[Asia Economy Reporter Seo So-jeong] While the entire world is experiencing an unprecedented crisis due to the novel coronavirus disease (COVID-19) pandemic, the Republic of Korea has successfully overcome the crisis and elevated the status of 'K-Bio.' In this context, Asia Economy has established the 'K-Bio Big Data Brand Awards' to drive the global competitiveness of Korea's pharmaceutical and bio industries.
In particular, this award is significant because it derived various market evaluations of bio brands through 'big data analysis' based on news from various media outlets. To this end, Asia Economy collaborated with Sookmyung Women's University Web Development Research Center (Professor Moon Hyung-nam) and big data analysis specialist company Bflysoft to analyze big data and select the award-winning companies.
How was the analysis conducted?
The K-Bio Big Data Brand award-winning companies were selected using text mining techniques. From January 1 to October 30 of this year, articles about bio and pharmaceutical companies were collected from major domestic internet portal sites such as Naver. Then, the importance of each word was measured based on TF-IDF values to select key keywords.
TF (Total Frequency) indicates how often a specific word appears across all documents, while IDF (Inverse Document Frequency) is the inverse value of the number of documents in which a specific word appears. TF-IDF is calculated by multiplying TF and IDF values; the higher this value, the more frequently the word appears in a particular document, indicating it is a key term. After defining relationships between selected key words based on co-occurrence frequency, a keyword network analysis was conducted to understand the overall semantic structure among the key words. Based on these results, the final award-winning companies were selected.
The Minister of Health and Welfare Award was given to Samsung Biologics, the Minister of Food and Drug Safety Award to Celltrion, and the Asia Economy Representative Award to SK Bioscience and GC Green Cross, honoring their achievements. These bio and pharmaceutical companies were commonly active in overseas exports and attracted attention due to their close association with COVID-19 therapeutics. Furthermore, despite the COVID-19 situation, they increased overseas orders this year and recorded strong performance, thereby enhancing the status of K-Bio.
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