[Public Voices] Four Key Tasks for a Major Leap in the Biohealth Industry

Yang Sung-il, Former Vice Minister of Health and Welfare
Fostering Talent and Creating R&D Funds
Opening Data and Improving Regulations

Over the past two years, the world has been struggling with COVID-19. Countries are making every effort to overcome the infectious disease crisis, and the importance of the biohealth industry for vaccine and pharmaceutical development is growing. The biohealth industry is a growth sector expected to expand from approximately $1.2 trillion in 2020 to over $1.6 trillion by 2026. It is a cutting-edge future industry where artificial intelligence (AI) and data technology convergence are advancing. It serves as a social safety net that protects the health and lives of the people from future diseases.

Advanced countries such as the United States and the European Union (EU) are leading bold financial investments and innovations. The U.S. has promoted the development of personalized therapeutics and supported rapid COVID-19 vaccine development with $10 billion. The United Kingdom plans to build a genomic big data set covering 5 million people. South Korea has also achieved results through steady public-private investments. In the first half of this year, exports increased by 20.2% to about $9.3 billion, and the number of workers in the first quarter rose by 37,000 to 990,000. Additionally, as of July this year, South Korea has developed a total of 34 new drug items and is on the verge of producing a domestically made COVID-19 vaccine. It has the world’s second-largest bio-pharmaceutical production capacity and has emerged as the world’s third-largest cosmetics exporter. It was also designated as the 'WHO Global Bio Workforce Training Hub,' educating young people worldwide on vaccine and biopharmaceutical production processes.

As a core industry for health security with sufficient potential capabilities, the biohealth industry needs special attention and support to lead the world and grow as a future key industry. Based on past achievements, I would like to propose measures for a great leap forward in the promising biohealth industry.

First, secure on-site personnel necessary for companies and advanced research. Support medical science talents and cultivate convergence-type talents in the medical (醫), engineering (工), and life sciences (生) fields according to technology and trends. Transform research-oriented hospitals into platforms for sharing creative ideas.

Second, provide bold government research and development (R&D) support and establish large-scale funds. Strategically invest so that the private sector can support beyond early clinical trials to the final phase 3. It is timely for the government to support blockbuster new drug pipeline development and establish a fund of 500 billion KRW.

Third, enable transparent and open use of data. Operate health information so that individuals can easily use it for their own health management. Open big data accumulated in public institutions for scientific research and other purposes. Also, build infrastructure to utilize clinical big data dispersed across individual medical institutions.

Fourth, promote regulatory innovation that harmoniously satisfies public health and industry demands. Improve procedures so that innovative digital healthcare medical devices can be used in medical settings. Support software medical devices to verify their technical feasibility through demonstrations in medical institutions. Introduce a new system specialized in the biohealth field within the existing regulatory sandbox to quickly verify regulatory effectiveness.

To smoothly operate the four-wheel chariot of talent cultivation, financial investment, data utilization, and regulatory improvement, active will and communication among the participating entities?industry, medical, research, and government (産醫硏官)?are crucial. Let the private sector demonstrate creativity and passion, collaborate through 'open innovation,' and grow together. The government should consistently support so that the private sector can be the main agent of innovation. Operate a cross-ministerial committee to review nurturing plans, set priorities, and execute them with speed.

/ Yang Sung-il, Former Vice Minister of Health and Welfare