Three Bio Companies Including Chong Kun Dang Apply for Baegot Research Site Recruitment in Siheung
Siheung City to Accept Business Applications on the 29th
Preferred Negotiator to Be Selected Following Review
Three bio companies, including Chong Kun Dang, have submitted letters of intent to participate in the recruitment for research site tenants in the Baegot District of Siheung City, Gyeonggi Province. The city plans to select a preferred negotiating partner after reviewing business plans and will proceed with efforts to attract companies.
Gyeonggi Free Economic Zone Bae-got District National Advanced Strategic Industry Bio Specialized Complex. Courtesy of Siheung City
View original imageOn October 1, Siheung City (Mayor Lim Byeongtaek) announced that it had received letters of intent from three companies—BioFDNC, DuChemBio, and Chong Kun Dang—for the tenant recruitment on research site 3-4 within the Siheung Baegot District of the Gyeonggi Economic Free Zone, during the application period from September 22 to 30.
The target site consists of a 6,361 square meter research lot located at 303 Baegot-dong. The city plans to develop this location as a key hub for bio research and development (R&D) and corporate clustering, in connection with fostering the National Advanced Strategic Industry Bio Specialized Complex.
According to the contest guidelines, only companies that submitted letters of intent will be eligible to submit business applications on October 29. Submitting a letter of intent serves as a preliminary step for participation and does not constitute final tenant selection.
The city will review the business applications and then select a preferred negotiating partner. Subsequent procedures, such as signing a land sales contract, will follow to begin full-scale development of the research site.
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Lim Byeongtaek, Mayor of Siheung City, stated, "The Baegot District is growing into a key hub for Korea's bio industry, centered around the National Advanced Strategic Industry Bio Specialized Complex. We will focus all our efforts on successfully attracting top bio companies, building an innovative bio ecosystem where research, businesses, and talent can grow together, and completing Siheung City as Korea's leading 'K-City.'
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