JEOLLABUK-DO < invest Korea

According to Yonhap News,

Jeonbuk State is accelerating its efforts to attract bio-specialized complex with signing a series of investment agreements with bio companies.

On February 20, Jeonbuk State signed investment agreements worth KRW145 billion with two companies, JBK LAB and Enhanced Bio.

The state mentioned that it is the sixth bio-industry-related agreement and the largest since the launch of Jeonbuk State government.

JBK LAB is a bio-company that manufactures medicines and health foods based on natural products, while Enhanced Bio is a company engaged in development of messenger ribonucleic acid (mRNA) vaccines and treatments.

Along with bio companies promised to invest in Jeonbuk's bio industry to date, the two companies are expected to contribute to the scaling-up of related industries.

The Korea Institute of Machinery and Materials, the Jeonbuk Office of the Korea Institute of Industrial Technology, the Jeonbuk Office of the Korea Electronics Technology Institute, and Jeonju University have also commiteed to working with other companies to foster the bio industry.

Jeonbuk State plans to apply for a bio-specialized complex competition this month while establishing a cooperative system with companies, organizations, universities, and hospitals.

Jeonbuk State Governor said, "Jeonbuk is growing into a base for the bio industry," adding that "if we succeed in attracting a bio-specialized complex, we will actively foster it as Jeonbuk's future industry."

doo@yna.co.kr

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Source: Yonhap News (February 20, 2024)