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Chong Kun Dang |
[Alpha Biz= Kim Jisun] On June 10, Siheung City announced that it has signed a Memorandum of Understanding (MOU) with Chong Kun Dang Pharmaceutical Corporation at the company’s Seoul headquarters to establish a cutting-edge biopharmaceutical complex research and development cluster.
Chong Kun Dang was selected as the preferred negotiation partner in February for the Research 3-1 site in Baegot District of the Gyeonggi Free Economic Zone. Following approximately four months of negotiations, the agreement was finalized.
The total investment is estimated at approximately 2.2 trillion KRW, marking the largest single investment by a bio company within Gyeonggi Province. Based on this agreement, Chong Kun Dang plans to develop an advanced biopharmaceutical complex research and development cluster spanning 79,791 square meters (about 24,000 pyeong) on the Research 3-1 site in Baegot District.
This state-of-the-art cluster will comprise biopharmaceutical research facilities, research support centers, and R&D demonstration facilities, spearheading new drug development and gene therapy research.
The project is expected to accelerate the establishment of an R&D-centered bio cluster led by Chong Kun Dang.
Notably, the agreement includes commitments such as prioritizing local residents for over 10% of employment and establishing links with universities for job placement, which is anticipated to significantly contribute to job creation and revitalization of Siheung’s regional economy.
Siheung City is committed to actively supporting the stable execution of Chong Kun Dang’s investment and the construction of the research cluster.
Furthermore, the city plans to create a business-friendly investment environment by developing sites such as Jeongwang and Wolgot Station areas and expanding infrastructure, intensifying efforts to attract more companies.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
