Merck Korea and Incheon sign MOU on biopharm

Pharmaceutical giant Merck Korea signed a memorandum of understanding (MOU) with the Incheon Free Economic Zone on Monday to cooperate on the development of the local biotechnology industry.

Songdo in Incheon is fast becoming a sort of mecca for the country’s pharmaceutical industry as leading companies like Samsung BioLogics and Celltrion have nested in the area and foreign companies are setting up research and training centers to take advantage of the area’s established industry networks. Just last month, Merck relocated its biotech research center from Pangyo in Gyeonggi to Songdo in Incheon and expanded the facility. The so-called M Lab Collaboration Center will provide local companies with resources including expertise from Merck’s own engineers to help raise local talent and boost the country’s biopharmaceutical industry.

Cooperation between Merck and the Incheon economic zone will encompass “research on biopharmaceutical processes, logistics service and investment on production facilities,” the company said Monday.