Lee Jae-myung: "Biohealth Industry to Become the 'Big 3' Following Semiconductors and Automobiles... Global Industry Transformation"

"Public-Private Joint Mega Fund for New Drug Development Expanded to 2 Trillion Won"
"Training 10,000 Biohealth Specialists"

[Asia Economy Reporter Oh Ju-yeon] On the 22nd, Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, stated, "We will transform the biohealth industry from a follower industry into a leading industry and make it a core growth engine for the future," pledging to develop it into one of South Korea's Big 3 industries following semiconductors and automobiles.

Lee Jae-myung, the Democratic Party presidential candidate, is preparing for the debate at the first debate hosted by the National Election Commission held at MBC in Mapo-gu, Seoul on the 21st. Photo by the National Assembly Press Photographers Group

On the same day, Yoon Hu-deok, head of the policy headquarters of the Democratic Party's presidential campaign committee, held a press conference at the Yeouido party office and announced the "Five Major Promises for the Biohealth Industry," which included these plans.

First, to transform the biohealth industry into a global industry, they plan to enact the "Special Act on the Development of the Biohealth Industry" and expedite securing production capacity and technological capabilities for domestic development of vaccines and treatments for new infectious diseases, promoting entry into the global market through regulatory internationalization for health and security. Additionally, they aim to reorganize the national integrated bio big data project, which involves 1 million people, focusing on building infrastructure to utilize health information data. They also pledged to foster 10,000 specialized personnel annually, expand the public-private joint mega fund to 2 trillion won for new drug development, and increase R&D budgets in the biohealth sector to create a biohealth industry ecosystem and activate corporate investment.

Candidate Lee emphasized, "The biohealth industry is not only a core industry of the future but also an industry that protects the nation from health security threats and enhances the health, safety, and quality of life of the people," adding, "We will secure technological capabilities and production capacity for vaccine and treatment development amid the prolonged pandemic situation." He continued, "We will do our best to establish the biohealth industry as South Korea's Big 3 industry following semiconductors and automobiles," promising, "We will boldly invest and support so that South Korea can leap forward as a global leader in the biohealth industry."

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