Daegu-Gyeongbuk Free Economic Zone Authority

Vol.23_ Newsletter - Coree Pohang confirmed to invest KRW 200 billion to Pohang

2022-12-22 15:58:09

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Coree Pohang confirmed to invest KRW 200 billion to Pohang Fusion Tech District

Daegu Gyeongbuk Free Economic Zone has concluded a contract to move into Pohang Fusion Tech District with Coree Pohang, an affiliate of Coree Group in November 14.

Coree Group plans to build research and production facilities related to pharmaceuticals and diagnosis by investing a total of KRW200 billion (including $66 million in FDI) in site of 51,846㎡ (15,600 pyeong) within Pohang Fusion Tech District.

As a company specialized in bio-healthcare R&D and new business incubation led by Im Jongyoon, a president of Hanmi Pharm, Coree Group has its headquarters in Hongkong and is operating local corporates in Korea, Beijing and the United States.
The group plans to build research and production facilities related to pharmaceuticals and diagnosis such as vaccines and immuno-oncology to utilize them as an advanced base of global bio-healthcare business and realize KHUB Science Park.

KHUB Science Park is a hub for international standard vaccine that can implement entire functions of vaccine business from education, research, clinical trials to production, aiming to train manpower required to secure public goods such as vaccine and diagnostic raw materials and provide research and production facilities. In particular, it plans to build automated production facility in the form of modular that allows development of animal and plant cell culture protein vaccines in addition to gene vaccines and production of small-scale but multibreed production to establish global-level vaccine infrastructure in Pohang Fusion Tech District.

Pohang Fusion Tech District which Coree Group decided to invest in started construction of the district in 2018 with the scale of 1.47 million square meters (450,000 pyeong) in the areas of Daeryeon-ri and Iin-ri, Heunghae-eup, Buk-gu, Pohang-si and it is being built as a district specialized for bio, parts, green energy and R&D which are core strategic industries. This will be completed by the end of this year.
Cell membrane protein research center, green vaccine demonstration support center and knowledge industry center are being operated in the district and infrastructures for bio-industry is intensively built as the construction of green bio venture campus has determined. Currently, 20 companies in the field of core strategic industry have already concluded a contract for entering, and facility construction of those companies will be started from the early of next year.