24th Public Discussion in Cheongju, Chungbuk
"Significantly Increase Digital Bio R&D Investment"
Support for K-Bio Square Development
President Yoon Suk-yeol is speaking at the 24th Public Livelihood Discussion Forum held under the theme "Standing at the Center of Advanced Bio, Chungbuk" on the 26th at Dongbu Warehouse, Cheongwon-gu, Cheongju-si, Chungbuk. [Image source=Yonhap News]
President Yoon Suk-yeol stated on the 26th, "We must significantly increase investment in digital bio sectors such as new drug development using artificial intelligence (AI), digital therapeutics, and AI-robot integrated advanced medical devices," adding, "The government will generously support challenging and innovative research." The goal is to expand the bio industry production scale and usher in the '200 trillion won era by 2035.'
That afternoon, President Yoon held the 24th Public Discussion Forum under the theme "Standing at the Center of Advanced Bio, Chungbuk" at Dongbu Warehouse in Cheongju, Chungbuk, and announced plans to develop Chungbuk into a leading base for the advanced bio industry.
President Yoon said, "The global advanced bio market size is expected to expand from 2 trillion dollars in 2021 to 4 trillion dollars (approximately 5200 trillion won) by 2035," and added, "While it is anticipated that the advanced bio market will double in size within the next 10 years, in my view, it will grow tremendously." He explained that as advanced countries compete to secure the advanced bio market, we must accelerate our efforts to leap forward in the advanced bio industry, which holds infinite opportunities and an enormous market.
In particular, President Yoon emphasized that although traditional bio technologies have been dominated by a few Western advanced countries, a major transformation is underway with the convergence of AI and digital technologies into advanced bio, opening a great opportunity for Korea. Korea possesses world-class talent and high-quality medical data, and has rapidly transformed into a digital powerhouse with advanced technology and experience. By effectively integrating these with the bio capabilities developed so far, Korea can confidently leap forward as a first mover leading the advanced bio era.
He also presented the direction of the national strategy for advancing into a leading advanced bio powerhouse, the "Advanced Bio Initiative." First, the government plans to significantly increase research and development (R&D) investment in the 'digital bio' sector, including AI-based new drug development and digital therapeutics. President Yoon stated, "The success of advanced bio depends on collecting and utilizing high-quality bio data," and added, "We will create a bio data platform that links various bio data systems to provide services that researchers in industry, academia, research institutes, and hospitals want and need."
President Yoon Suk-yeol is speaking at the 24th Public Discussion on Livelihoods held under the theme "Standing at the Center of Advanced Bio, Chungbuk" on the 26th at Dongbu Warehouse, Cheongwon-gu, Cheongju-si, Chungbuk. [Image source=Yonhap News]
Furthermore, based on advanced bio technology, plans are in place to improve the quality of life for citizens and expand welfare. President Yoon said, "We will open a digital mental health era that treats not only general health management but also conditions such as anxiety and insomnia through software," emphasizing, "In particular, through brain research, we will find treatments for mental illnesses experienced by modern people, such as panic disorder and bipolar disorder, and develop neuromorphic chips that mimic brain principles to lead innovation in AI semiconductors." With personalized precision medicine becoming possible through gene therapy and cell therapy, the plan is to develop high value-added innovative bio pharmaceuticals to treat intractable diseases and maximize treatment effects for individual patients.
Additionally, the petrochemical-based materials industry will be transformed into a bio-based industry to drive innovation and competitiveness in other industries and to address common global challenges such as climate change, food shortages, and infectious diseases through advanced bio. President Yoon emphasized, "We will open the 200 trillion won era by 2035, up from the bio industry production scale of about 43 trillion won in 2020."
Chungbuk will be developed as a leading base for the advanced bio industry. President Yoon said, "We will support the establishment of KAIST Osong Campus and the creation of K-Bio Square, where universities, research institutes, bio companies, as well as business support service companies such as legal, financial, and accounting firms will be located," expecting, "This will generate about 2.1 trillion won in added value and create approximately 29,000 jobs." He continued, "Securing convergent talents is most important for AI and bio convergence," and added, "We will establish an AI Bio Science Gifted School in Osong, Chungbuk, and nurture customized talents needed for Chungbuk’s future specialized industries in connection with KAIST Osong Campus."
To further expand the advanced bio industry, support will also be provided for the localization of bio materials, parts, and equipment currently dependent on overseas sources. President Yoon stated, "To truly grow into an advanced bio cluster, the development of advanced bio pharmaceuticals and bio materials, parts, and equipment must be supported together," and added, "The government will actively support R&D, demonstration, testing, and commercialization projects of advanced bio materials, parts, and equipment companies to back private investment."
President Yoon also mentioned expanding Chungbuk’s tourism and transportation infrastructure, including plans to develop the 'East-West Trail' as a hub for forest trails nationwide, develop and revitalize tourism resources using the 'Regional Revitalization Investment Fund,' and expand transportation infrastructure centered on Cheongju Airport.
The event was attended by about 100 citizens including university students, researchers, and businesspeople such as Choi Seok-won, Vice President of LG Energy Solution; Choi Won-woo, CEO of Cutis Bio; and Choi Won-seok, Secretary General of the Songnisan Dullegil. From the government and local governments, Woo Dong-gi, Chairman of the Local Era Committee; Kim Young-hwan, Governor of Chungcheongbuk-do; and Lee Chang-yoon, 1st Vice Minister of the Ministry of Science and ICT participated. From the Presidential Office, Sung Tae-yoon, Chief of Policy Office; Jang Sang-yoon, Senior Secretary for Social Affairs; and Park Sang-wook, Senior Secretary for Science and Technology also attended.
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