This photo shows acting Finance Minister Kim Beom-suk. (Image courtesy of Yonhap)
SEOUL, May 28 (Korea Bizwire) — Acting Finance Minister Kim Beom-suk said Wednesday the government will mobilize all available resources to foster the bio industry as a new engine for South Korea’s economic development.
Kim made the remarks during his opening speech at a policy forum held in Seoul, which brought together industry representatives and government officials to discuss the current status and future policy challenges of the nation’s bio sector.
Highlighting South Korea’s global leadership in the contract development and manufacturing organization (CDMO) sector, Kim said the domestic clinical infrastructure is among the best in the world.
However, he also pointed out key challenges, saying that when it comes to the industrial ecosystem and the scale of investment, there remains a considerable gap between South Korea and advanced countries.
“It is clear that we still have a long way to go,” he added.
The government earlier set a goal to turn South Korea into one of the world’s top five bio industry powerhouses by 2035.
(Yonhap)
