The largest in the country… fostering three strategic fields (veterinary medicine, insects, natural products) across 756ha, Location map of the Green Bio Industry Development Zone provided by Gyeongbuk Province,
Gyeongbuk Province announced on December 2 that it has been finally selected for the ‘Green Bio Industry Development Zone’ contest promoted by the Ministry of Agriculture, Food and Rural Affairs, accelerating agricultural innovation.
The bio industry is broadly divided into red (medicine), green (agriculture/food), and white (energy/materials), with green bio applying biotechnology to agricultural biological resources, creating added value across the full spectrum of agriculture-related industries.
To address this on a national level, the Ministry of Agriculture, Food and Rural Affairs conducted a nationwide public contest for designating green bio industry development zones in June, and finalized 7 regions, including Gyeongbuk.
The ‘Green Bio Industry Innovation Convergence Zone’ in Gyeongbuk Province will specialize in three of the six green bio fields (food, natural products, microorganisms, insects, seeds, veterinary medicine), specifically focusing on veterinary medicine, insects, and natural products.
This zone spans 756 hectares, the largest in the country, and includes 5 cities and counties: Pohang, Andong, Sangju, Uiseong, and Yecheon, along with 11 institutions and industrial complexes including the Pohang Advanced Research and Development Special Zone.
Once designated as a development zone, companies receive the qualification to participate in national projects in the green bio sector and a preferential right to establish within the zone according to the relevant law (Green Bio Industry Promotion Act). Local governments can engage in private use and leasing contracts for facilities and land within the zone.
A Gyeongbuk Province official stated, “Projects like plant factory-type green biologics, AI biofoundry veterinary medicine development, a green bio convergence creation center, and an all-life-cycle standardization hub for natural products will gain momentum. The discretionary lease contract provision is expected to be effective in focusing on and selecting regional companies, especially given that most major facilities are owned by the local government.”
Currently, 33 companies have taken residence in the development zone, with 90 companies having submitted letters of intent for residence or investment.
The province has set a vision of transforming into a global hub through ‘Completion of the Gyeongbuk-type Value Chain’ with these companies, aiming to establish a full life-cycle value chain focused on the three main sectors and cultivate three unicorn companies to achieve export goals of 1 trillion KRW.
To this end, a total of 472.5 billion KRW from the government and local resources is planned to be invested in supporting the full industrial cycle of companies within the development zone and infrastructure construction by 2031. Of this, 170 billion KRW is already underway as ongoing projects, while the remainder will be gradually advanced by securing national funds and linking with regional revitalization funds and the Ministry of Agriculture, Food and Rural Affairs Green Bio Exclusive Fund.
Anchor institutions will be designated by specialized field, with the uniquely designated veterinary medicine field driven by the Pohang Green Vaccine Demonstration Support Center, focusing on the development of the upstream and downstream industries of veterinary medicine.
The insect sector will focus on the standardization of insect materials and the development of high-value-added products based on the Insect Sericulture Industry Base Complex, while the natural products sector will aim for the development and industrialization of functional ingredients for food, cosmetics, and medicines spearheaded by the Gyeongbuk Bio Industry Research Institute.
The province expects the Green Bio Industry Development Zone to produce more than 20 startups annually, achieve more than a 30% acceleration in commercialization through integrated resource management, create over 2000 jobs through infrastructure and R&D investment, and stimulate over 1 trillion KRW in production.
Additionally, by expanding the discovery of material sources and contract cultivation, it foresees an increase in farm income and new income models, contributing to the expansion of the agriculture-related industries.
Lee Cheol-woo, the Governor of Gyeongbuk Province, stated, “The Green Bio Industry Development Zone is a new symbiotic development model between agriculture and businesses. It is not just about the high value-added of agricultural products but a transformation into a new industry for future agriculture, demonstrating agriculture’s potential. We will do our best to make the Gyeongbuk Green Bio Industry a leading model for Korea’s green bio industry.”