Global biotech exhibition kicks off in Seoul

A global biotechnology exhibition opened in Seoul on Wednesday with the aim of helping local businesses make inroads into the global market, officials said. The Bioplus-International Pharmaceutical and Manufacturing Expo Korea kicked off in Seoul for a three-day run, inviting 250 businesses from 15 countries, including Samsung Biologics Co. and Switzerland-based Lonza Group, according to the Ministry of Trade, Industry and Energy. "The biotechnology sector is a new growth engine comparable to the semiconductor industry," First Vice Industry Minister Kang Kyung-sung said in a congratulatory message. "The government will also seek to support private investment in the bio industry worth 36.3 trillion won (US$26.2 billion) by designating industrial zones for the sector," he added. During the event, businesses from all stages of the industry's value chain are expected to share the latest trends in technology and the market while exploring potential partnerships, the ministry added. Source: Yonhap News Agenc y