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Pax Technica

In an era where science and technology play a pivotal role in ensuring national
stability and prosperity, we are witnessing the advent of the Pax Technica era.

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Korean Biotechnology Industry:
Its Past and Future Outlook

A 40-Year History of Korean Biotechnology Led by Government and
Private Sector Collaboration
1980.10

35th Symposium on “Genetic Engineering” hosted by the Korean Association of Biological Sciences

35th Symposium on “Genetic Engineering” hosted by the Korean Association of Biological Sciences

1983

Enactment of the Biotechnology Support Act

1985

Establishment of KIST Genetic Engineering Center

Establishment of SNU Institute of Molecular Biology and Genetics

Research funding for university-affiliated genetic engineering research centers (1985-1998)

1994

Establishment of the 1st Framework Plan for Biotechnology Promotion

1998

Enactment of the Brain Research Promotion Act

1999

Launch of Sunpla, the first domestically developed new drug

2000

Adoption of the Cartagena Protocol

Biotechnology venture boom (232 startups)

2003

Factive by LG Life Sciences, the first Korean new drug to receive FDA approval

2004

Enactment of the Bioethics and Safety Act

2006

Establishment of the 2nd Framework Plan for Biotechnology Promotion

2009

Enactment of the Act on the Acquisition, Management, and Utilization of Biological Research Resources

2011

Launch of the world’s first stem cell treatment

Establishment of Samsung Biologics

2016

Biotechnology venture investment surpassed investment in ICT startups

2017

Establishment of the 3rd Framework Plan for Biotechnology Promotion

2019

The first independently developed Korean drug to receive FDA approval

2020

New drug exports exceeded KRW 20 trillion

2023

Establishment of the 4th Framework Plan for Biotechnology Promotion

2024

Biofoundry Project passes the preliminary feasibility test

Private sector: During this period, Korean companies have utilized the results of basic research in bioscience and biotechnology to strengthen cooperation among innovation actors. This has led to innovative outcomes and new business opportunities. By pursuing global strategies, Korean companies have successfully established an innovation system and infrastructure that supports sustainable growth.

Goverment: Over the past forty years, the Korean government has consistently adjusted and improved national policies and directions in biotechnology to actively respond to paradigm shifts driven by technological development and innovation.

Korean Biotechnology Now Preparing for a Giant Leap onto the Global Stage

Securing technological and industrial capabilities to lead the Bio-Transformation

In the IMD (International Institute for Management Development) World Competitiveness Ranking of 2023, Korea was ranked 2nd in scientific infrastructure competitiveness (3rd in the previous year) and 23rd in technological infrastructure competitiveness (19th in the previous year). As of 2022, Korea’s technological level in healthcare and industry-related technologies stands at 79.4% of that of the U.S., the world's leading country, with a technological gap of 2.5 years. Compared to 2016, Korea has shown a 3.3% improvement in its technological level, which was at 76.1% back then. Furthermore, the technological gap between Korea and the U.S. has shortened by 0.7 years from 3.2 years in 2016.

Source: The World Competitiveness Yearbook, IMD, 2023; 2022 Expert Survey on the Assessment of Healthcare and Industry-related
Technologies and Its Results Analysis, Korea Health Industry Development Institute (KHIDI), November 2022

Securing growth momentum through active global technology transactions and M&As

Explosive growth of biopharmaceuticals driven by rapidly increasing sales and production demand

Korea’s bioindustry and healthcare sector: Opening new horizons in digital innovation

Korean Biotechnology Sector-Key
Competencies for Future Growth

Current Competitiveness of the Korean Biotechnology Sector

Biotechnology companies among the KOSDAQ-Listed Technology Special Companies

Since 2005, the KOSDAQ market has implemented a special preliminary review exception program for technology companies, specifically designed to allow those with minimal sales performance but significant technological prowess and growth potential to be listed. This program enables companies to be listed through a technology evaluation by specialized evaluation agencies or recommendations by listing agents.

As of 2022, a total of 171 technology-specialized companies have been listed under this program, 101 of which are biotechnology companies.

Building a World-Class Ecosystem for Biotechnology Industry

Biotechnology industry in different regions in Korea
  • No. of companies
  • Human resource
  • Investment
  • Sales

Units: No. of companies, Headcount, KRW tril.

Seoul Metropolitan Area Seoul, Gyeonggi, and Incheon 656 3.17 36,461 16.4 Chungcheong Region Daejeon, Chungbuk, and Chungnam 217 0.63 13,845 2.85 Jeolla Region Gwangju, Jeonbuk, and Jeonnam 74 0.05 2,121 0.86
Gangwon Region Gangwon 45 0.12 3,211 0.71 Gyeongsang Region Daegu, Gyeonbuk, Busan, Ulsan, and Gyeongnam 90 0.12 5,166 2.59 Jejudo 7 0.018 384 0.018

Source: 2022 Biotechnology Industry Survey by the Ministry of Trade, Industry and Energy (MOTIE) and the KoreaBiotechnology Industry Organization, 2023

Scope of the survey: Korean companies engaged in business activities related to biotechnology and bioengineering according to the Biotechnology Industry Classification Code, KS J 1009. This code was endorsed by the Korean Agency for Technology and Standards under the Ministry of Trade, Industry and Energy in January 2008 and revised on December 29, 2016. The classification code provides standards for defining the scope of biotechnology.

Companies surveyed: Out of 1,089 registered companies in the Korean biotechnology industry, 1,074 biotechnology companies participated in the survey, while 15 did not respond.

Human resource: Refers to the number of employees hired in the Korean biotechnology industry.

Investment: Refers to the total investment in the Korean biotechnology industry, including R&D and facility investment.

Sales : Includes both domestic sales and exports of biotechnology companies.

Government’s Efforts to
Foster Biotechnology

Government Strategies for Biotechnology Innovation and Globalization

Framework Plans and comprehensive Plans

The 4th Framework Plan for Biotechnology Promotion : Innovation Strategy 2030 Leading the Bio-Transformation

The 4th Framework Plan for Biotechnology Promotion (2023-2032) has been collaboratively developed by 14 ministries, including the Ministry of Science and ICT, in accordance with the Biotechnology Promotion Act. This plan is the highest statutory framework governing the nation’s biotechnology R&D.

Through the bio-transformation often characterized by 'convergence' and 'connection', Korea is able to overcome current limitations and create new opportunities that span across all areas of the bioindustry.

The 4th Framework Plan for Biotechnology Promotion is a comprehensive policy aimed at supporting all areas of biotechnology throughout the entire technology development stage, with the ultimate goal of positioning Korea as a leading nation in the global bio-economy.

The 3rd Master Plan for Fostering Health and Medical Service Technology
1st Comprehensive Plan for Development & Support of the Medical Devices Industry

Strategies to respond to the digital transformation of bioindustry

Joining the ranks of leading countries by 2030 using digital biotechnology in the era of bio-transformation : Digital Biotechnology Innovation Strategy (December 2022)

The Yoon administration set a goal of "joining the ranks of G5 countries in science and technology by fostering super-gap strategic technologies" as part of its 110 National Agendas, which includes "promoting digital biotechnology for bio-transformation".

The strategy has been developed to help Korea achieve this goal by overcoming the limitations of existing biotechnology R&D programs, such as high costs, high risks, and long lead times. The strategy aims to promote Korea’s entry into the ranks of biotechnology leaders through the tactics of selection and focus.

Strengthening biomanufacturing innovation capabilities in the era of engineering biology: Engineering biology is a key solution for overcoming the limitations of bioresearch (November 2022)
Promoting green bioindustry for the future development of the bioagricultural industry: Green Bioindustry Promotion Strategy (February 2023)