The construction of the Osong 3rd Bio Science National Industrial Complex, which will lead "K-Bio", is being fully initiated.
The Ministry of Land, Infrastructure and Transport announced on the 27th that it has approved the industrial complex plan for the Osong 3rd Bio Science National Industrial Complex and will actively promote the project. Since being selected as a candidate site for the national industrial complex in 2018, the project has faced difficulties due to location regulations, such as agricultural promotion areas, and is now being fully initiated after seven years.
The Osong 3rd Bio Science National Industrial Complex will be developed as a core base to lead "K-Bio" on a site of 4.12 million square meters. It will become a bio hub where residential and cultural functions are integrated around the Osong Biomedical Campus. The government aims to establish this industrial complex as the "Korean version of Kendall Square". Kendall Square is the world's top bio cluster located in Boston, USA, where corporations like Pfizer and Moderna are based.
The government plans to create a bio ecosystem with an innovation system that spans from research and development to commercialization by placing biomedical campuses, bio corporations, residential, and commercial facilities together from the early stages of the industrial complex's development.
With the additional development of the Osong 3rd Bio Science National Industrial Complex, Osong is expected to solidify its position as a central base for the domestic bio industry and as a core axis of globally competitive "K-Bio".
Osong is already an area where existing bio industrial complexes, such as the Osong Bio Science Complex and Osong Bio-Polis, have been developed. It is home to six major national healthcare institutions, including the Ministry of Food and Drug Safety, the Korea Disease Control and Prevention Agency, and the National Institute of Health, as well as numerous research institutions like bio corporations and new drug development support centers.
The Osong 3rd Bio Science National Industrial Complex is projected to generate an economic impact of 1.7968 trillion won and create 11,562 jobs.
The Ministry of Land, Infrastructure and Transport plans to actively promote follow-up procedures such as land compensation starting this year, with a goal of completing construction by 2030.
Kim Ji-yeon, the Director of Land Policy at the Ministry of Land, Infrastructure and Transport, noted, "The designation of the Osong 3rd Bio Science National Industrial Complex will be an important turning point in creating an innovative ecosystem for the bio industry that will be responsible for Korea's future over the next 100 years, and in promoting systematic development." She added, "We will actively support this to nurture it as a core base of the K-Bio industry, going beyond mere clustering of industrial facilities, and to create an industrial complex where research activities and workers' lives harmonize."