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Key Points

South Korea is aggressively positioning itself in the global AI biotechnology competition. The government has initiated high-level discussions with pharmaceutical companies to accelerate AI-powered drug development strategies. Projections show the AI biotechnology market growing to $7.75 billion by 2029, with potential to dramatically reduce research timelines. By investing $40 million in infrastructure and fostering public-private partnerships, South Korea aims to become a key player in next-generation medical innovation.

Key Points: S. Korea Accelerates AI Drug Development Race

  • S. Korea ranks third globally in AI bio-related patent applications
  • AI could cut drug development time by 50%
  • Government planning major biotech infrastructure investment
2 min read

S. Korea discusses AI-powered drug development amid growing global competition

South Korea targets AI biotech revolution, investing $40M to transform pharmaceutical research and compete globally

"AI is rapidly permeating the entire biotechnology industry - South Korean Finance Ministry"

Seoul, May 15

The South Korean government on Thursday held a consultative meeting with private sector stakeholders to promote the use of artificial intelligence (AI) in drug development in response to the intensifying global competition in the bio-health sector.

The meeting brought together officials from the Ministry of Economy and Finance and other relevant government agencies, alongside leading pharmaceutical companies, including Daewoong Pharmaceutical, Yonhap news agency reported.

As per the Ministry, the discussions were focused on boosting AI-based drug development and promoting effective data usage, with sessions serving as a platform to listen to challenges faced by the pharmaceutical industry and to explore directions for public-private cooperation.

The global AI biotechnology market is projected to grow over 19 per cent annually, reaching $7.75 billion by 2029. South Korea currently ranks third globally in the number of AI bio-related patent applications.

"AI is rapidly permeating the entire biotechnology industry," the finance ministry said. "It is emerging as a core technology across areas, such as new drug development, protein structure prediction and design, and gene therapy."

The ministry emphasised that countries are now in fierce competition to preemptively secure AI capabilities and apply them effectively in the bio-health field.

In particular, AI-powered drug development is revolutionizing the traditional pharmaceutical research and development process, the ministry said.

By applying AI throughout the entire drug development pipeline, time can be reduced from a period of 10 to 18 years to a period of just six to nine years while significantly cutting costs, the ministry added.

Meanwhile, South Korea has reported plans to funnel 60 billion won ($40.4 million) by 2028 to expand infrastructure for the development of materials and components technologies essential for advanced industries, such as AI, Yonhap reported.

According to the Ministry of Trade, Industry, and Energy, the investment will be used to build research facilities and equipment for the development and testing of technologies related to materials and components essential for AI, advanced bio, and other future industries.

In detail, the government will support the construction of infrastructure for the development of core materials for next-generation AI chips, messenger RNA-based drugs, and others, the Ministry said.

- IANS

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Reader Comments

R
Rahul K.
South Korea is making smart moves in AI and biotech! India should also invest heavily in these sectors. Our pharma industry is strong but we're lagging in AI integration. Hope our government takes notes from such initiatives 🇮🇳
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Priya M.
Interesting development! But I wonder if $40 million is enough investment for such ambitious goals. India's recent budget allocated ₹10,000 crore for AI development - hope it's used effectively unlike some other schemes 🤔
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Amit S.
Reducing drug development time by half is revolutionary! This could make life-saving medicines reach patients faster and cheaper. But we must ensure proper testing isn't compromised in the rush. Safety first!
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Neha P.
As someone working in Indian pharma, I can say AI is definitely the future. But we need more collaboration between IITs, medical colleges and companies. Korea's public-private model seems promising 👏
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Vikram J.
While this is impressive, I hope countries don't get into an unhealthy AI arms race. The focus should remain on improving healthcare outcomes rather than just competition. Still, good to see technological progress!
S
Sanjay R.
India has great potential in this area with our IT and pharma strengths. But we need to move faster - China is already ahead in AI applications. More focus on research funding please! #MakeInIndia

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