On May 28, Marn-Ki Jeong, a consultant, and senior foreign attorney Bernard K. Ham, along with senior attorney Peter Seung-Hun Lee, attended the 51st Industrial Development Forum, jointly hosted by the Korea Bio Association and the Korea Industry Alliance Forum. They discussed "Measures to Create an Ecosystem for Supporting the Growth of Bio Companies," focusing on the promotion of listings and M&As of bio companies and the policy support needed from the government and related organizations.

Marn-Ki Jeong, a consultant (Chairman of the Korea Industry Alliance Forum), emphasized, "The bio industry, especially the biopharmaceutical industry, can grow into the next semiconductor industry as a future growth engine. In particular, the contract manufacturing sector has secured the world's second-largest manufacturing capability, making it possible to secure global competitiveness and expand the market in the fields of contract manufacturing (CMO) and biosimilars." He added, "If the measures discussed today, such as facilitating the technological listing and M&A of bio companies, are implemented, it will provide bio venture companies with opportunities to recover investments, thereby revitalizing the investment ecosystem."

Senior foreign attorney Bernard K. Ham remarked, "The bio industry can expect at least 50 new drugs and more than 60 trillion won in revenue over the next 10 years due to AI. However, regulatory authorities are starting to regulate AI-related risks, so countermeasures must be prepared for this."

Source: Korea Bio Association and Korea Industry Alliance Forum Jointly Host Industrial Development Forum

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