Ministry of Science and ICT Seeks Industry Collaboration to Advance Korea’s Advanced Biotechnology Sector

Ministry of Science and ICT Seeks Industry Collaboration to Advance Korea’s Advanced Biotechnology Sector

- First Vice Minister Lee Chang-yoon Holds Industry Roundtable to Explore Ways to Support Innovation and Business Activities of Advanced Biotechnology Companies

- Government and Industry Discuss Investment Directions, Plans and Goals, as Well as Measures to Help Translate Advanced Biotechnology R&D Outcomes into Commercial Applications

The Ministry of Science and ICT (MSIT), led by Minister Lee Jong-ho, announced that First Vice Minister Lee Chang-yoon held a roundtable with representatives from the advanced biotechnology industry on Friday, April 12, to discuss the government’s future support strategy for the sector.

The meeting was held as a follow-up to the 24th Public Livelihood Discussion on March 26. It aimed to gather industry input for the government’s planned “Advanced Biotechnology Initiative” and to explore policies that better connect government-supported R&D with corporate business activities and commercialization. Eight representatives from relevant industry associations and companies attended.

Participants shared their investment plans and strategic goals and discussed the types of government support needed for Korea to become a global leader in advanced biotechnology.

Industry representatives identified several key weaknesses in Korea’s advanced biotechnology ecosystem, including a shortage of specialized talent, difficulties in securing funding, and regulatory and legal constraints. To address these challenges, they proposed measures such as developing a concentrated biotechnology cluster comparable to the Boston biotech cluster, creating government-led investment funds, and easing regulations related to the Living Modified Organisms (LMO) Act.

Participants also highlighted several major areas where government support could help accelerate advanced biotechnology. These included realizing precision medicine through gene and cell therapies, fostering synthetic biology and biofoundries, advancing the diagnosis and treatment of age-related diseases such as dementia, and developing rejuvenation and reverse-aging technologies.

Additional suggestions regarding government R&D support included simplifying procedures for purchasing research equipment and adopting a more flexible approach toward failure in high-risk, high-impact R&D projects.

First Vice Minister Lee said, “Advanced biotechnology is a game-changing field that combines technologies such as artificial intelligence and robotics to overcome the limitations of conventional biotechnology. It is an area that requires focused support at the national level.”

He added, “For government R&D investment to ultimately create value, outstanding research outcomes must be transferred and disseminated to industry. We will actively reflect the views of industry in policies designed to foster Korea’s advanced biotechnology sector.”