The Shining Jewel : Songdo International City
Introduction to Companies that Moved to Songdo
Writer Kim Ji-suk
Photographer Kim Sung-hwan, Hong Seung-hun
Celltrion has created a new market called “antibody bio-similar” under the goal to realize human health and welfare improvement. Compared with original bio-medicines, bio-similar medicines have similar levels of efficacy but at more affordable prices. Therefore, they are known as highly economical medicines. For this reason, this market is drawing national attention as a potential growth engine, and the market for “Remsima” and “Herzuma” developed by Celltrion is worth 33 billion won. Celltrion, which achieved a world first by obtaining approval for bio-similar medicines, is stimulating Korea’s bio-similar market. In addition, the company’s entry was the first case of foreign investment in IFEZ and is fuelling other companies to move to Songdo’s bio front.
Location: 23 Academy-ro, Yeonsu-gu, Incheon (13-6 Songdo-dong)
Dong-A Socio Group (Dong-A Meiji Bio)
Dong-A Socio Group’s business lines ranges from medicine, soft drinks, and distribution to data processing and materials. To secure a new growth engine to lead the next generation, the company decided to move to Songdo International City. Dong-A, with a prime location, focuses on prescription medicines and medical instruments, diagnoses and overseas business. Based on the best research infrastructure, the company is firmly positioning itself as a global pharmaceutical entity by developing new global medicines. Dong-A is carrying out systematic expansion from its traditional focus on pharmaceuticals to medical services and other business fields.
Location: 45 Jishikgiban-ro, Yeonsu-gu, Incheon (216-1 Songdo-dong)
Samsung Biologics
The entry of Samsung Biologics has helped Songdo International City to become an international bio mecca. The company, which was established through a partnership of Samsung Group and “Quintiles,” has optimal capacity for product development, clinical tests, licensing, manufacturing, and sales. In addition, Biologics is conducting with affiliate Samsung Bioepis clinical tests on Enbrel and Remicade, which are medicines for rheumarthritis, and the bio-similar product Herceptin, a medicine for breast cancer. These medicine hold enormous potential with annual sales reaching up to trillions of won. Thus they form the core of the bio-similar business that Samsung is promoting as the next-generation cash cow.
Location: 107 Cheomdandae-ro, Yeonsu-gu, Incheon (201-2 Songdo-dong)
Posco E&C
Posco E&C, which implements architecture-related projects from beginning to end, is a global company active in plant construction such as those of steel, environment, and energy as well as the development of new cities and super high-rise buildings. To develop a new market into a profit source, the company is developing new cities such as Songdo IBD of Korea and An Khanh of Vietnam and complexes, and is also growing distinguished in renewable energies such as solar, wind, and tidal power. Posco E&C will continue to grow into Global E&C Co., a 21st-century leader, by responding to the rapidly changing management environment and increasing technical competitiveness based on a business model that values talent and technology.
Location: Posco E&C, 241 Incheon Tower-daero, Yeonsu-gu, Incheon (36 Songdo-dong)
TOK Advanced Materials
TOK Advanced Materials produces semiconductors, displays, semiconductor packages, and solar cell panels. First in the industry with annual sales of 1.12 trillion won, TOK opted to move to Songdo to respond to the rapidly changing market. The company plans more R&D activities and personnel training in cooperation with universities. Its entry into Songdo is an example in which a Japanese company with a an international position directly invested in Korea. So the company is likely to serve a major role in localizing semiconductor technologies and facilitating the Korean economy.
Location: 34 No.60-gil, Cheomdan-daero, Yeonsu-gu, Incheon (215-3, Songdo-dong)
Kyobo Data Center
As a company seeking more IT outsourcing, IBM, a leading global IT player, established a data center with its strategic partner Kyobo Life Insurance. The Kyobo Data Center building was constructed in compliance with global standards based on IBM’s advanced IT technologies and is located in the Knowledge Informatization Industrial Complex in Songdo International City. The four-story structure has a gross area of 10,938㎥ and an earthquake-resistant design that can withstand quakes of up to 7.0 magnitude. In case of blackouts, the building not only has a dual power supply device, but also an emergency power generation facility. Therefore, economic vitalization of the region is expected according to the integration of advanced IT technologies and economic activities of IBM employees and new IT workers.
Location: 14 Venture-ro, Yeonsu-gu (10-40, Songdo-dong)
Mando-Brose
Mando-Brose was established through a strategic partnership with Germany’s Brose, a global motor specialist. Many small electrical motors are installed in cars for user convenience and safety, and their roles are further increasing. Mando-Brose projects that cars will ultimately develop into a futuristic cutting-edge means of transportation. The automotive-related finished car market, including electric cars, showed quick recovery of 9.2 percent in 2013, and expects annual average growth of 3.4 percent until 2020. Mando-Brose is striving to develop and manufacture motors for electric cars with the goal of mass production in 2013.
Location: 75 No.60-gil, Cheomdan-daero, Yeonsu-gu (216-2, Songodo-dong)
Songdo International City is equipped with basic facilities for companies with advanced capabilities. Those in advanced industries and bio-medicine are increasingly moving to the city. Songdo is also expanding facilities for tourism, leisure, and culture, with each venue fully playing a role and creating even greater synergy effects. The development of Songdo International City has just started, and will continue to create new standards.
