- Location: Daegu Innovation City, Sinseo-dong, Dong-gu, Daegu Metropolitan City
- Area: 1,054,000㎡ (Innovation City: 4,216,000 ㎡)
- Project period: 2009-2038 (Site construction: 2009-2013)
- Total project cost: KRW 4.6 trillion (national government: KRW 1.1 trillion, local government: KRW 0.7 trillion, private investment: KRW 2.8 trillion)
- Support facilities:
Core research facilities - Drug Development Support Center, Medical Device Development Support Center, Laboratory Animal Center, Clinical Trial Materials Manufacturing Center
Convenience facilities - Communication Center, Science Village
Medivalley is a high-tech medical industrial complex established by the national government for the purpose of developing the national medical industry into a leading industry worldwide. The project, which began in 2009 and is scheduled for completion in 2038, has a total budget of KRW 4.6 trillion and was assigned to an area of 1.05 million square meters in Daegu Innovation City, Dong-gu by the Daegu Metropolitan Government in August 2009. Medivalley aims to develop 16 new pharmaceutical drugs and 18 high-tech medical devices and introduce them to the world market.
Groundbreaking for Medivalley officially took place in October 2011, followed by the completion of four key research support centers—the Drug Development Support Center, Medical Device Development Support Center, Laboratory Animal Center, and Clinical Trial Materials Manufacturing Center—in November 2013. Starting from 2014, Medivalley has been involved in full-scale research and development activities and the attraction of anchor businesses to the complex.
In the last few years, Medivalley has welcomed the Korea Brain Research Institute, KM Application Center, and the 3D Convergence Technology Support Center, which were completed in Dec 2014, June 2015, and September 2015 respectively. Eight more institutions that will soon join Medivalley as the result of construction or relocation include the: High-tech Medical Genome Research Institute, Laboratory Animal Resources Bank, High-tech Clinical Trial Center, K-Medical Center, Medical Technology Testing & Training Institute, ICT Clinical Trial Support Center, Medical Device SW Testing & Certification Center, and Ministry of Food and Drug Safety Daegu Office.
In 2016, Medivalley plans to welcome the National Heart Center, the Center for Inter-Industry Collaboration, and the Academic Research Institute. Preparations are also being made for government-led feasibility studies on the establishment of a high-tech brain research cluster and a national bio-imaging center as well as a modular-based medical devices platform development project.
In order to ensure a suitable business environment in which the institutes and enterprises of Medivalley can thrive and succeed, the Medicity Council—a leading administrative body of Medivalley—offers Medivalley companies assistance with promotional and product purchasing activities. Thanks to these and other efforts, Insung Medical (IV filter set), Lutronic (laser skincare), and Unimedics (infusion products) achieved a combined sales of KRW 92,971 million in 2014 alone.
As of the end of 2015, a total of 98 companies are scheduled to move into the Medivalley area, including 43 companies—34 medical device, 8 pharmaceutical & biotechnology, and 1 other company—in the Medivalley research complex, and 55 companies—52 medical device, 2 pharmaceutical & biotechnology, and 1 medical information company—in the INNOPOLIS Daegu Medical R&D District.
Major medical businesses
|Leading pharmaceutical firms||Medical devices firms||Oriental medicine firms|
|Dongsung Pharmaceuticals Co., Ltd., Hanlim Pharmaceuticals Co., Ltd., Korea Pharmaceuticals, Daewoo Pharmaceuticals Co., Ltd.||Lutronic (laser medical devices), Insung Medical, Saeyang Microtech, Saesin Precision Co., Ltd. (dentistry devices)||Korea Bio Medical Science Institute, Okchundang|
With revisions to the ‘Special Act on the Designation and Support of High-tech Medical Complexes’ enacted last year, the Clinical Trial Materials Manufacturing Center of Medivalley can now produce drugs for commercial use in addition to research and clinical trial, and tenant firms within Medivalley may now install small-scale production facilities. This ability to manufacture drugs and medical devices developed within Medivalley is expected to continue to create added momentum to invigorate the entire complex, making Medivalley a prime example of the successful deregulation of the medical industry.
In order to contribute to the medical industry as a whole through R&D support, there are currently 34 major R&D projects underway at Medivalley, including specialized research projects on the development of new drugs for the treatment of diabetes, metabolic disorders, and weight-related diseases. Other projects include those for the development of new bio materials using human fat tissues, manufacturing of treatment devices using 3D printing technology, and development of micro-medical robot systems for the treatment of cardiac infraction.
Going forward, Medivalley purposes to attract anchor businesses through its continued involvement in national government projects and research and development activities that explore the trends in medicine and technology and meet the pressing needs of the medical industry. By working in collaboration with the government and key enterprises, Medivalley will continue to rise as a hub of the medical industry in East Asia and the world.