According to Yonhap News,

(SEOUL=Yonhap News) The Korean government is aiming to create 10,000 new jobs in healthcare (pharmaceutical, medical device, and cosmetics) industries over the next five years, and attain an export volume of USD 10 billion.

The goal is part of a greater effort to transform Korea's healthcare sectors, growing by an annual average rate of 5 percent despite the global economic slowdown, into a future-type industry that creates high added value.

Support will be given so that the number of new global drugs made in Korea rises from the current three to fifteen by 2022, and over 1,100 pharmaceutical and bio companies are newly established.

The government also plans to see Korean companies release 30 global-first medical devices, and make Korea into one of the world's top 3 cosmetics exporting countries by 2030.

Details of the plan are specified in the 2nd 5-year Basic Plan for Nurturing and Supporting the Pharmaceutical Industry, and the Basic Plan for the Medial Device and Cosmetics Industries unveiled by the Ministry of Health and Welfare at the Economic Ministerial Meeting on December 20.



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