Sales of Japanese semiconductor manufacturing devices are expected to exceed 4 trillion yen for the first time this year.
According to foreign media such as Nikkei, the Japan Semiconductor Manufacturing Equipment Association (SEFA) announced on the 7th (local time) that sales of semiconductor manufacturing devices in Japan will reach 4.283 trillion yen this year, up 17% from last year. This is the third consecutive year of increase, and the figure has been revised upward from the forecast of 3.55 trillion yen as of January this year.
SEFA predicted that active investment in logic and foundation, which has continued since 2019, will expand further after 22 years. He pointed out that investment is expected to increase not only in terms of increasing quantitative demand, but also in terms of evolution of performance and increasing the proportion of data centers and servers. “Semiconductors are becoming a major issue at the national level,” said Ushita Kazuo, chairman of SEFA. “It is clear that semiconductors will gradually become important and both quality and quantity will increase.” Regarding the shortage of semiconductors, Chairman Ushida expressed his perception that although the timing of resolution was not clear, it will continue for the time being.He also forecast a combined sales forecast for next year of 4.2297 trillion yen, up 5 percent from last January’s estimate. It is predicted that the forecast will increase by 5% to 4.4412 trillion yen in 2024, when the first forecast is presentedOn the 11th, the National Assembly passed the Economic Security Act, which aims to strengthen the semiconductor supply chain and develop and protect high-tech technologies. It will be implemented in phases starting next spring.According to Kyodo News, Japan’s economic security law focuses on strengthening the supply chain of important goods such as △ semiconductors △ preliminary screening of infrastructure industries in preparation for cyber attacks △ public-private cooperation for advanced technology R&D △ patent disclosure.While digitalization has been accelerated due to the lockdown measures that emerged as COVID-19 spread around the world, semiconductor supply shortages continue due to supply chain disruptions caused by the invasion of Ukraine. The growing awareness of the need to respond to the climate crisis and the active transition to electric vehicles and eco-friendly energy also suggests that demand for semiconductors will continue to increase in the future. In particular, Japan is making every effort to secure semiconductors. Until the late 1980s, Japan had invested generously in semiconductor production, overtaking the United States for more than half of its global market share. However, as the trade conflict with the U.S. intensified, Japan eventually handed over its share of the semiconductor market to South Korea, Taiwan, and China. As of 2019, Japan’s share of semiconductors fell to around 10%.
In a release on the semiconductor strategy released by Japan’s Ministry of Economy, Trade and Industry in June last year, the Japanese government issued a stern warning, saying, “Japan’s share could fall to almost 0% in the next 2030.” The remarks suggest that a sense of crisis is also rising within the government.”The semiconductor strategy is completely different from the general industrial policy of enhancing the competitiveness of domestic companies to earn foreign currency,” Kazumi Nishikawa, an official at the IT industry division, told the Financial Times. He added, “The biggest challenge is to form a consensus among people (on the importance of securing semiconductors) and to let people know that this is not entirely up to the private sector.”As a result, the Japanese government is trying to secure semiconductors through subsidies and external cooperation. In November last year, Japan succeeded in attracting TSMC, Taiwan’s No. 1 foundry company, to secure semiconductor production capacity. Instead of building a semiconductor production plant in Kumamoto Prefecture, Japan, it will provide about half of the total investment of 800 billion yen (about 7.96 trillion won).Taiwan’s TSMC announced that it will jointly build a semiconductor plant with Sony in Japan and start production in December 2024. However, there are criticisms in Japan that TSMC plants, which were attracted by giving large subsidies, have not applied the latest semiconductor technology. Semiconductors are advantageous in increasing performance because the thinner the line width of the circuit, the more devices can be integrated.Nikkei Asia noted that the circuit width of the semiconductor that the TSMC Kumamoto plant will focus on is 22 nanometers (nm, 1 billionth of a meter) or 28nm, far behind the latest 5nm process. However, 22nm and 28nm semiconductors are in high demand because they are used in various devices, including automobiles, and explained that they are a cost-effective option. After securing production facilities, Japan joined hands with the U.S. to develop advanced semiconductors. Through cooperation with the U.S., the company aims to take the lead again in developing and mass-producing advanced semiconductors that lag behind Korea and Taiwan.Japan’s Economy, Trade and Industry Minister Koichi Hagida agreed to cooperate in semiconductor research and development and strengthening supply chains in a meeting with U.S. Commerce Minister Lumondo on the 4th, Nihon Keizai (Nikkei) reported. It has decided to cooperate with the U.S. in developing high-tech semiconductors and mass-producing areas that lag behind Korea and Taiwan.Nikkei explained that the U.S. and Japan’s cooperation in the semiconductor field aims to catch up with South Korea and Taiwan in 2nm products and develop cutting-edge products that exceed 2nm first. In addition to the U.S. and Japan, the two ministers also mentioned that they share the purpose of strengthening supply chains in countries and regions that share the same intention.South Korea and Taiwan, which are already ranked first and second in the semiconductor industry, are in the process of mass production of 2nm products. Taiwan’s TSMC is preparing to mass-produce 2 products for smartphones and supercomputers, while South Korea’s Samsung Electronics is also planning to mass-produce 2nm products from 2025.In the meantime, the goal is to quickly catch up with South Korea and Taiwan by strengthening cooperation between the U.S. and Japan. IBM in the U.S. also succeeded in producing 2nm prototypes last year, and it seems that it can record high efficiency at a time when equipment companies such as Tokyo Electron and Canon in Japan are already participating in IBM’s production plan. In addition to 2nm products, Nikkei noted that Intel’s chiplet technology in the U.S., which combines multiple semiconductors to increase semiconductor performance, could be the subject of development.Still, Japanese experts remain concerned that the bureaucratic Japanese government may have entered

Sales of Japanese semiconductor manufacturing devices are expected to exceed 4 trillion yen for the first time this year.

According to foreign media such as Nikkei, the Japan Semiconductor Manufacturing Equipment Association (SEFA) announced on the 7th (local time) that sales of semiconductor manufacturing devices in Japan will reach 4.283 trillion yen this year, up 17% from last year. This is the third consecutive year of increase, and the figure has been revised upward from the forecast of 3.55 trillion yen as of January this year.

SEFA predicted that active investment in logic and foundation, which has continued since 2019, will expand further after 22 years. He pointed out that investment is expected to increase not only in terms of increasing quantitative demand, but also in terms of evolution of performance and increasing the proportion of data centers and servers. “Semiconductors are becoming a major issue at the national level,” said Ushita Kazuo, chairman of SEFA. “It is clear that semiconductors will gradually become important and both quality and quantity will increase.” Regarding the shortage of semiconductors, Chairman Ushida expressed his perception that although the timing of resolution was not clear, it will continue for the time being.

He also forecast a combined sales forecast for next year of 4.2297 trillion yen, up 5 percent from last January’s estimate.

It is predicted that the forecast will increase by 5% to 4.4412 trillion yen in 2024, when the first forecast is presentedOn the 11th, the National Assembly passed the Economic Security Act, which aims to strengthen the semiconductor supply chain and develop and protect high-tech technologies.

It will be implemented in phases starting next spring.

According to Kyodo News, Japan’s economic security law focuses on strengthening the supply chain of important goods such as *semiconductors * preliminary screening of infrastructure industries in preparation for cyber attacks * public-private cooperation for advanced technology R&D* patent disclosure.

While digitalization has been accelerated due to the lockdown measures that emerged as COVID-19 spread around the world, semiconductor supply shortages continue due to supply chain disruptions caused by the invasion of Ukraine.

The growing awareness of the need to respond to the climate crisis and the active transition to electric vehicles and eco-friendly energy also suggests that demand for semiconductors will continue to increase in the future.

In particular, Japan is making every effort to secure semiconductors.

Until the late 1980s, Japan had invested generously in semiconductor production, overtaking the United States for more than half of its global market share.

However, as the trade conflict with the U.S. intensified, Japan eventually handed over its share of the semiconductor market to South Korea, Taiwan, and China. As of 2019, Japan’s share of semiconductors fell to around 10%.

In a release on the semiconductor strategy released by Japan’s Ministry of Economy, Trade and Industry in June last year, the Japanese government issued a stern warning, saying, “Japan’s share could fall to almost 0% in the next 2030.

” The remarks suggest that a sense of crisis is also rising within the government.”The semiconductor strategy is completely different from the general industrial policy of enhancing the competitiveness of domestic companies to earn foreign currency,” Kazumi Nishikawa, an official at the IT industry division, told the Financial Times. He added, “The biggest challenge is to form a consensus among people (on the importance of securing semiconductors) and to let people know that this is not entirely up to the private sector.

“As a result, the Japanese government is trying to secure semiconductors through subsidies and external cooperation. In November last year, Japan succeeded in attracting TSMC, Taiwan’s No. 1 foundry company, to secure semiconductor production capacity.

Instead of building a semiconductor production plant in Kumamoto Prefecture, Japan, it will provide about half of the total investment of 800 billion yen (about 7.96 trillion won).Taiwan’s TSMC announced that it will jointly build a semiconductor plant with Sony in Japan and start production in December 2024. However, there are criticisms in Japan that TSMC plants, which were attracted by giving large subsidies, have not applied the latest semiconductor technology.

Semiconductors are advantageous in increasing performance because the thinner the line width of the circuit, the more devices can be integrated.

Nikkei Asia noted that the circuit width of the semiconductor that the TSMC Kumamoto plant will focus on is 22 nanometers (nm, 1 billionth of a meter) or 28nm, far behind the latest 5nm process. However, 22nm and 28nm semiconductors are in high demand because they are used in various devices, including automobiles, and explained that they are a cost-effective option.

After securing production facilities, Japan joined hands with the U.S. to develop advanced semiconductors.

Through cooperation with the U.S. the company aims to take the lead again in developing and mass-producing advanced semiconductors that lag behind Korea and Taiwan.

Japan’s Economy, Trade and Industry Minister Koichi Hagida agreed to cooperate in semiconductor research and development and strengthening supply chains in a meeting with U.S. Commerce.

KS Choi

ASIA JOURNAL

BALMUDA, called the “Apple” BALMUDA a Japanese home appliance manufacturer, released its first smartphone in November 2021. Dubbed the “Apple” of the home appliance industry for its

sophisticated designs, Balmuda had been receiving heightened attention surrounding this launch. In a press conference leading up to the release, CEO Gen Terao had pointed out that other smartphones were rather uniform in design. He said, “We will unveil new devices based on our experience in the home appliance business so far.”

I was actually half-confident about this launch. But now that the phone is out, I wanted to see how it compares to others on the market, such as the Samsung smartphones that currently occupy more than 10% of market share in Japan.

Balmuda’s phone is a “bar-type” smartphone. What distinguishes it from other phones is its markedly rounded corners and thick bezel. For example, Apple’s iPhone 13 (released in 2021) has only marginally rounded corners for grip enhancement and maintains an angled design. The same goes for Samsung’s Galaxy phones, which have rounded corners but are rectangular overall. Balmuda’s smartphone is different. With perfectly round corners, its design is more reminiscent of Samsung’s “Kobiphone ” released in 2009.  Furthermore, the bezel on Balmuda’s phone is noticeably thick on all four sides – a sharp deviation from the current market’s tendency to minimize bezels as much as possible for a full-screen appearance.

Though the product was not entirely visible in the teaser photos released by Balmuda, GAPSIS, a Japanese Android media outlet, adjusted the brightness of these photos to reveal its design further. Unlike other smartphones, Balmuda’s product has a thick back and is designed with curves. Would it tilt when placed on a desk? Perhaps. At the very least, it is round enough to make you want to try.

The back of the phone consists of a matte material. The brand’s name is engraved in large, cursive letters in the center. A camera, LED flash, and speaker are located at the top. A part of the phone is elevated, but it is not yet known what function this serves.

Though Balmuda appeared to promise a release of stylish products in its announcements, the phone’s design does not appear to be that special. Rather, it is similar to the design of smartphones released by Apple and Samsung some five to ten years ago. IT media GIZMODO said, “It feels a little tacky.” On the other hand, GAPSIS referred to it as an “independent design”. “The fact that a Japanese company has appeared in the Android smartphone market is very precious and happy news,” they said.

Balmuda also announced a new brand along with the teaser for the phone – Balmuda TECHNOLOGIES. It will announce smartphones and other IT devices under the brand name.

Balmuda is struggling with its ambitious entry into the smartphone market. Its phone had been jointly developed in partnership with Kyocera (a home appliance company) and BALMUDA, called the “Apple”  BALMUDA, a Japanese home appliance manufacturer, released its first smartphone in November 2021. Dubbed the “Apple” of the home appliance industry for its sophisticated designs, Balmuda had been receiving heightened attention surrounding this launch. In a press conference leading up to the release, CEO Gen Terao had pointed out that other smartphones were rather uniform in design. He said, “We will unveil new devices based on our experience in the home appliance business so far.”

I was actually half-confident about this launch. But now that the phone is out, I wanted to see how it compares to others on the market, such as the Samsung smartphones that currently occupy more than 10% of market share in Japan.

Balmuda’s phone is a “bar-type” smartphone. What distinguishes it from other phones is its markedly rounded corners and thick bezel. For example, Apple’s iPhone 13 (released in 2021) has only marginally rounded corners for grip enhancement and maintains an angled design. The same goes for Samsung’s Galaxy phones, which have rounded corners but are rectangular overall. Balmuda’s smartphone is different. With perfectly round corners, its design is more reminiscent of Samsung’s “Kobiphone ” released in 2009.  Furthermore, the bezel on Balmuda’s phone is noticeably thick on all four sides – a sharp deviation from the current market’s tendency to minimize bezels as much as possible for a full-screen appearance.

Though the product was not entirely visible in the teaser photos released by Balmuda, GAPSIS, a Japanese Android media outlet, adjusted the brightness of these photos to reveal its design further. Unlike other smartphones, Balmuda’s product has a thick back and is designed with curves. Would it tilt when placed on a desk? Perhaps. At the very least, it is round enough to make you want to try.

The back of the phone consists of a matte material. The brand’s name is engraved in large, cursive letters in the center. A camera, LED flash, and speaker are located at the top. A part of the phone is elevated, but it is not yet known what function this serves.

Though Balmuda appeared to promise a release of stylish products in its announcements, the phone’s design does not appear to be that special. Rather, it is similar to the design of smartphones released by Apple and Samsung some five to ten years ago. IT media GIZMODO said, “It feels a little tacky.” On the other hand, GAPSIS referred to it as an “independent design”. “The fact that a Japanese company has appeared in the Android smartphone market is very precious and happy news,” they said.

Balmuda also announced a new brand along with the teaser for the phone – Balmuda TECHNOLOGIES. It will announce smartphones and other IT devices under the brand name.

Balmuda is struggling with its ambitious entry into the smartphone market. Its phone had been jointly developed in partnership with Kyocera (a home appliance company) and Softbank (a telecommunication company). Toshiba and Fujitsu were highly anticipated by the Japanese people because they were their first smartphones in a long time in the Japanese smartphone industry.

Unfortunately, sales were urgently suspended within a month of its launch due to defects with radio wave certification. The issue was later resolved via software upgrades, and sales recommenced on the 17th; however, the market had already cooled down by that time. Supplies have already begun to be disposed of close to “ddaeng processing” online. Currently, Balmuda phones are priced at 19,000 yen – nearly 90% off the initial store price – and are virtually in stock processing.

The industry evaluates this as a predicted disaster. The biggest reason for Balmuda’s failure was that it entered areas that did not have contact with existing businesses. Balmuda jumped into the market while solely relying on its strong sense of design, but it failed to meet the more important expectations relating to performance. The Balmuda phone uses a Qualcomm Snapdragon 765 processor, which is equivalent to the processor used in the three-year-old Galaxy S10.

Furthermore, Balmuda stuck by its existing strategy when it came to price policy. The plan was to draw royalties from Balmuda fans by setting the factory price high at 1.5 million won. This did not work in the smartphone market.

Balmuda plans to make up for its insufficient sales performance by penetrating such overseas markets as Korea. CEO Gen Terao said, “In the future, Balmuda brands can enter Korea.”

And I’d like to talk about the Japanese industry. In the past, when Japan’s electronics industry was in boom, it was unprofitable to import materials for electronics from abroad. Hence, Japan became committed to investing in the material industry as a core business in the country.

Japan was also inspired by the United States’ shift away from domestic manufacturing. Though there was a time when the United States was home to most of the world’s factories, the country eventually moved production overseas to focus on the material industry instead. Their reasoning was that while anyone could produce goods over time, materials could not be obtained without long-term investment and effort. Japan followed suit.

According to data from the Ministry of Economy, Industry and Energy of Japan, there are around 30,000 businesses in the Japanese material industry, with around 1.2 million employees and 56 trillion yen’s worth of product shipments (about 600 trillion won). The Japanese government is creating a project to develop and highlight the size of its material industry. The material industry accounts for 17% of employees and 18% of product shipments in the entire manufacturing industry. Within the material industry, the chemical industry comprises the majority. The material industry is massive in Japan, though the general public may not feel it directly.

It is further worth noting that Japan is home to an education system where science and engineering students can truly flourish. Owing to many professor recommendation systems, science and engineering students attending top Japanese universities often do not engage in employment activities. There is a great demand for science and engineering graduates, with 68 trillion club companies in the chemical sector alone listed in Japan. (The scale itself is different from Korea.) Hence, talented students do not flock to only medical schools. It could even be said that students entering Tokyo National University of Engineering and Natural Sciences could very well enter any medical school in Japan. Advancements in science and engineering, along with growth of companies and industries, help form the foundation of the country.

According to Japan’s Shinetsu Chemical Industry Co., Ltd., sales are about 12 trillion won, but about 600 billion won is spent on research. In other words, research funds account for about 4.2% of total sales. Asahi Kasei has about 20 trillion won in sales, about 900 billion won in net profit, and 900 billion won in research funds. It is a company that invests its net profit in research funds. It is a scary part of Japan’s material industry and how much money the private sector has invested in the country and invested for a long time.

According to LG Chem’s research funds, 130 billion won, or 2.7% of sales, was used for research in 2015, while 260 billion won, or 4.0% of sales, was used for research in 2019. Lotte Chemical’s research expenses are 0.4% and Hanwha Chemical’s 1.8%. Large Korean companies are also gradually increasing their R&D expenses. However, it is still lacking a lot. Trade disputes with Japan arise and people focus on semiconductors, but materials are used everywhere besides semiconductors. It is regrettable that such a material industry shows a huge gap with countries in trade disputes.

Sam kim

Asia Journal

The global pharmaceutical and medicine manufacturing industry, according to the IBISWorld, a global market research firm, has posted consistent growth over the five years due to a globally aging population and a growing middle class in emerging economies. It was boosted by the global pandemic and underpinned by competitive investment and regulatory reorganization supported by each government.

As for the Korean bio-health industry, over the past 30 years there has been marvelous advancement in new drug research and development. Nowadays super rookies within seven years after its launch also stand out. As the Korean government puts strong support for future industries including the bio-health sector, the growth continues.

Bio-health companies receive major priority focus in South Korea

The South Korean government eyes boosting ‘BIG 3’ industries, which means the fastest growing industries for expansion including system semiconductors, next-generation automobiles, and bio-health. The Ministry of SMEs and Startups (MSS) in Korea launched a strategic plan to provide concentrated support for the chosen 250 startups and SMEs  across priority sectors. The government set aside $ 5.3 billion of its budget this year for the plan.

The ‘BIG 3 project’ offers on-demand support by different managing agencies. The project intends to put weights on the entire range of support, from research & development, commercialization, financial funding, technical support, and global expansion. With the purpose of facilitating the growth of innovative enterprises, the specialized managing agencies also establish strong consultation infrastructure and collaboration among industry, academia and specialists by drawing on the expertise of the both technology and business field.

Korea Institute of Toxicology as a main player for supporting biotechnology companies

The Korea Institute of Toxicology (hereafter, KIT), one of the managing agencies for the ‘BIG 3 project’, acted as a cornerstone for by supporting 56 enterprises in the biomedical sectors in lockstep with 300 specialists last year. KIT, headquartered in Daejeon, is a government-funded research institute which specializes in the safety evaluation of chemicals, medicines, agricultural pesticides, health-related functional foods, food additives and cosmetics, and the research on adjacent industries. As a cluster of cutting-edge biotechnology research, KIT has been serving as a pillar for enhancing the safety of the people and supporting an innovative growth of the nation’s industries through toxicology research for the development of future technology. KIT stimulates and manages the flow of knowledge and technology amongst the companies, markets, specialists, and academia, which empowers biotechnology at the heart of the technological revolution. As research and development is pivotal to the biomedical sector, KIT, furnished with latest equipment, is going all-out in its technical supports such as toxicity evaluation and analysis on newly-developed drug candidates for the selected enterprises.

In its own unique setting, enterprises under the support of KIT addressed profound challenges in the global biomedical industry last year, achieving investments of about $ 324 million, sales of about $ 33 million, and obtaining 369 intellectual property rights. For instance, in 2021, Pinotbio Inc. obtained or applied for 52 patents, and so did MD Healthcare Inc. and BioLeaders Corp. respectively 27 and 18 patents.

Some nurturing companies could expand their collaborative business model with main players in the Korean biomedicine industry. Rudacure Co., Ltd, a biotech focusing on ocular disease treatments, has signed an agreement for collaborative research with Hanlim Pharm Co., Ltd which is one of the largests pharmaceutical companies in Korea. YiPSCELL Inc., which develops treatment drugs utilizing induced pluripotent stem cells, and G2GBIO Inc., a biotech with a proprietary drug delivery system, navigating its business model in collaboration with bigger biotechs.

Winnings in technology competitions or other governmental-funding programmes were followed, too. For cases in point, VSPharm Tech Co., Ltd, which received an approval for the Phase 1 clinical trial for a radiosensitizer for head and neck cancer, VS-101, by the Ministry of Food and Drug Safety, successfully won various additional governmental-funding programmes. CELLnLIFE Inc., a stem cell treatment company, won six different recognitions for being the outstanding biotechnology company, and Organoid Science Co., Ltd was awarded two Minister Prizes. Three promising biotechs, Innovo Therapeutics Inc., Lmito Therapeutics Inc., and AVENTI Inc., were also selected for the large-scale government programmes including the Korea Drug Development Fund (KDDF), showing off its potential for further developments. DNBIO Pharm, Inc., developing preventive vaccines and therapeutic drugs for mucosa related diseases and illnesses, such as pneumonia and asthma, is getting funded for its development by being selected in six governmental funding programmes.

Support to take Korean biomedical industry to global stage

The global pharmaceutical and biotechnology industry is at the corner of its strong innovation momentum. The COVID-19 pandemic has intensified the importance of the industry’s innovation and economic model as the vaccine supply shortages which the whole global population went through shifted the focus in the collaborative effort between diverse stakeholders for efficient supply, manufacture and distribution. Strategic partnership models will contribute to establishing key parts of the industry’s value chain, by successfully developing, testing, and disseminating new knowledge and medicines to usher a new era for growth in the industry.

Korea has risen as an emerging powerhouse in Asian area, proving its potential as a key contributor in global biomedical innovation. After many trials, highly-educated and experienced manpower and sterling passion for new drug development have reached its culmination despite disadvantages in comparison with advanced nations – such as small domestic market size and lack of experience in the global market.

KIT intensively supports enterprises which can break ground in the global biomedical or pharmaceutical industry, providing consultations on overseas expansion, global certification of clinical tests and international technology transfer. Under the support, enterprises could stably navigate the strategic cooperation based on the in-depth market analysis. By way of example, ONCOCROSS Co., Ltd, developing new drugs utilizing artificial intelligence, has launched its local corporation in Brisbane, Australia, and at once is taking part in two accelerating programmes including ‘GO AUSTRIA’ funded by Austrian government and UC Berkeley accelerator programme. Leveraging these accomplishments, the company has passed technical approval for IPO listing.

Genome & Company, a company newly listed in KOSDAQ, is edging its way into global market; including a joint research with global drug maker, Debiopharm, in Feb 2021,  finalization of supply agreement of antitumor microbiome treatment (GEN-001) with Merck KGaA and PFizer in March 2021, and takeover contract of US CMDO (Contract Development and Manufacturing Organization) in Sept 2021. Furthermore, CONNEXT Co., Ltd has submitted for IND (Investigational New Drug) application for clinical trials in the U.S. and TiumBio Co., Ltd has approved Phase 2 clinical trials in Italy, Poland, and Czecho with its endometriosis treatments.

Another brilliant news: Lmtio Therapeutics Inc. signed confidential disclosure agreements with three global drugmakers and a material transfer agreement with an American biomedical material firm. Rudacure Co., Ltd also completed corporation registration in the U.S. last August. NeuroVIS Inc. is also in the process of collaborating with Stanley Medical Research Institute in Rockville, Maryland. ExoCoBio Co., Ltd and BioLeaders Corp. achieved respectively $7 million and 1.37 million exports.

KIT received good reviews from the nurturing companies, illustrating that special consultations on the global market were totally helpful for their business navigation. In parallel with governmental support, KIT’s great effort will contribute to ramping up the further growth and global competitiveness of the Korean bio-health industry.

Kayla Hong

Asia Journal