Jeonnam Province Accelerates Development as a Hub for Advanced Precision Medical Industry

Ministry of Trade, Industry and Energy Selected for 'Advanced Precision Medical Industrialization Platform Construction' Public Contest Project

[Muan=Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] The creation of an ‘Advanced Precision Medical Industry Hub’ by Jeonnam Province and Hwasun Jeonnam National University Hospital has gained momentum.

Jeonnam Province announced on the 23rd that it has been selected for the ‘Advanced Precision Medical Industrialization Platform Construction’ project, a contest supported by the Ministry of Trade, Industry and Energy with a budget of 15 billion KRW to foster the advanced precision medical industry.

The ‘Advanced Precision Medical Industrialization Platform Construction’ is a project planned by Jeonnam Province and Hwasun Jeonnam National University Hospital.

Recognizing the necessity of establishing a national hub for precision medicine centered on the Hwasun Vaccine Industrial Complex, which has full-cycle infrastructure for precision medicine including anticancer new drug and immune cell therapy research and development, preclinical and clinical trials, production, and regulatory approval, they persistently persuaded the government to reflect this in the government project.

Precision medical technology is a medical service that provides optimal diagnosis and treatment methods from diagnosis to treatment, prediction, and prevention of diseases based on the unique genomic information of each patient.

The global market size reaches 70 trillion KRW annually, and it is a field expected to grow more than 15% each year.

With the confirmation of Jeonnam’s hosting, it is expected to accelerate the realization of ‘Blue Bio Jeonnam’ envisioned by the 7th local government of Jeonnam and the establishment of the ‘National Advanced Medical Complex.’

Jeonnam Province will receive 10 billion KRW in national funding over three years from this year until 2023. To ensure smooth project progress, Jeonnam Province and Hwasun Jeonnam National University Hospital plan to invest 2 billion KRW and 3 billion KRW respectively for the construction of necessary facilities and equipment.

The Advanced Precision Medical Industrialization Support Platform Construction project is one of the key focus areas of government policy aimed at realizing a strong health and medical nation.

As society enters an aging population phase, this project collects and analyzes healthcare big data dispersed across major public health institutions to treat cancer, intractable diseases, and other emerging issues, allowing medical staff and bio-medical companies to access the analysis results.

The main project contents include establishing a foundation for advanced precision medical industrialization support, AI cloud-based analysis support, full-cycle clinical trial support including testing and evaluation, training of high-level personnel in the precision medical field, and fostering companies in the precision medical sector.

Ultimately, it aims to create a one-stop precision medical industrial ecosystem.

In particular, Jeonnam Technopark participates in the project to foster companies and create an industrial ecosystem, which can be somewhat challenging for public medical institutions like hospitals to carry out.

Joo Soon-seon, Director of the Strategic Industry Bureau of Jeonnam Province, said, “We can accelerate the attraction of the advanced medical complex, which is Jeonnam’s aspiration,” adding, “We will develop Hwasun as a hub for the vaccine industry as well as the precision medical industry.”

Meanwhile, Jeonnam Province plans to actively cooperate to ensure smooth progress of the project, including the construction of related facilities and equipment within Hwasun Jeonnam National University Hospital, as soon as the agreement with the dedicated agency, Korea Institute for Advancement of Technology, is concluded later this month.

This content was produced with the assistance of AI translation services.