Gyeonggi-do to Foster Advanced Biohealth Industry... Secures 14.3 Billion KRW in National Funding Over 3 Years

Gyeonggi Province is set to foster advanced biohealth companies.

The Gyeonggi-do Economic Science Promotion Agency announced on the 7th that it will actively engage in nurturing advanced biohealth companies in the province by participating in the Ministry of SMEs and Startups' 'Legend 50+ 2.0' project.

The 'Legend 50+ 2.0' project is a collaboration between the Ministry of SMEs and Startups and metropolitan local governments to select small and medium-sized enterprises with innovative technologies and high growth potential, providing focused support for three years to foster regional key industries.

Gyeonggi Provincial Government Southern Office

Through participation in this public contest project, Gyeonggi Province has secured a total of 14.3 billion KRW in national funding from 2025 to 2027. This will enable the province to promote various support projects aimed at strengthening the competitiveness of the local bioindustry and creating an advanced biohealth industry ecosystem.

Starting with the recruitment announcement on the 6th, Gyeonggi Province will hold an explanatory session for participating companies on the 14th and accept applications from the 20th to the 27th, selecting a total of 30 participating companies. Eligible companies are pharmaceutical and medical device companies in the province with an average annual sales of over 2 billion KRW over three years.

Selected participating companies will qualify to apply for support projects conducted through the integrated announcement by the Ministry of SMEs and Startups. Major support projects include ▲SME Innovation Voucher ▲Export Voucher ▲SME Policy Funds (Loans) ▲Smart Factory Construction ▲Research Personnel Support Projects, among others.

Kim Seong-beom, Director of the Bioindustry Division of Gyeonggi Province, stated, "Through this project, we will actively support local bio companies to grow into strong small and medium enterprises with global competitiveness," adding, "By selecting and supporting excellent companies, we will contribute to fostering the advanced biohealth industry and creating future growth engines for Gyeonggi Province."

This content was produced with the assistance of AI translation services.