Home

The Korea Herald

Latest news

Most Popular

  1. 1

    Industry experts predicts tough choices as NewJeans' ultimatum nears

    Industry experts predicts tough choices as NewJeans' ultimatum nears
  2. 2

    Opposition chief acquitted of instigating perjury

    Opposition chief acquitted of instigating perjury
  3. 3

    Seoul city opens emergency care centers

    Seoul city opens emergency care centers
  4. 4

    Jung's paternity reveal exposes where Korea stands on extramarital babies

    Jung's paternity reveal exposes where Korea stands on extramarital babies
  5. 5

    [Exclusive] Hyundai Mobis eyes closer ties with BYD

    [Exclusive] Hyundai Mobis eyes closer ties with BYD
  1. 6

    [Herald Review] 'Gangnam B-Side' combines social realism with masterful suspense, performance

    [Herald Review] 'Gangnam B-Side' combines social realism with masterful suspense, performance
  2. 7

    Why S. Korean refiners are reluctant to import US oil despite Trump’s energy push

    Why S. Korean refiners are reluctant to import US oil despite Trump’s energy push
  3. 8

    Agency says Jung Woo-sung unsure on awards attendance after lovechild revelations

    Agency says Jung Woo-sung unsure on awards attendance after lovechild revelations
  4. 9

    Prosecutors seek 5-year prison term for Samsung chief in merger retrial

    Prosecutors seek 5-year prison term for Samsung chief in merger retrial
  5. 10

    UN talks on plastic pollution treaty begin with grim outlook

    UN talks on plastic pollution treaty begin with grim outlook
지나쌤

Korea to spend W10tr on drug development by 2017

By Korea Herald

Published : July 21, 2013 - 19:48

    • Link copied

The South Korean government will spend a combined 10 trillion won ($8.9 billion) on the project to develop 20 new drugs over the next five years in collaboration with private local drug makers, the Health Ministry said Sunday.

The government will also form a fund of 500 billion won to help the local pharmaceutical companies expand their presence in the global drug market by acquiring promising overseas drug makers during the same period, the ministry said.

The new drug development project aims to export 11 trillion won in drugs by 2017 and become one of the global top 10 pharmaceutical powerhouses, it said. (Yonhap News)

More from Headlines