KoreaBio Vice Chair Lee Seung-gyu Emphasizes Urgent Biotech Funding Amidst China’s Accelerating Global Pharmaceutical Ascent
By Korea Herald Correspondent
SAN DIEGO – The South Korean biotechnology sector is facing an increasingly narrow window of opportunity, a leading industry expert cautioned on Tuesday, as China rapidly accelerates its new drug development initiatives and solidifies its position on the global stage.
Speaking at a press conference during the prestigious 2026 BIO International Convention in San Diego, Lee Seung-gyu, Vice Chair of the Korea Biotechnology Industry Organization (KoreaBio), highlighted, “The global center of gravity for biotechnology is unequivocally shifting toward Asia.”
He further elaborated on the critical challenge: “The paramount question for Korea is whether it can successfully secure a sufficient portfolio of competitive therapeutic modalities and robust clinical assets to effectively capitalize on this transformative trend.”
Addressing the three pivotal agendas dominating this year’s BIO International Convention – namely, geopolitical shifts impacting global biopharmaceutical supply chains, the dynamics of investment and licensing activities, and the accelerating industrial application of artificial intelligence – Lee underscored that China’s rapid ascendancy remains a paramount concern for Korean biopharma companies.
“Leading global pharmaceutical companies are now actively scouting for innovative drug pipelines and partnership opportunities within China at an unprecedented pace, a trend almost unimaginable just a few years back,” Lee observed. He added, “The sheer velocity with which Chinese biopharmaceutical firms are advancing their assets into late-stage clinical development is truly remarkable.”
Despite Korea’s continued prowess in generating promising early-stage biotech research and groundbreaking discoveries, Lee pointed out that a significant number of domestic companies are struggling, often stalled in the critical preclinical development phase. This stagnation is largely attributed to a prolonged venture capital funding drought that has severely constrained biotech investment over recent years.
“There is an urgent requirement for diverse funding mechanisms, including robust state-backed initiatives, to mobilize swiftly. This is crucial for accelerating our proof-of-concept (POC) stage development,” Lee emphasized. He articulated a clear progression: “Successfully completing the POC stage will pave the way for valuable license-out agreements, which in turn will facilitate more favorable market listings on stock exchanges. Ultimately, this comprehensive strategy is essential for cultivating a self-sustaining and thriving biotechnology ecosystem.”
While South Korea has consistently expanded its presence at the BIO International Convention in recent years, demonstrating its growing global engagement, the KoreaBio official stressed the imperative of securing meaningful and tangible commercial and strategic outcomes at what is recognized as the world’s largest biotechnology convention.
KoreaBio reported that approximately 130 South Korean companies actively participated in this year’s BIO International Convention. The global event attracted more than 20,000 attendees from various countries worldwide, with an estimated 1,200 participants originating from Korea.
Hwkan
