PBD’s Activities

home Introduction PBD’s Activities

PBD’s activites

The Korean government establishes a master plan every five years pursuant to Article 4 of the Special Act on Fostering and Support of Pharmaceutical Industry, which was enacted (March 2011) and put into effect (March 2012) to promote the strategic fostering of the industry.

Vision and Goals for the Development of the Pharmaceutical Industry

12 Implementation Strategies

  • R&D
    1. Develop next-generation fields with a promising future to lead the 4IR
    2. Enhance support systems to increase success rates for new drug development
    3. Facilitate R&D investments for public purposes in the pharmaceutical field
  • HR Development
    1. Nurture professional resources in diverse pharmaceutical fields
    2. Increase support to create quality jobs
    3. Reinvigorate business startups to expand the growth engine for the biopharmaceutical industry
  • Export Support
    1. Construct platforms that enable Korean businesses to enter overseas markets
    2. Improve the export capabilities of pharmaceutical companies
    3. Facilitate entry into local pharmaceutical markets
  • Institutional Improvement
    1. Strengthen private investments through policy-directed finance and tax support programs
    2. Reinforce the institutional foundations to revitalize new drug development drives
    3. Revise the legal and institutional framework in a timely manner to accommodate changes in the pharmaceutical ecosystem