Bio Industry
The total investment cost of bio industry companies in 2019 was KRW 7.987.9 billion, The total investment in the bio-industry sector was KRW 2.586.4 billion, accounting for 32.3% of the total investment.
The total pharmaceutical production in 2019 was about US$19.2 billion (KRW 22.31 trillion) and over the past 5 years the average annual growth rate was 7.1%.
Over the past five years, the amount of manpower in the Bio Industry has been continuously increasing by 5.1%.
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Seoul's Bio Ecosystem
21.9% of national biomedical businesses are located in Seoul.
As Bio R&D occupies a relatively large proportion, Seoul is characterized as an R&D center.
Clinical Trial
Korea recorded a global ranking of more than a dozen developments due to the government's support for strengthening new drug development capabilities and conducting rapid clinical trials.
