The nine-story, 20,375-square-meter facility will receive 93 billion won in construction funding and is set for completion in 2028

A rendering of the K-Bio Lab Hub to be built in Songdo, Incheon. [Incheon Free Economic Zone Authority]
A rendering of the K-Bio Lab Hub to be built in Songdo, Incheon. [Incheon Free Economic Zone Authority]

Construction of the K-Bio Lab Hub in Songdo International City, part of the Incheon Free Economic Zone (IFEZ), is set to begin in the second half of this year, marking a major step toward establishing a national biotech startup hub.

The Incheon Free Economic Zone Authority announced Friday that the K-Bio Lab Hub project, to be built on the Yonsei University International Campus site in Songdo Zone 7, has completed administrative procedures and design reviews. Ground-breaking is targeted for the third quarter, with completion set for 2028.

The authority is currently running a contractor selection process through the Public Procurement Service. Once bids are evaluated and a final contractor is chosen, full-scale construction will begin.

The K-Bio Lab Hub will be built at 162-1 Songdo-dong within the Yonsei University International Campus. Construction costs total 93 billion won ($60.5 million). The facility spans one below-ground floor and nine above-ground floors, with a total floor area of 20,375 square meters.

Research equipment costs will be covered by the national government, while construction costs will be funded through a special account for free economic zone projects. Yonsei University will provide the site free of charge.

The project is a key national biotech startup support infrastructure initiative led by the Ministry of SMEs and Startups. The hub will serve as a platform offering early-stage biotech startups research space, access to advanced equipment, technology commercialization support and investment linkages.

Once complete, the facility is expected to strengthen startup support functions tied to the Songdo bio cluster.

Beyond nurturing biotech startups, the hub is also expected to boost the regional biotech industry's competitiveness by building cooperative networks with global companies and research institutions and accelerating the commercialization of new drugs and biotech technologies.

"The K-Bio Lab Hub will become a core base for the future biotech ecosystem, leading startup development, technology commercialization and global cooperative network building in connection with the Songdo bio cluster," said Yun Baek-jin, acting head of the Incheon Free Economic Zone Authority.


gilbert@heraldcorp.com