[Why Seoul] Competitiveness of Seoul's Biotech Industry

Competitiveness of Korean Biotechnology Industry

Competitiveness of Korean Biotechnology Industry

Korea’s biotech industry is showing great potential.

In 2018, Korea's biotech industry was worth 12.2 trillion won. It has been growing continuously for the last three years at a rate of 6.6 percent per year.

The biotech and biopharma sectors in Korea are projected to grow

to $23.2 billion by 2022.

Biotechnology Industry Index in Korea

4th place in Biopharmaceutical Competitiveness & Investment(BCI) 2017

2nd place in the world for number of stem cell clinical trials

(Source: Korea Health Industry Development Institute)

50% of the world’s commercialized cell therapy products

produced in Korea

(Source: Korea Pharmaceutical and Bio-Pharma)

Biotech Industry Ecosystem in Seoul

 

31% of domestic bio companies is in Seoul

28.3% of domestic research institutes is in Seoul

45% of domestic bio industry workforce is in Seoul

(Source : Korea BIO)

Seoul ranked 1st in the world for number of clinical trials in 2018

Korean government invested $2.60 billion in the biotech sector in 2019

Seoul opened Seoul BioHub in Hongneung, a biomedical cluster for Korea and Asia

WHY SEOUL?

WHY NOT SEOUL!