Osong, the center of Korea’s bio industry, is home to the Osong Life Science National Complex (completed in 2008), the second complex also known as the Osong Biopolis (completed in 2021), and the third complex, which is scheduled to begin construction. Adjacent to Sejong Special Self-Governing City and close to Cheongju International Airport and KTX Osong Station, they are located at the center of the country’s transportation system and enjoy a very strong geographical advantage.

Osong is the only bio cluster in Korea that has bio industry companies, universities and research centers as well as hospitals and related institutions. Osong can support the entire development cycle of new drugs and medical devices, including R&D, non-clinical and clinical trials, and licensing.

As of December 2024, a total of 188 companies are operating in the 1st and 2nd complexes. (1st complex has 73 companies and 2nd complex houses 115 companies). Major companies operating in the 1st complex include pharmaceutical and cosmetics leaders, such as Daewoong Pharmaceutical, LG Chem, and Shinpoong Pharmaceutical. The 2nd complex is bustling with IT, BT, high-tech companies, and research facilities, including Yuhan Corporation, Novarex, Pulmuone, and Neovision. Looking at the operation status, the complexes produced approximately KRW 3.3 billion in 2024 (KRW 3.1 trillion by the 1st complex and KRW 231.5 billion by the 2nd complex), and exported USD 752 million (USD 717 million by the 1st complex and USD 35 million by the 2nd complex). The complexes hire 5,814 employees (5,702 by the 1st complex and 1,112 by the 2nd complex), and the operating rate is 77%.

Osong continues to grow thanks to the soaring popularity of K-beauty. The annual Osong Cosmetics & Beauty Expo, which first started as the Osong Cosmetics & Beauty World Expo in 2013, has been hosted in the Osong Life Science Complex since 2015. Every year, the Expo, which involves B2B and B2C players, provides domestic and international business opportunities for Korean companies. Last year, 154 companies participated, and more than 700 buyers from 40 countries visited the Expo. The market pavilion reaped sales of KRW 1.58 billion, and the number of export contracts signed reached 1,260, amounting to KRW 85.2 billion.

Despite these achievements, the 1st complex is experiencing deterioration after being operated for twenty years and is suffering from problems such as insufficient infrastructure and traffic congestion caused by narrow roads. The good news is that the Osong Life Science Complex was selected last year in the government’s regeneration project aimed at renewing dilapidated industrial complexes. The plan is to invest a total of KRW 35 billion (KRW 17.5 billion each by central and local governments) by 2030 to significantly improve infrastructure. The plan includes road expansion, structural improvements, installation of street parking lots, and construction of parks. Cheongju City plans to establish a regeneration project district plan starting this year, and implement the plan in full scale after finalizing the plan and designating the regeneration district. These efforts are expected to make commutes easier for the employees and help improve the working environment.

The Osong Life Science Complex has boundless potentials to grow from the country’s bio hub to a world-class bio cluster, as the momentum is growing after the designation of the third complex and its selection as a complex specializing in materials, parts, and equipment industries (in July 2023).