Pharma MNCs call for South Korea to build 'bio cluster' to foster bio industry

21 June 2016

Multinational pharmaceutical companies last week called for South Korea's government to help build a so-called "National Bio Cluster," proposed by a local business lobby group to foster the bio industry as a new growth engine, reports China’s state news agency Xinhua.

The call was made during a press conference with foreign correspondents in Seoul by the Korean Research-based Pharmaceutical Industry Association (KRPIA), a lobby group composed of chief executives of 41 South Korean units of multinational pharmaceuticals such as Janssen Korea, AstraZeneca Korea and Sanofi-Aventis Korea.

The proposal, initially made by the Federation of Korean Industries (FKI), demanded the National Bio Cluster serve as a complex for research and development centers, bio startups, venture capitalists and prestigious universities offering talented bioengineers.

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