BIO Industry
Korea's Next-Generation Growth Driver: Bio Industry
Korea’s bio industry has great potential. The average national life span, which currently stands at 78.2, is quickly increasing, transforming Korea into an aging society at a rapid rate. Consequently, the bio industry is emerging as Korea’s next-generation growth industry. A cluster of global biotechnology companies is operating in Gyeonggi Province, making our province the heart of Korea’s bio industry.
The Outlook for Korea's Bio Industry
Korea's bio industry has been growing at a rate of 18% each year and is receiving full support from the government as a future growth industry
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Global market share : 2.2% |
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Average annual growth rate : 18% The government earmarked 9.7% of the total R&D budget in the bio industry. BT Development Project and Bio-Vision 2016, are eligible for government support. |
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Major industries : bio-medicine, bio-food |
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Fast emerging industries : bio-electronics, bio-information |
| Source: Ministry of Commerce, Industry and Energy(2005), Bio Vision 2016 (2006) |
Korea's Bio Industry Heart: Gyeonggi Province
Gyeonggi Province, a highly attractive investment destination for bio-tech companies, accounts for 46.9% of Korea's entire bio industry (based on the number of companies operating in the region) while 60.7% of the country's bio industry workforce is employed in the province. Furthermore, the province accounts for 68.6% of the R&D budget set aside for the industry.
Bio Industry Companies Located in Gyeonggi Province
Domestic Companies (Research Centers / Manufacturing Plants)
Dong A Pharmaceutical, Green Gross Corporation, Hanmi Pharmaceutical, Jeil Pharmaceutical, Yuhan Corporation, Estech Pharma, Bukwang Pharmaceutical, SK Chemicals, Daewoong Pharmaceutical, Choongwae Pharma, Dong Wha Pharm., Ildong Pharmaceutical, Kwang Dong Pharmaceutical, etc.
Foreign Companies(Research Center / Manufacturing Plants)
Kimberly Clark Innovation Center Asia, sanofi-aventis, Janssen, MSD, GlaxoSmithKline, Abbott, Merck Advanced Technologies, Otsuka Pharmaceuticals, etc.
the source - http://www.invest.go.kr/content_eng/index.jsp?code=102021303
[an inquiry] Director of Information & Communication
82-31-249-2759
* This is an example of the official international blog of Gyeonggi Province.
* The Korean contents above are supposed to be translated into English, Chinese, and Japanese.
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