The development of medicine and medical supplies has relied on technology developed by pharmaceutical firms. However, therein lies the issue of which blockbuster drugs can only be researched and produced when development is supported by national infrastructure and the policies of government. Countries around the world have focused on developing new drugs with systematic foundation while creating long-term plans.
These efforts aim to foster the pharmaceutical industry and bio-industry into an industry that heads their future economies. New drugs were expected to define a nation’s strength and influence a nation’s standing in the world, and that expectation has already become a reality. The Republic of Korea is also witnessing previous political efforts coming to fruition in developing their pharmaceutical industry into a future “core growth engine”. 20 years since its arguably most potent industrialization, the Korean pharmaceutical industry has produced 29 new drugs and is taking a leading position in the biopharmaceutical sector. Among these newly developed drugs, some have gained a license from the FDA and have been successfully sold in European markets, these nations being considered highly developed in terms of drug development.