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ABOUT CBF

CEO Message

CHUNCHEON
BIOINDUSTRY FOUNDATION

YOO JI UK

The bioindustry plays a critical role in leading regional
economic growth

The CBF taps into its expertise and knowledge to help the city of Chuncheon and Gangwon province with promoting and expanding the bioindustry. The city organized an industry-academia-government research group to submit a plan to promote the bioindustry in Chuncheon to the government. The Ministry of Trade, Industry and Energy adopted the plan and designated Chuncheon as the first Korean city to promote the bioindustry in 1998..

To advance Korea’s first Bioindustry Support Center and to better utilize other industrial infrastructure, the city founded the CBF in 2003. With the vision of improving the competitiveness of the bioindustry to create a global healthcare R&BD cluster, the foundation is committed to supporting biocompanies, in particular, for technical development and commercialization.

With the trend of low-growth and the wave of the 4th industrial revolution, the world is facing a rapid paradigm shift. For all that, however, the biobusinesses of Chuncheon recorded the revenue of 600 billion won (KRW) and export of 160 billion won. That is a 16-fold increase in revenue, 400-fold in export, and 8-fold in employment compared with its first year performance. To maintain momentum of remarkable growth of regional biobusinesses, the CBF will take a lead in resolving difficulties of the bioenterprises by mobilizing all resources.

The CBF will do our best to improve the competitiveness of biobusinesses with incessant innovations, to help the biocompanies to realize their own visions into their values, and to develop the bioindustry to become a growth engine for future generations of Chuncheon.