SEOUL, Nov. 11 (Korea Bizwire) – South Korea’s biotechnology industry output grew nearly 10 percent in 2024 from a year earlier despite persistent global trade uncertainties, industry data showed Tuesday. The country’s biotechnology industry production came to 22.92 trillion won (US$15.7 billion) last year, up from 20.87 trillion won in 2023, the Ministry of Trade, [...]
SEOUL, August 3 (Korea Bizwire) — LG Group is ramping up its investments in the biotech sector, acquiring a stake in U.S.-based cancer therapy developer Strand Therapeutics as part of a broader push into future-growth industries. Strand Therapeutics, headquartered in Cambridge, Massachusetts, is a messenger RNA (mRNA) therapeutics company founded in 2017 by bioengineering graduates [...]
BOSTON, June 21 (Korea Bizwire) — South Korea solidified its standing as a global biotech powerhouse at this year’s BIO International Convention (BIO USA), the world’s largest biotechnology exhibition, which concluded Wednesday in Boston. With over 1,300 Korean delegates—the most from any overseas nation for the third consecutive year—South Korea’s presence reflected both its scientific [...]
SEOUL, March 20 (Korea Bizwire) – Pharmaceutical and biotech companies in South Korea are intensifying their efforts to diversify business operations, seeking to improve profitability and strengthen competitiveness by securing future growth engines. According to industry sources, ENCell, a company specializing in new drug development, plans to add artificial intelligence software development and services to its [...]
SEOUL, March 17 (Korea Bizwire) — Major South Korean pharmaceutical and biotech companies are rapidly expanding their Contract Development and Manufacturing Organization (CDMO) facilities to meet growing global demand and strengthen their production capabilities for new business ventures. Samsung Biologics is preparing to complete its Plant 5 next month while simultaneously pushing forward with plans for Plant [...]
SEOUL, March 10 (Korea Bizwire) — South Korea’s biotech, pharmaceutical, and healthcare companies are ramping up efforts to address the country’s low birth rate by introducing expanded family-friendly policies, including enhanced parental leave, financial incentives for childbirth, and workplace childcare support. According to industry sources on Sunday, Kakao Healthcare has begun offering free continuous glucose [...]
SEOUL, Jan. 24 (Korea Bizwire) — The South Korean government has announced an ambitious initiative to position the country as one of the world’s top five biotech powerhouses by establishing a Korean-style bio cluster and accelerating AI- and data-driven biotech research and development (R&D). The plan aims to elevate the biotech industry to a level [...]
SEOUL, Jul. 12 (Korea Bizwire) — Samsung Electronics Co. said Friday it has participated in a Series D investment round for the U.S. biotech company Element Biosciences, Inc. as a strategic investor, expecting to create synergy in the potential medical and digital health care sectors. Samsung Electronics joins other investors, including Fidelity and Foresite Capital, [...]
SEOUL, Jun. 27 (Korea Bizwire) – South Korean vaccine developers are leveraging the expertise gained during COVID-19 vaccine development to accelerate the creation of messenger RNA (mRNA) vaccine platforms. This push has gained momentum following the Korea Disease Control and Prevention Agency’s recent emphasis on domestically producing mRNA vaccine platforms capable of developing vaccines within 100-200 [...]
SEOUL, Jun. 8 (Korea Bizwire) –As the United States Congress deliberates the Biosecure Act, which would prohibit federal agencies from dealing with certain Chinese biotech companies, South Korean pharmaceutical contract development and manufacturing organizations (CDMOs) are seizing the chance to attract new clients. The proposed legislation, which has reached the House floor for a full [...]