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Korea’s Powerhouse Ambitions Build On Innovation-Fostering Policies

Financing Late-Stage Trials 'Biggest Obstacle'

 
• By Jung Won Shin

South Korea’s Second Vice Minister of Health and Welfare Minsoo Park talks to the Pink Sheet about a broad range of issues including the government’s priorities for innovative R&D, as well as challenges in reaching these goals, measures to deal with the deterioration in biopharma investment sentiment and regulatory changes to support drug development.

Minsoo Park, Korea's Second Vice Minister Of Health And Welfare
Minsoo Park, South Korea's second vice minister of health and welfare • Source: Ministry of Health and Welfare

South Korea is aggressively fostering its biopharma and health-related sectors, looking to grow these into national flagship strategic industries. The country is seen to have outstanding talent in the area, along with strong information and communications technologies to support medical data-based innovation.

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