Osong: The government announced the approval of the Osong 3rd Bio-Health Science Complex, designating it as a national industrial complex in North Chungcheong province.
According to Lao News Agency, the Ministry of Land, Infrastructure and Transport reported that the 4.12 million-square-meter site in Osong, located 108 kilometers south of Seoul, is set to become a central hub for Korea's bio sector. The development aims to emulate Kendall Square, a renowned biotech cluster in Boston, USA.
The proposed complex will be centered around the existing Osong Biomedical Campus, integrating residential and cultural facilities. Osong already accommodates the Osong Bio-Health Science Complex, Osong Bio-Polis, and significant national health and medical agencies such as the Ministry of Food and Drug Safety and the Korea Disease Control and Prevention Agency.
The Bank of Korea projects that the new complex will contribute 1.8 trillion won (US$1.29 billion) in production value and create 11,562 jobs. The government plans to complete the complex by 2030, beginning with land compensation procedures this year.
Kim Ji-yeon, director general for land policy at the ministry, stated, "This project will mark a major turning point in fostering an innovative ecosystem for Korea's bio industry, which will be a driving force for the next 100 years."