South Korean President inspects biotech cluster in Songdo

Seoul, Nov 18 : South Korean President Moon Jae-in visited a hub of South Korea’s biotech sector in Songdo, Incheon, on Wednesday, which Cheong Wa Dae said reflects the government’s resolve to develop the industry as South Korea’s next growth engine.
He reaffirmed government’s full support for relevant firms and institutes during a ceremony to unveil a vision for transforming Songdo into a global research and production cluster, Yonhap news agency reported.
“Overcoming COVID-19, Songdo has become the center of the Republic of Korea emerging as a bio-industry powerhouse. The expectations that our people have for Songdo have also further increased,” Moon said, attending the event held at Yonsei University’s international campus in the town, west of Seoul. He used the nation’s official name.
In the midst of the pandemic, the biotech industry is turning the crisis into an opportunity, while protecting the life and health of humankind, the president said.
“The Republic of Korea will become a bio-industry power, beyond a production base of biopharmaceuticals,” he added.
Some 40 bio and health care companies plan to pour more than 10 trillion won (US $9 billion) into new investments by 2023 and create 9,000 jobs, he noted.