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Korean Govt’s Role To Boost Biopharma Should Sync With Maturity

Differentiated Strategy Required

 
• By Jung Won Shin

A recent report suggests how the South Korean government’s role in boosting the biopharma industry should differ from other countries due to variations in the development stage and status of the components of the industry, requiring a more segmented and tailored approach as it strives for flagship status.

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Time To Discuss And Review Government’s Role For Each Biohealth Area • Source: Shutterstock

While many countries are racing to beef up their economically important biopharma industries through a variety of support measures, a recent research report suggests that South Korea first needs to establish an appropriate role for the government in line with the development stage of the domestic industry if it is to become a flagship sector.

Compared with the US and Switzerland, whose mature systems have largely focused on improving regulations, systems and corporate incentives to...

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