PM says to foster 200 'frontier' bio, pharmaceutical firms by 2030
Prime Minister Han Seong-sook said Thursday that the government will select 200 bio and pharmaceutical companies by 2030 and help them grow enough to compete on the global stage. Han made the remark at a national policy coordination meeting held at a Chong Kun Dang Pharmaceutical Corp. factory in the central city of Cheonan, stressing that Korea should identify and foster innovative firms armed…
Prime Minister Han Seong-sook announced on Thursday that the government will identify and support 200 bio and pharmaceutical companies by 2030 to enable them to compete globally. During a national policy coordination meeting at a Chong Kun Dang Pharmaceutical Corp. factory in Cheonan, Han emphasized the importance of fostering innovative firms equipped with advanced technologies and ideas.
She stated that 50 frontier companies would be selected annually by 2030, and the government would provide comprehensive support for research, development, and investment at each stage of growth, from candidate substance development to clinical trials and commercialization. The government intends to assign a dedicated director to each chosen company for customized assistance over a five-year period.
Additionally, the government plans to allocate 150 billion won in policy financing over three years, including 60 billion won in investments from banks specializing in research and development and 90 billion won in guarantees from the Korea Technology Finance Corporation.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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