan shows its will to gain a powerful driving force for the development of the medical device industry by receiving support from the government.

“While a total of 40 national industrial complexes have been constructed in Korea, Gangwon-do had only one small-size Bukpyeong National Industrial Complex,” said an official of the province. “It is time for the province to get government support to develop a world-class medical device industry in Wonju-si.”

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Source Text

Source: Yonhap News (Feb. 17, 2014)

** This article was translated from the Korean.