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Korea boosts biotech industry with new $4 billion complex slated for completion in 2038

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저작자 미상 (저작물 2267374 건)

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공표년도

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2013-10-22

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New medicines‚ cutting edge medical devices and medical research and development.
These are just a few of the areas the Korean government plans to focus over the next ten years to keep the country on the cutting edge of the biotech industry and drive economic development.
To get things started‚ the government is building a domestic complex called Osong Bio Valley that combines facilities for the biotech and bio-medical industries‚ universities‚ research institutes and government organizations.
The complex‚ located in Chungcheong Province‚ is expected to cost 4 billion dollars and will be finished in 2038.
The biggest investment thus far has come from biopharmaceutical companies‚ at 53.3 percent.
Korea's Deputy Prime Minister and Finance Minister Hyun Oh-seok paid a visit to the complex on Monday.
He toured Meta Biomed‚ which develops dentistry and surgical products‚ and met with other business leaders with facilities in the complex.
The minister stressed that the biomedical industry is full of potential‚ with projected earnings of 4 trillion U.S. dollars over the next ten years.
He promised to improve regulations‚ increase R&D capacity and nurture human capital.
The complex is part of a third round of government measures designed to boost investment in the biomedical sector‚ and a fourth round will be announced in December.
Ji Myung-kil‚ Arirang News. Reporter : mkji@arirang.co.kr

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