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Korean Bioclusters Offer Tax, Other Incentives To Attract Global Firms, Talent

Biologics Tech A Key Focus

 
• By Jung Won Shin

South Korea has formulated new detailed policy measures to support the formation of major bioclusters, which will offer tax and other incentives in a bid to lure foreign firms and talent.

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Easier Rules To Attract Firms To Korean Bioclusters • Source: Shutterstock

South Korea’s grand plan to form major global bioclusters along the lines of that in Boston, US to boost the competitiveness of the pharma and biotech industries is taking a step further with new regulatory measures as well as budget and tax plans.

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