President Moon: "Biopharmaceutical Industry, Humanity's Hope... 2.2 Trillion Won Investment Over 5 Years"

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] President Moon Jae-in stated that the biopharmaceutical industry is humanity's hope in combating COVID-19 and expressed his intention to invest 2.2 trillion won over five years in vaccine production.

On the afternoon of the 13th, President Moon delivered a video congratulatory message at the '7th Global Bio Conference' held online, saying, "Through remarkable technological innovation, the vaccine development period, which usually took more than 10 years, has been shortened to one-tenth, and various types of vaccines and therapeutics have been developed."

President Moon praised, "The COVID genome information was decoded and promptly shared by all countries, and global pharmaceutical companies, venture firms, universities, and research institutes combined financial resources and ideas to jointly develop vaccines. This was possible because bio experts and entrepreneurs worldwide cooperated closely beyond borders."

He emphasized, "Korea is also contributing to vaccine supply by contract manufacturing four types of vaccines. Over the next five years, we will invest 2.2 trillion won to dramatically increase vaccine production capacity and contribute more actively to overcoming COVID-19."

President Moon forecasted, "Cooperation beyond boundaries and open innovation have strengthened the biopharmaceutical industry. If we firmly establish a collaboration system among industry, academia, and research and expand the horizon of cooperation to new industries such as artificial intelligence and big data, the biopharmaceutical industry will leap to a higher level."

The conference, which will be held over three days starting today, will feature various discussions on advanced technology development such as COVID vaccines and therapeutics, as well as regulatory reform measures.

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