Bio & Healthcare Archives | Be Korea-savvy

Archive by category Bio & Healthcare

As Pet Ownership Soars, Pharmaceutical Companies Tap New Market

As Pet Ownership Soars, Pharmaceutical Companies Tap New Market

SEOUL, May 16 (Korea Bizwire) – With the ranks of pet owners swelling in South Korea, pharmaceutical companies are increasingly turning to this burgeoning market as a new frontier for growth, rolling out a diverse array of products ranging from medications to health supplements for furry companions.  According to industry sources on May 14, Dong-A Pharmaceutical [...]

Samsung Electronics’ Affiliate Acquires French AI Medtech Startup Sonio

Samsung Electronics’ Affiliate Acquires French AI Medtech Startup Sonio

SEOUL, May 8 (Korea Bizwire) — Samsung Electronics Co. said Wednesday its medical equipment unit Samsung Medison Co. has acquired the French artificial intelligence medtech startup Sonio, as part of its effort to expand its AI-powered health care solution business. Samsung Medison entered into a share purchase agreement to acquire Sonio, which specializes in AI [...]

South Korea Hits Record High for Overseas Medical Travelers in 2023

South Korea Hits Record High for Overseas Medical Travelers in 2023

SEOUL, Apr. 30 (Korea Bizwire) – South Korea saw a record number of foreign patients seeking medical care last year as the country’s healthcare institutions aggressively courted overseas visitors after Covid-19 border curbs were lifted. The Ministry of Health and Welfare said on April 29 that 605,768 foreign nationals received treatment at South Korean medical facilities [...]

South Korea to Pursue Global Dominance in AI Chip, Advanced Bio, and Quantum Technologies, States Government

South Korea to Pursue Global Dominance in AI Chip, Advanced Bio, and Quantum Technologies, States Government

SEOUL, April 25 (Korea Bizwire) — South Korea will launch an initiative to become one of three leading nations in the so-called game-changer industries that include artificial intelligence (AI) chip, advanced biology and quantum technologies by 2030, the science ministry said Thursday. The Presidential Advisory Council on Science & Technology held a meeting and decided [...]

Finance, Health Care and Real Estate Lead Decade of Service Industry Growth in South Korea

Finance, Health Care and Real Estate Lead Decade of Service Industry Growth in South Korea

SEOUL, Apr. 8 (Korea Bizwire) – As South Korea’s economy continues its transition toward a service-based model, a handful of industries like finance, health care and real estate have emerged as consistent drivers of expansion over the past decade, government data has revealed. Statistics Korea reported on April 5 that the nation’s service sector output increased [...]

Dual-Format ‘Supplement Shots’ Shake Up South Korea’s Health Food Market

Dual-Format ‘Supplement Shots’ Shake Up South Korea’s Health Food Market

SEOUL, Apr. 8 (Korea Bizwire) – A novel category of dietary supplements combining liquid and pill formulations in one convenient package is rapidly gaining traction in South Korea, prompting pharmaceutical companies to ramp up sales and marketing efforts for the innovative “dual-format” products.  The premium vitamin brand Enerthistle perfectshot from Daewoong Pharmaceutical crossed 3 million cumulative [...]

South Korea to Disclose Financial Benefits Received by Doctors and Pharmacists

South Korea to Disclose Financial Benefits Received by Doctors and Pharmacists

SEOUL, Mar. 22 (Korea Bizwire) – Starting this year, South Korea will implement measures to enhance transparency in the relationship between healthcare professionals and pharmaceutical and medical device companies. The Ministry of Health and Welfare has announced guidelines for compiling reports detailing the economic benefits provided to doctors and pharmacists.  In 2021, amendments were made to [...]

Global Pharma Merck to Build New Bioprocessing Production Facility in S. Korea

Global Pharma Merck to Build New Bioprocessing Production Facility in S. Korea

SEOUL, Mar. 21 (Korea Bizwire) — Global pharmaceutical company Merck Life Science said Thursday it will invest some 430 billion won (US$324 million) to build a new bioprocessing production facility in South Korea. The European bio firm plans to build a 43,000 square-meter center in Daejeon, about 140 kilometers south of Seoul, equipped with production, [...]