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Korea Expands Financial Support For Global Innovation Bid

State-Led R&D Grants Rise As New Fund Launches

 
• By Jung Won Shin

While keeping its policy focus mainly on controlling the pandemic situation, South Korea is also increasing R&D grants to support the development of innovative drugs with global blockbuster potential through the launch of renewed and better funded Korea Drug Development Fund.

Funding
KDDF Has Selected 113 Projects For Support This Year • Source: Alamy

Since the 2011 launch of 10-year, state-led funding project, the Korea Drug Development Fund (KDDF), by three South Korean ministries including the Ministry of Health and Welfare, the $1bn initiative has played a key role in providing R&D support across the development cycle to developers in the country.

Over the past decade, the KDDF has provided total financial assistance amounting to KRW238.8bn ($201

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