South Korea’s first all-around health care development plan, released in 2016, places heavy emphasis on regenerative medicine. South Korea’s regenerative medicine market is growing extremely rapidly, with annual growth rates over the next ten years expected to be in excess of 20% a year.
The regulations for stem-cell research in South Korea are less stringent than those in America or Europe, which could potentially speed development of new regenerative technologies. At the same time, there have been notable cases of stem-cell research fraud and data falsification. One of the country’s leading stem-cell researchers was both convicted of embezzlement and found to have falsified clinical data. The South Korea government is looking to boost R&D in regenerative medicine and ensure the reliability of its domestic regenerative medicine sector.