President Moon Jae-in has pledged to fully support the nation's bio-health industry,... one of three major pillars identified as new economic growth engines. <br />Attending an event in Osong, Chungcheongbuk-do Province, on Wednesday, President Moon expressed his will to foster South Korea's bio-health industry,... calling it a young industry as the biomedicine sector only accounts for just a tenth of the medicine industry as a whole.<br />To that end, he explained the government will invest 3-point-3 billion U.S. dollars annually into the industry's R&D sector through 2025.<br />Referring to South Korea recently making it onto the EU's pharmaceutical whitelist, the president said now the country's bio and pharmaceutical firms can enter the European market more easily. <br />The two other new growth engines identified by the government are non-memory semiconductors and future cars. <br />
