ULSAN < invest Korea

According to Yonhap News,

(ULSAN=Yonhap News) Ulsan City plans to develop the biomedical industry as a new industry.

The city held a meeting to establish a plan to develop the biomedical industry on March 13 at the City Hall. The participants include officials at the Ulsan National Institute of Science and Technology, Ulsan Techno Park and the Ulsan Development Institute.

The global biomedical market will increase from KRW 330 trillion in 2013 to KRW 635 trillion in 2020, while the Korean biomedical market will increase from KRW 7.5 trillion in 2013 to KRW 16 trillion in 2020, according to an analysis.

Ulsan has a relatively weaker medical infrastructure compared to that of other cities but secures technologies that become the foundation for the biomedical industry including machinery, control system and chemistry.

The biomedical industry refers to a high value added industry that provides necessary services for the public’s health, diseases, diagnosis and treatment by maximizing on the functions and information of organisms.

leeyoo@yna.co.kr

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