Daegu-Gyeongbuk Free Economic Zone Authority executed a memorandum of understanding with Korea Pharmaceutical and Bio-Pharma Manufacturers Association, Pohang City Hall and Postech on the 22nd of September at the office of Pohang City Hall for fostering the pharmaceutical bio companies.
 
The execution of the agreement served as the opportunity to bring about the joint efforts for development of the bio industry such as by improvement of the infrastructure for pharmaceutical and bio researches and others.
 
By way of the agreement, the 4 institutions agreed to cooperate with each other for ▲ the project for establishment of the innovation ecosystem for joint growth among the pharmaceutical and bio companies, universities and research institutions, ▲ the project for cultivation of excellent talents and for planning, introduction and operation of related programs, and ▲ the reinforcement of the cooperation for invitation of the promising companies and development of technology and others.
 
By this MOU, the synergy effect is anticipated for growth of the bio industries in the field for development of new medicines based on the structure for utilization of the cutting-edge R&D infrastructure and research human resources at Pohang.
 
Sam-Ryong Choi, the Commissioner of Daegu-Gyeongbuk Free Economic Zone Authority, said for explanation, “We will strive to establish the innovation ecosystem for joint growth among the bio companies, universities, research institutions and others through the cooperation with Korea Pharmaceutical and Bio-Pharma Manufacturers Association,” and, “We will do the best of our efforts to enable Pohang Fusion Tech District to take the initiatives to lead K-Bio by actively inviting the excellent bio companies.”