South Korea's three major groups are seeking breakthroughs and are targeting the biopharmaceutical sector

The rapid development of economy and the progress of science and technology make the market competition in traditional manufacturing industry increasingly fierce. Oversupply has left little profit, and many enterprises are facing a crisis of transformation. South Korea's big companies, such as Samsung Group, LG Group and SK Group, are keeping up with the market and are looking for a breakthrough by seeing the biopharmaceutical business as a new generation of growth drivers.
recently decided to go into bio business, with LG Chem absorbing LG Life Sciences, the biotech subsidiary of the combined group, to focus resources and use effectively, according to reports.
, The board of directors of Larkin Chemical and Larkin Life Sciences held separate meetings, through the merger proposal, the follow-up development of the pharmaceutical technology (Red Biotechnology) business, engaged in biosimilar and other new drug research and development, will be determined by Lekin Chemical funding.
Lejin Chemical plans to invest 300 billion to 500 billion won (about 260 million to 450 million U.S. dollars) a year in research and development and equipment procurement, and to develop Green Biotechnology and White Biotechnology with a target turnover of 5 trillion won by 2025.
Samsung Group entered the global biosimilar market with two subsidiaries, Samsung Bioepis and Samsung Biologics. Samsung Bioepis is responsible for research and development, and Samsung Biologics is responsible for production and sales.
Among them, Samsung Biologics aims to become a South Korean-listed company, CMO, by the end of 2016, with an estimated capital raising size and market value of 3 trillion won and 10 trillion won each, and will expand production with the funds obtained, with production set at 360,000 liters in 2018.
Bioepis is currently launching Biosimilars for Enbrel and Remicade in South Korea and Europe, and Humira's biosimilar SB5 has obtained European approval to list further in the U.S. in the future.
SK Group developed its vaccine and biopharmaceutical businesses by SK Chemicals and SK Biopharmaceuticals.
SK Chemical developed the first cell culture-based influenza vaccine SKYCellflu Quadrivalent, and hemophilia treatment agents sold in the U.S. market; The epilepsy drug YKP3089, developed by SK Biopharmaceus, has been approved by the U.S. Food and Drug Administration (FDA) and the follow-up plan is to raise 1 trillion won in the form of a Pre-IPO to accelerate business development. （DIGITIMES）