SEOUL, June 7 (Korea Bizwire) — The South Korean government said Wednesday that it will give full support to the local biotechnology industry to raise the sector’s production capacity to 100 trillion won (US$76.9 billion) by 2030 as part of its plans to become the world-leading biotech economy. The Ministry of Science and ICT mapped [...]
SEOUL, Jan. 20 (Korea Bizwire) — South Korea will extend 274.6 billion won (US$222.9 million) for research and development in the bio industry this year, the industry ministry said Friday. The budget will be spent on a total of 252 new R&D projects in the four fields of bio pharmaceuticals, healthcare, bio materials and medical [...]
SEOUL, Dec. 20 (Korea Bizwire) — Output and exports of South Korea’s bio industry expanded at the fastest clip ever in 2020 amid the coronavirus pandemic, data showed Monday. Output of the local bio industry was estimated at 17.5 trillion won (US$14.7 billion) last year, up 38.2 percent from the previous year, according to the [...]
SEOUL, Sept. 1 (Korea Bizwire) — Bio shares on the Korean stock market tumbled this year as investor confidence was hurt by a series of scandals involving major drugmakers, data showed Saturday. The combined market capitalization of 43 pharmaceutical and bio companies listed on the main bourse, the KOSPI, stood at 81.3 trillion won (US$67.2 [...]
SEOUL, Dec. 21 (Korea Bizwire) – President Park Geun-hye vowed efforts to cultivate the local bio industry Monday, saying it will serve as a new growth engine for the country in the future “The government plans to continue strengthening its support to develop the bio-medicine industry as the core industry that spurs growth in our [...]