According to Yonhap News,

On June 15, Seoul-si announced that it will participate in the world's largest bio industry exhibition, the '2025 BIO International Convention' (BIO USA), to be held in Boston, USA, from June 16 to 19 (local time).

The city aims to attract global bio companies and support promising bio startups to attract the overseas investment.

Since 2020, Seoul has participated in this event annually, achieving success in technology exports and investment attraction. Last year, the city secured technology export contracts worth USD 370 million (approximately KRW 503.1 billion).

This year, Invest Seoul, the city's investment promotion unit, will host the 'Seoul Bio Forum 2025' on the first day of the exhibition, June 16, at 4 p.m.

The event will be attended by over 100 people from global companies and institutions, including NVIDIA, Pfizer, AstraZeneca, OrbiMed, and Mayo Clinic. They will participate in the IR presentations and networking of 10 Seoul-based bio startups.

Previously, the city selected 10 companies with global technological competitiveness, including 5 companies based at the Seoul Bio Hub, as participants in BIO USA.

These companies will operate a joint booth at the BIO USA exhibition, conducting meetings and on-site IR activities with global venture capitalists (VCs) and investors during the event.

On June 17, the city will hold "Korea BioTech Partnership (KBTP) event", jointly with KoreaBIO, Korea Exchange (KRX), and KOTRA.

The city will promote foreign investment incentives, including an all-in-one package for foreign investors, cash grants, and employment subsidies for global companies.

Additionally, Seoul will focus on promoting bio industry infrastructure, including the Seoul Bio Hub in the Hongneung area and the Seoul Digital Bio City (S-DBC), which is set to be built in the Changdong Vehicle Base area by 2032.

Seoul Metropolitan Government Director-General of Economy Joo Yong-tae said, "Through this exhibition, we will actively promote Seoul's bio infrastructure and global expansion capabilities, creating a bridge for the global technological collaboration and investment attraction of promising companies."


bryoon@yna.co.kr

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Source: Yonhap News (June 15, 2024)

** This article was translated from Korean.