Rep. Han Ji-a, a member of the National Assembly's Health and Welfare Committee, emphasized the need for institutional support to enhance the global competitiveness of the K-Bio sector as the pharmaceutical and biotech industries undergo rapid restructuring due to the spread of artificial intelligence (AI) technology.
Speaking at the 16th Global Healthcare Forum hosted by Aju Economy at the Korea Press Center in Jung-gu, Seoul, on May 14, Han stated, "AI is bringing revolutionary changes across various industrial structures beyond daily life. The pharmaceutical and biotech industries are also experiencing unprecedented changes in their structures, from research and development (R&D) to clinical trials, production, and distribution, through the integration of AI technology."
He noted, "The global pharmaceutical and biotech market is growing at a pace that significantly exceeds that of the global semiconductor market. Following the COVID-19 pandemic, the importance of stabilizing the pharmaceutical supply chain has increased, making technological competitiveness and supply chain leadership critical issues that determine national competitiveness."
Han added, "The market is rapidly shifting from simple technological competition to a race to establish stable production capabilities and supply chains. In this context, I find it very meaningful that the forum is being held under the theme 'AI Revolution: Global Value Chain Strategy for K-Bio.'"
He particularly highlighted the growth potential of the Contract Development and Manufacturing Organization (CDMO) industry, forecasting that the global CDMO market size will expand from approximately 25 trillion won in 2024 to about 60 trillion won by 2029. He assessed that South Korea possesses sufficient potential based on its world-class manufacturing capabilities and excellent R&D competitiveness.
As a member of the Health and Welfare Committee, Han expressed a deep awareness of the importance of the pharmaceutical and biotech industries, stating, "I have introduced a special law to support CDMO to strengthen the competitiveness of domestic biopharmaceutical production, which has successfully passed through the plenary session."
In conclusion, he stated, "I will continue to do my best to provide institutional support, such as R&D assistance and regulatory easing, so that our companies can secure competitiveness in a more stable and market-friendly environment amid intensifying global competition."
* This article has been translated by AI.
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