Pointing to the 'Boston Cluster'... "So that ventures and youth can lead"
Mention of the pending 'Digital Healthcare Act' in the National Assembly... "Expecting prompt processing"
Ministry of Health plans to create new drugs with over 1 trillion won in sales... Training 110,000 talents
President Yoon Suk-yeol stated on the 28th, "We will develop the biohealth industry into the second semiconductor industry." With the global market size of the biohealth sector reaching 2,600 trillion won, the strategy is to make it a new export engine and create high-quality jobs. President Yoon pointed to the 'Boston Cluster,' the U.S. bio-ecosystem centered around universities and hospitals where talent, investment, and companies converge, as a model.
On the morning of the same day, President Yoon presided over the 'Biohealth New Market Creation Strategy Meeting' at the Blue House State Guest House, saying, "We must focus investment on transforming medical, health, and care services into a digital-based system to secure a leading position in the global market."
President Yoon Suk-yeol is speaking at the Biohealth New Market Creation Strategy Meeting held at the Blue House's Yeongbingwan on the 28th. [Photo by Yonhap News]
In particular, President Yoon promised to establish a Korean version of the 'Boston Cluster.' Currently, Boston hosts prestigious universities in the life sciences field, large hospitals, startups, and global pharmaceutical companies. Centered on universities supplying talent, hospitals conducting clinical research, and companies commercializing these efforts, a self-sustaining bio-ecosystem has been formed. President Yoon emphasized, "We will actively consider establishing a Korean version of the Boston Cluster so that venture companies and young people can challenge and lead the biohealth sector."
He also mentioned institutional improvements for data utilization. President Yoon said, "We will revise regulations to ensure the biohealth industry remains competitive through data utilization," adding, "We expect the prompt passage of the Digital Healthcare Act pending in the National Assembly to protect privacy by pseudonymizing and de-identifying sensitive personal information while enhancing the competitiveness of the biohealth industry."
The government plans to overcome the export crisis by focusing on nurturing the biohealth industry. President Yoon believes that by combining Korea's world-class medical technology with IT technology, the digital healthcare market can be secured. He explained, "This holds infinite potential to create many good jobs."
In line with this, the Ministry of Health and Welfare reported detailed strategies to President Yoon. The core points include ▲innovation in medical, health, and care services ▲activation of biohealth industry exports ▲strengthening research and development of advanced convergence technologies ▲enhancing training of biohealth professionals and support for startups ▲establishing legal and institutional infrastructure.
First, the main project of the so-called 'Health Information Expressway,' an infrastructure that provides dispersed personal health information to individuals and medical staff in a standardized form, will begin operation in June. The plan also includes creating more than two blockbuster new drugs with annual sales exceeding 1 trillion won within five years and doubling medical device exports to become the world's fifth-largest exporting country. It also involves the rapid development of next-generation antibody drugs using data and artificial intelligence and training 110,000 customized talents.
President Yoon reiterated, "It is an important role of the government to proactively support the nation's future food sources and growth engines," adding, "We must establish a pan-government governance system to ensure smooth public-private cooperation."
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