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Cluster Wars: Korea’s Challenges In Shaping a Boston Style Biopharma Hub

Multiple Small Centers Create Issues

 
• By Jung Won Shin

South Korea has yet to come up with detailed plans for a major national biopharma cluster, but is considering a virtual approach to connect existing industry hubs nationwide. At a recent policy forum, experts discussed related issues including governance and insufficient investment, as well as the need to attract foreign firms and capital to compete with rival clusters in Asia.

KDRA biohealth policy forum
Panel discusses biopharma cluster issues at KDRA policy forum in Seoul • Source: Jung Won Shin

Biopharma clusters are springing up everywhere in South Korea. About 25 have already been formed nationwide and more are expected to come, as pretty much every local and municipal government jumps into establishing one in an effort to benefit from a national grand plan to build a major industry and innovation hub on a par with Boston in the US. 

But the northeast Asian country has added challenges, not least that it must compete with established Asian rival clusters such...

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