Bo-eun leads the digital content team. She has covered foreign affairs, North Korea, tech, economy and gender issues at The Korea Times. She did a short stint at the South China Morning Post in Hong Kong, where she obtained a new perspective on news production and life. Small sources of joy for her are lounging in the sun, having a good latte and swimming.
BIO WEBINAR Korean gov't vows full support for bolstering bio industry
Park Jae-young, left, director general of the manufacturing industry department at the Ministry of Trade, Industry and Energy, and Meritz Securities analyst Kim Ji-ha listen to panelists during The Korea Times' first Bio Webinar held Friday. Korea Times photo by Shim Hyun-chul
By Kim Bo-eun
Korea Times webinar addresses tasks to foster personnel, secure raw materials
By Kim Bo-eun
The government affirmed its pledge with major bio companies to foster human resources and secure raw materials for pharmaceuticals, as well as expand the manufacturing base here, in comments made at The Korea Times' Bio Webinar held Friday. This was the first such event held by the English-language daily, organized to discuss means to enhance the competitiveness of the local bio industry amid the COVID-19 pandemic.
Park Jae-young, director general of the manufacturing industry department at the Ministry of Trade, Industry and Energy, took part as a government representative, and executives of the country's four major bio companies ― Samsung Biologics, SK Bioscience, LG Chem and Celltrion ― voiced the needs of the private sector.
Samsung Biologics Vice President and head of contract development organization (CDO) business Ahn Yong-ho, SK Bioscience head of strategic planning division Lee Sang-mok, LG Chem Senior Vice President and head of specialty care division Yoon Soo-hee and Celltrion Vice President Lee Soo-young participated in the discussion. The webinar was moderated by Meritz Securities analyst Kim Ji-ha.
A laptop monitor shows the participants of The Korea Times' Bio Webinar. Clockwise from top left, they are Samsung Biologics Vice President and head of CDO business Ahn Yong-ho, SK Bioscience head of strategic planning division Lee Sang-mok, Celltrion Vice President Lee Soo-young and LG Chem Senior Vice President and head of specialty care division Yoon Soo-hee. Korea Times photo by Shim Hyun-chul
Park of the trade ministry vowed support for the bio industry in all phases of development.
“Despite difficult circumstances, we saw annual exports of the bio industry exceed $10 billion for the first time last year,” he said. “News of major contract manufacturing deals and technological transfers proves the growth of the bio industry. We, as the government, will provide assistance throughout the developmental stages of the bio industry.”
The lack of competent human resources as well as difficulties in securing raw materials for pharmaceuticals have been cited by the private sector as challenges to further growth.
“We are in need of talent in the entirety of stages including commercializing newly developed drugs and producing them,” SK Bioscience's Lee said. “Firms developing new drugs are emerging and a lot of attention needs to be paid to the bioprocesses enabling these to be commercialized and mass-produced.”
LG Chem's Yoon said, “Because it is difficult for skills to be developed over a short period of time, we are also seeking to attract competent human resources from overseas.”
The government launched a project last year to set up a center akin to Ireland's National Institute for Bioprocessing Research and Training. The Incheon Metropolitan City―Yonsei University consortium has been selected for the project.
“When the training center opens in 2024, it is set to produce 2,000 trained individuals on an annual basis. We will begin training programs under a pilot project this year,” Park said.
Park Jae-young, left, director general of the manufacturing industry department at the Ministry of Trade, Industry and Energy, speaks during The Korea Times' Bio Webinar, at the Korea Times building in central Seoul, Friday. Korea Times photo by Shim Hyun-chul
But securing pharmaceutical ingredients also looms as a key task.
“It is a fact that we depend on imports when it comes to raw materials,” SK Bioscience's Lee said. “Raw materials in the bio sector require government approval, so there is a greater need for medium- to long-term plans when comparing this to other industries.”
The government's long-term plan is to localize the production of such materials. The trade ministry and private sector launched a consultative body last September for this purpose. The government plans to pour 85 billion won into helping companies in the bio sector localize parts, materials and equipment.
“This will not be easy to achieve in the short term, given the dominance of the U.S. and European countries over the market. We are seeking to provide support to foster local competitiveness in producing materials and also seeking to attract global firms in the sector to Korea,” Park said.
Finally, the panelists also reiterated the need to expand production bases for global suppliers here.
“If our capabilities in contract manufacturing are strengthened, we will be able to take swifter action if another pandemic emerges. The production facilities can also serve as a base for developing new drugs,” Park said.
“We plan to secure clients seeking to build production bases here, by providing tax incentives and the like.”
In his opening remark, Korea Times President-Publisher Oh Young-jin said, “The bio industry is like that of the next-generation semiconductor, which Korea cannot afford to lose out on, considering local firms' strength in manufacturing. Given the emergence and spread of COVID-19 variants, capabilities in vaccine production will be key in countries' dealing with the pandemic.”