Biotechnology is an evolving field, driven by creative idea. Since its birth in the early 1970s, the biotechnology field has been accelerated by four major research innovations, recombinant DNA technology during the early 1970s, monoclonal antibody generation technology in the 1980s, polymerase chain reaction (PCR) in the 1990s, and the human genome-sequencing project in 2001. These innovative technologies have evolved new biotechnology fields, such as therapeutic antibody, gene therapy, and cell therapy. During 1992 to 2001, biotechnology-based industry revenues increased from $8 billion to $27.6 billion in the US. During 1980s, many Korean scientists in this filed also recognized and emphasized the importance of biotechnology. But the R&D for biotechnology field was not successful enough to industrialize this golden field mainly due to the limited funding and strategy in both government and private sectors. Recently, Korean government has decided the biotechnology industry as one of ‘NEW GROWTH DRIVERS IN THE FUTURE’. This presentation will discuss the current status for biotechnology in general and the strategy for the future drug development in Korea.