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Korea Herald

[Bio USA] Korea Bio opens largest national pavilion at Bio USA 2025

BOSTON — The Korea Bio, in collaboration with KOTRA, has showcased the largest national pavilion at this year's BIO International Convention, occupying an expansive 1,800-square-meter space. Featuring booths for 51 companies and organizations, the Korea Pavilion was bustling with company officials engaging with visitors, hosting investor relations sessions and showcasing their innovations on the first day. 'Korea securing the largest exhibition space among all national pavilions is a clear signal that the global market recognizes the potential of Korean biotech,' said Lee Seung-kyu, vice chairman of Korea Bio, during a press briefing at the pavilion on Monday. 'This year's event particularly reflects heightened global market volatility post US presidential election,' Lee said. 'It's not just industry players, but government agencies, regulators and moderators from the regulatory sphere participating as well. The atmosphere underscores how biotech is no longer just a promising sector, but it's becoming a 'strategic asset' for national interests.' The vice president also pointed to the rise of aggressive competitors in the region, including India, Thailand and Indonesia, and most notably Japan, which is stepping up its presence in the global biotech space. 'Fujifilm for instance, which previously focused on chemicals, has now transformed into a full-fledged life science company with a well-established system. They're actively expanding, building new manufacturing facilities in the US," Lee explained. Looking at countries such as Thailand and Indonesia that are ramping up investment in biotech, Lee insisted that Korea must secure a "meaningful position" within the next 'three to five years.' Lee also commented on former US President George W. Bush's scheduled keynote address on Tuesday, saying it reflects how seriously the US regards the biotechnology sector. 'The US is increasingly anxious about being outpaced by countries like China, and from what I hear within the American biotech community, even they are tense about those unpredictable policy changes,' Lee said. With the US government now scrutinizing issues such as inflated drug prices and health insurance premiums, the vice president believes this could benefit the biosimilar sector, and Korean companies may be well-positioned to capitalize on the shift. Lastly, Lee emphasized Korea Bio's commitment to becoming a unifying force for the nation's biotech industry by fostering greater collaboration across institutions to strengthen Korea's position in the global value chain. 'For global big pharma, CDMO capabilities are important, but drug discovery and innovation are also crucial touchpoints. Korean companies have so far made strides as 'fast followers,' but now is the time to become 'first movers,'' he said. 'To support this transition, the new Korean government must also provide policy-level support from a truly global perspective.'