Coree Pohang, an Affiliate of Coree Group, Enters Pohang Convergence Technology Industrial Zone


Coree Pohang, an affiliate of Coree Group, will enter Pohang Convergence Technology Industrial Zone.

On the 14th, according to Daegu Gyeongbuk Free Economic Zone Authority, Coree Pohang signed an agreement to join Pohang Convergence Technology Industrial Zone.

Coree Group is planning to invest KRW 200 billion in a 51,846 square meter site in Pohang Convergence Technology Industrial Zone to build research and production facilities that serves pharmaceuticals and diagnostics.

Coree Group is a research and development company in the field of bio healthcare and an incubator of new enterprises, led by the president of Hanmi Pharmaceutical Col., Ltd., Lim Chong-yoon. It is headquartered in Hong Kong and operates international subsidiaries in Korea, China (Beijing), the USA, etc.

With this investment, Coree plans to build research and production facilities for pharmaceuticals and diagnostic medical devices, including vaccines and immunooncology drugs. The research and production facilities will serve as the basis for its global bio healthcare business and will form the KHUB Science Park.

The KHUB Science Park will be positioned as an international vaccine hub covering ‘education-research-clinical-production’. It aims to provide research and production facilities and to nurture medical professionals that are necessary to secure public goods such as raw materials for vaccines and diagnostic devices.

An official of Coree said, “As we took the first step towards forming the KHUB Science Park, we will put a lot of efforts to developing it into a forward base for the global healthcare business. Furthermore, we will do our best to become a model of public projects in cooperation with industry, academia, research and government.”

The Pohang Convergence Technology Industrial Zone is 1.47 million square meters and located in Buk-gu, Pohang. The industrial zone began construction back in 2018. The zone will be divided into a few districts of parts and materials, green energy and R&D. The construction is expected to be completed by the end of this year.

Currently, 20 companies have signed the occupancy agreement, and full-fledged installation works will be starting from the beginning of the next year.

Choi Sam-ryong, head of Dague Gyeongbuk Free Economic Zone, said, “With the investment by Coree Group, we expect that the Pohang Convergence Technology Industrial Zone will be positioning itself as a global base for the bio industry. We will support the entire process, entailing design, construction and registration, to ensure the successful business.”

Source: The Asia Business Daily