Korean biotech companies are recognized for world-class competitiveness in technology, but innovation in their capital-raising methods and business structures is needed to take a further leap in the global market, industry figures said.
At the "BIO International Convention (BIO USA) 2026," held in San Diego on Wednesday, a session spotlighting Korea's bio industry was held for the first time. The event drew major domestic and international bio-industry figures, including Samsung Biologics, Boehringer Ingelheim, ABL Bio (298380), KB Investment, Ildong Pharmaceutical (249420), and the Korea Biotechnology Industry Organization, who discussed the competitiveness and challenges of Korea's bio industry.
Panelists agreed there is no dispute over the technological competitiveness of Korean bio. Hwang Jurie, Director of Public & International Affairs at the Korea Biotechnology Industry Organization, said, "Korea holds the world's third-largest level of new-drug pipelines after the United States and China, and ranks No. 1 globally in the number of pipelines relative to population." She added, "In particular, it has secured global competitiveness in the capacity to develop drugs for rare diseases, niche markets, and first-in-class new drugs."
Global pharmaceutical companies held a similar view. Scott Dwyer, vice president at Boehringer Ingelheim, said, "We began scouting Korean biotechs in 2012 and have signed more than four license-in deals to date," adding, "The greatest competitiveness lies in the high technological capabilities of Korean bio companies and the entrepreneurial spirit that pushes new mechanisms through to the end."
However, there were also points raised that competitiveness beyond technology must be strengthened to sustain growth in the global market. Panelists diagnosed that while Chinese bio companies are targeting the global market on the back of vast capital, aggressive investment, and fast decision-making, Korea is relatively limited in terms of funding power, talent with global clinical-development experience, and flexible business structures.
In particular, the investment structure was cited as an obstacle to attracting global capital. Kook Chan-woo, chief investment officer (CIO) of KB Investment, said, "U.S. investors show high interest in the technology of Korean biotechs, but at the actual investment stage they place importance on capital structure and governance." He analyzed, "U.S. investors value board-centered management and investor rights, whereas domestic bio companies have a strong founder- and management-centered decision-making structure, so differences in investment methods often arise."
Panelists agreed that for Korea's bio industry to grow continuously in the global market, it needs to move away from its existing license-out-centered strategy and actively use diverse business models such as establishing U.S. subsidiaries, joint development, spin-offs, cross-licensing, and mergers and acquisitions (M&A). Lee Sang-hoon, CEO of ABL Bio, explained, "By establishing a U.S. subsidiary, we can secure personnel with global clinical-development experience through a local corporation and use U.S. capital and networks to strengthen development and business development (BD) at the same time."
