SEOUL - The Bioplus-International Pharmaceutical and Manufacturing Expo Korea opened in Seoul on Wednesday, aiming to foster global market opportunities for local biotech firms.
According to Yonhap News Agency, Industry and Energy, the three-day event features 250 companies from 15 countries, including major players like Samsung Biologics Co. and Switzerland’s Lonza Group. First Vice Industry Minister Kang Kyung-sung highlighted the biotechnology sector's potential as a new growth engine for the economy, likened to the impact of the semiconductor industry. The government has announced plans to support private investment in the bio industry, targeting a fund of 36.3 trillion won (US$26.2 billion) and establishing dedicated industrial zones to stimulate development. The expo is set to facilitate exchanges on the latest technological advancements and market trends, providing a platform for potential partnerships across the industry's value chain.