Myongji Hospital said it will join forces with Goyang City to support its goal of being designated as a "National Advanced Bio Strategy Industrial Specialized Zone" by utilizing its specialized technologies and medical infrastructure.

The two institutions signed a memorandum of understanding (MoU) on Tuesday and agreed to cooperate not only for the designation of Ilsan Techno Valley as the National Advanced Bio Strategy Industrial Specialized Zone but also to strengthen digital bio-based technology business using Myongji's human biobanks.

To achieve this, Myongji Hospital plans to conduct research and exchange based on the technology and accumulated database of its three human biobanks -- the Brain Tissue Bank, Human Derived Material Bank, and Organoid Bank.

The two parties will also cooperate in the development of local advanced regenerative medical clinical research facilities.

"We will do our best for the designation of the National Advanced Bio Strategy Industrial Specialized Zone, which the Ministry of Trade, Industry, and Energy is currently working on, to strengthen support at the national level for biotechnology and healthcare," Goyang Mayor Lee Dong-hwan said. "This will contribute to Goyang becoming an advanced regenerative medical city in the bio-medical field."

Myongji Hospital Chairman Lee Wang-jun also said, "Myongji Hospital is realizing precision medicine with three human resource banks, which is the basis for developing customized therapeutics."

Through innovative and differentiated infrastructure and R&D achievements, Myongji Hospital will play a significant role in forming precision medicine clusters and fostering the national advanced strategy bio-industry, Lee added.