Campus, Companies, and Residential Commercial Facilities to be Integrated – The location of Osong Third Bio-Science National Industrial Complex. (Provided by the Ministry of Land, Infrastructure, and Transport) – (Seoul=News1) Reporter Kim Dong-kyu: The Ministry of Land, Infrastructure, and Transport announced on the 27th that it has approved the industrial complex plan for the Osong Third Bio-Science National Industrial Complex and will begin full-scale implementation of the project.
The Osong Third Bio-Science National Industrial Complex was selected as a candidate for a national industrial complex in August 2018. Although there were difficulties in advancing the project due to location regulations like agricultural development areas, disagreements were reconciled through joint coordination meetings among the Ministry of Land, the Ministry of Agriculture, Food, and Rural Affairs, and Chungcheongbuk-do. Continued discussions between the government, project implementers, and local governments have helped solidify the industrial complex plan.
The Osong Third Bio-Science National Industrial Complex is a key hub leading the K-bio industry on a 4.12 million square meter site. It aims to establish a Korean version of Kendall Square, known as the world’s leading bio-cluster in Boston, USA.
The plan is to develop it into a bio-hub integrating residential and cultural functions centered around the Osong Biomedical Campus. From the start, there will be an integrated placement of a biomedical campus, bio companies, and residential and commercial facilities, establishing a bio-ecosystem equipped with a full-cycle innovation system from research and development (R&D) to commercialization.
Osong, already home to existing bio-industrial complexes like Osong Bio-Science Complex and Osong Biopolis, houses six national health and medical institutions including the Ministry of Food and Drug Safety, Korea Centers for Disease Control and Prevention, and the National Institute of Health, as well as numerous bio-companies and research institutes like the New Drug Development Support Center and Non-Clinical Support Center.
With the additional development of the Osong Third Bio-Science National Industrial Complex, Osong is expected to become the central hub of the domestic bio-industry and a key axis of globally competitive K-bio.
According to a model analysis by the Bank of Korea, the creation of the industrial complex is anticipated to have an economic production inducement effect of 1.7968 trillion won and employment inducement of 11,562 jobs. Consequently, follow-up procedures such as land compensation will be actively pursued, aiming for completion by 2030.
Kim Ji-yeon, Director of Land Policy at the Ministry, stated, “The designation of the Osong Third Bio-Science National Industrial Complex will be a pivotal turning point for systematically fostering an innovative ecosystem in the bio-industry that will ensure its development for the next 100 years.”