The Korean government has set up a nationwide strategy to foster `bio` as a new economic growth engine. The government aims to raise the Korean market share in the global biotech sector from 1.7% (KRW 27 trillion) in 2015 to 5% (KRW 152 trillion) in 2025 by 2025.

In order to achieve this, the Ministry of Science, Technology and Communication revealed on September 17 that it will open and finalize the agenda of "Biotechnology Innovation Strategy 2025 (Basic Plan for Nurturing the Third Biotechnology). This bio-economic innovation strategy is focused on three strategies: innovation of R & D aiming for the first time in the world, creation of a bio economy responsible for the future growth of the nation, and establishment of a national ecosystem foundation for the private-led bio economy.

The government is expected to strengthen R & D support for basic source areas centering on university research institutes. Besides, bio R & D will contribute to solving social problems such as fine dust reduction and development of safe chemical substitute materials, and plan to develop new added value materials such as ensuring seed sovereignty and spreading intelligent agriculture. It will also support the creation of domestic blockbuster drugs through the discovery of innovative substances and the construction of a new drug mega fund in addition to enhancing R & D for infectious diseases.

Meanwhile, it is a strategy to accelerate bio-based fusion research such as precision medicine, brain research, medical device, nano bio, and microorganism and to create new business. Therefore, it plans to link the current distributed R & D organization with bio-specific and R & D-dedicated organizations to secure a national innovation center. Also, the `Biotechnology Promotion Act` will be amended to create an innovative research environment and commercialization in the field of biotechnology.

The government aims to make 120,000 biotech jobs. It plans to increase the number of biotech-based jobs from 20,000 in 2015 to about 145,000 in 2025. "Biotechnology Innovation Strategy 2025 is a 10-year blueprint for the bio-leap of Korea, which is made by 8 experts from ministries and experts of more than 100 mountains, academia, institutes and hospitals together," said Young-min Young.

Meanwhile, the Ministry of Information and Communication held the `Bio-economic Innovation Policy Debate` on September 15. Kim Jang-sung, deputy director of the Korea Biotechnology Research Institute, stated that "The government aims to increase the Korean market share to 5% in the global biomarker market by 2025." The government aims to foster local bases in overseas famous bio- We need to aim at the overseas market from the beginning to be possible. " Lee Seung-gyu, vice chairman of the Korea Biotechnology Association, pointed out, "The Ministry of Health and Welfare, the Ministry of Health and Welfare, the Ministry of Industry and Commerce, and the Ministry of Health and Welfare, have a picture of the bio-industry.”

By Kim Ji Seob cloud50@


[ copyright ⓒ The Digitaltimes ]