EDGC, founded joint venture corporation with Yancheng City...Opening the Chinese market
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[by Ma Chaerim] Eque Diagnomics Genome center signed on the MOU contract with Yancheng city government, China. EDGC is expected to start full-fledged efforts in the 1.4 billion Chinese genome market.
On the September 27, The Yangcheng city of China and the global dielectric corporation ‘Eque Diagnomics Genome Center’ said they have signed on a MOU agreement regarding the bio-dielectric business. On the signing day, 4 state officials including state funeral of Yangcheng city Son Hong have joined the meeting.
Yancheng City, Jiangsu Province People's Republic of China has the fifth largest population; designated as one of the three cities that Chinese Government have assigned to be the Korea-China industrial cooperation complex. It is known for pro-Korean city by attracting many Korean businesses including the Kia Motors.
EDGC said by directly establishes MOU with the Yancheng city, it benefits from faster licensing of facilities such as research center. Also it benefits from having stable structure that state government participates in the business directly.
In addition, compare to other cities, it gives benefit such as promoting business partnerships with Jiangsu University and hospitals within Jiang Su Seong; smoothing the business with them.
In particular, due to the opening of the High speed rail the city of Yancheng allows providing services to the entire Southeast region including Shanhai. And with its abundant industrial infrastructure, Yancheng is the perfect ground to open up the Chinese market.
EDGC’s Shin Sang Cheol joint representative direct commented regarding this MOU “we are going to launch various genome service businesses through genetic analysis from the research center we are going to build in the Yancheng city. We are well prepared for the China business compare to any dielectric businesses in Korea. Moreover, we are going to expand our business by launching dielectric business that associates with food, makeup, and health food; also launching clinical dielectric business targeting hospital, examination center, ophthalmologist, internal medicine and dermatologist.
On the other hand, the Yancheng city have various supporting policies for the foreign businesses such as providing venue, matching the partner company, acquiring licenses, matching labor supply, and connecting high end universities and hospitals within Jiangsu. (photo by EDGC)