During the Bio Korea 2016 International Convention in March this year, the South Korean government announced that it would begin to actively support the country’s biotechnology industry. According to The Korea Herald, Prime Minister Hwang Kyo-ahn announced Seoul’s plans to facilitate the growth of new biotechnologies and businesses by eliminating unfavorable policies while improving financial regulations. Seoul will also look to foster the growth of local start-up companies that have the potential to grow and expand internationally.
