DAEJEON, South Korea - The city of Daejeon is solidifying its position on the global stage, laying a strategic foundation for its bio-industry to expand into the international market.
In a significant move, David Flores, the CEO of BioCentury, a leading global bio-healthcare magazine, visited Daejeon on September 9th. The visit was a follow-up to a meeting with Daejeon Mayor Lee Jang-woo at the "BioUSA" conference in Boston this past June, signaling a tangible expansion of Daejeon's global network.
During his visit, Flores toured Daedeok Innopolis research institutions and leading local bio-companies. He met with executives from Alteogen Co., Ltd., which has achieved world-class results with its bio-drug formulation platform technology, and CureCell Co., Ltd., which has the nation's first GMP facility for producing CAR-T anti-cancer therapeutics. He also visited the Korea Research Institute of Bioscience and Biotechnology to learn about the national Biofoundry project.
Furthermore, Flores participated in the 'Daejeon Innovation Technology Exchange Meeting' at the D-Unicorn Lounge, where he was introduced to Daejeon's bio-industry ecosystem and had the opportunity to present BioCentury to the audience. The event featured presentations from local bio-companies, including E&S Healthcare Co., Ltd. and Y-Biologics, Inc., on their innovative technologies.
Flores expressed high praise for Daejeon's bio-startup infrastructure and R&D capabilities, particularly noting the close cooperation among research institutions, universities, and companies centered in Daedeok Innopolis. He stated that "Daejeon is a city with both technological prowess and growth potential," emphasizing its capacity to serve as a hub for global market entry.
Mayor Lee Jang-woo, in a meeting with Flores, highlighted that the collaboration is more than just an exchange but a "practical stepping stone to introduce Daejeon's bio-industry to the world." He pledged to provide comprehensive support for local companies to leap into the global arena.
Daejeon's corporate ecosystem, particularly in the bio-industry, has shown remarkable growth. The number of listed companies in Daejeon has increased to 66 with the recent listing of ADC-based startup Intocell, and the city's market capitalization reached a record high of 77 trillion won in September. Notably, companies like Alteogen, Ligandchem Bio, and Peptron are among the top 10 on the KOSDAQ market, proving their global competitiveness. With 42% of Daejeon's listed companies being in the bio-sector, Daedeok Innopolis stands as the largest bio-venture and research cluster in Korea.
This visit is expected to accelerate the global expansion of Daejeon's bio-companies by introducing its bio-ecosystem to global pharmaceutical companies and investment firms, leading to joint international R&D, investment attraction, and technology commercialization. The city of Daejeon plans to continue strengthening its global network and nurturing talent to become a leading "bio-innovation hub in Asia."
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