Abstract
Increasing Need for Commercialization of Research Outcomes
The development of the biotechnology industry calls for the research output
of universities and academic institutes to be identified, patented, and
commercialized into successful products and technologies. Commercialization of
research requires strong links between the industrial and academic world
enabling transfer of knowledge, technology, and human resources. South Korea has
not had a history of such interaction, primarily because researchers valued
positions in universities and research labs more than those in industry.
However, it is becoming increasingly clear that a platform for meaningful
interface is needed whereby the industry or private participants concentrate on
commercialization and the universities provide the research focus.
This new research from Frost & Sullivan is a detailed study of the South
Korean biotech markets with an overview of the global as well as the Asia
Pacific markets. It discusses major sectors of activity and key factors driving
the market and offers competitive positioning strategies.
Strong Government Support with High Investments and Promotional Policies
"Government initiatives such as introducing favorable policies and
promoting start-ups with support for R&D activities have placed the South
Korean biotechnology industry among the fastest growing biotech hubs," says
the analyst of this research. Having identified this industry as a significant
driver of future economic growth, the South Korean Government has committed
substantial resources to its development and implemented various programs such
as "Biotech 2000" and "Vision 2025."
The research infrastructure was also strengthened with numerous institutions
set up such as Korea Research Institute for Biosciences and Biotechnology (KRIBB),
and Korea Advanced Institute of Science and Technology (KAIST). Several other
government-aided academic institutions are carrying out work in basic research
and various fields of biotechnology. This government support has started showing
results by attracting more investments from private participants, helping
smaller start-ups obtain initial financial support, and encouraging
industrial-academic collaboration to commercialize research output.
Agricultural and Environmental Biotechnology Sectors Expected to Witness
Growth
"Industrialization and urbanization in South Korea, leading to increased
population and higher pollution levels, have opened up new opportunities in
agricultural and environmental biotechnology," says the analyst.
Developments in plant biotechnology using tissue culture, recombinant DNA
technology, and cell culture have met with immense success. Other commercial
successes such as the mass production of virus-resistant crops using recombinant
DNA technology have boosted the agbiotech sector in South Korea.
Environmental biotechnology is also gaining prominence as a high-potential
niche for this industry. Promising areas in this segment include the treatment
of solid wastes, exhaust gas, and the cleansing and conservation of air, water,
and soil. Bioremediation is another emerging area that biotech companies can
focus on.
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