“U.S. Bio Initiative, New Growth Opportunities for Korea… Government Support Can’t Be Late”

Korea Bio Association Issue Briefing
U.S. aid plan likely to affect
Global bio-competition… Need expedited assistance

US President Joe Biden. [이미지출처=EPA연합뉴스]

湲 蹂肄

[아시아경제 이관주 기자] Amid growing concerns as the US government emphasized research and manufacturing in the US in the bio industry following semiconductors and electric vehicles, it was diagnosed that new growth opportunities could be opened for Korean bio companies. However, it is pointed out that prompt government support and countermeasures are needed as countries are fiercely competing for hegemony in biotechnology.

On the 14th, the Bioeconomic Research Center of the Korea Biotechnology Association analyzed the details and future impact of this initiative through the ‘US Biotechnology and Biomanufacturing Initiative’ issue briefing report.

First, the report said that the main background of this initiative is the rapid growth of Chinese biotechnology and the Chinese government’s policy to promote the bioeconomy. China is the world’s second-largest bio market after the United States, and has already surpassed the United States in the number of clinical trial registrations for anticancer immune cell therapy (CAR-T) and gene scissors technology (CRISPR). more active In particular, in May, when the Chinese government announced the first five-year bioeconomy plan, it declared aggressive investment.

It is difficult to predict the impact on Korea as the specific plans of this initiative have not yet been announced, but it is necessary to carefully examine how the US plans to support ‘strengthening biomanufacturing capacity’ and ‘expanding mandatory purchase of bio-based products’. The report emphasized that there is According to the report, “depending on conditions such as the level of tax benefits or incentives to support the establishment and revitalization of bio-manufacturing infrastructure in the United States, and whether or not to use target products and foreign raw materials when purchasing bio-based products, export to the United States or advance into the United States may be restricted,” the report said. “Companies that are seeking or competing with U.S. companies abroad could be affected.”

Nevertheless, he predicted that this initiative could be a place of opportunity for Korean companies. “If the strength of our company can be utilized and our participation as an ally can be expanded in the process of the U.S. developing new biotechnology, expanding bio-manufacturing infrastructure, and expanding the purchase of bio-based products, new growth opportunities will come to us,” the report said. will,” he emphasized.

At the same time, they demanded that the government prepare countermeasures and support measures. The report says “China and the US successively By announcing full investment and support for the economy, advanced countries such as Europe and Japan are also expected to review investment expansion. will,” he feared.

Reporter Lee Kwan-ju [email protected]

Source: 아시아경제신문 실시간 속보 by www.asiae.co.kr.

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