South Korea Establishes Technology Hub in Boston, the World's Largest Bio Market
The South Korean government has established its first science and technology hub in Boston, the world's largest center for the bio-industry. The opening of this hub is a strategic decision to promote Korea's excellent bio-technology to the global market and to strengthen cooperation with local advanced technologies.
Boston is a core region for the bio-industry, where world-class pharmaceutical companies, research institutes, and universities are concentrated. Using this as a foothold, the Korean government plans to actively support domestic bio-companies in entering the U.S. market and expanding their global networks.
The newly opened hub center will provide local market information to Korean companies and assist with investment attraction and technology exchange. In particular, it is expected to be a great help for Korean bio-startups to conduct joint research with global companies or export their technologies.
Starting with this Boston hub, the government plans to build cooperative systems with more countries in the future. Much attention is being focused on whether Korea's bio-industry can enhance its competitiveness in the global market and grow into a global bio-powerhouse.