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Attraction of foreign direct investment

Home > Development Plan > Osong Biopolis > Attraction of foreign direct investment

Sectors in which foreign direct investment is attracted

General directions

  • As for the attraction of foreign pharmaceutical businesses, a total of fifty-nine domestic and foreign pharmaceutical manufacturers have invested in Osong and Ochang, Chungbuk. The use of knowhow gained in this process is expected to fuel the attraction of foreign businesses in the medical device sector.
  • The attraction of foreign businesses in the pharmaceutical sector for Chungbuk has been centered around the BioValley infrastructure and modeled after the biocluster in Maryland.

Entities attracted

  • Research and experimental development on natural sciences and engineering
  • Universities and educational institutions
  • Hospitals (those conducting clinical trials or research and development of new drugs and medical devices)
  • Research divisions of manufacturers of new drugs and medical devices
  • Organizations developing new drugs and medical devices, etc.

Living conditions for foreigners

Plans to provide exclusive residential facilities for foreigners

  • 27,722 m2, or 3.5% of the all residential lots of 792,078 m2, will be provided as exclusive residential lots for foreigners. As Cheongju Aeropolis has no housing plans, Osong Biovalley will accommodate the residential demand.
  • Certain condominium lots will be supplied, providing positive elements and convenience in connection with the foreigners' adaptation to the area.
  • High-density mixed-use tower buildings
    • Placed alongside an inner-city freeway leading to the commercial lots in Complex 1
    • Low-rise local commercial facilities are used to encourage the enlivenment of the community street.
  • Dormitory-like detached houses
    • Placed on the eastern side of the inner-city freeway, accounting for the particularity of use
    Low-density detached houses
    • Placed near parks and green spaces in the suburbs, accounting for the residential environments
  • Medium-density townhouses, etc.
    • Placed together with community facilities in zones between high-density residential zones and low-density ones

Educational and medical facilities

  • International schools
    • To be networked with international educational facilities in neighboring areas such as Sejong and Daejeon
    • It is planned to attract the university campuses of, primarily, the schools with which investment MOU have been signed.
  • Hospitals for foreigners
    • It is planned to place research establishments and clinical research-oriented hospitals, which are to be attracted to the High-Tech Medical Complex.
    • Will provide comprehensive services linked to medical tourism.

Cultural and leisure facilities

  • Administrative and Cultural District
    • Situated at a location with good access to mass transit
    • Support for foreigners and the clustering of cultural facilities are intended to offer convenience.
  • Community Enlivenment District
    • An ecological waterfront park will be created using the Yeonje Reservoir and the embankments of the Miho Stream.
    • Will create urban parks of various nature in order to encourage engagement between foreigners and other residents.