The world’s largest biotechnology event, BIO International Convention 2026 (BIO USA), featured its first-ever official session exclusively highlighting the Korean biotech industry, confirming the elevated status of K-Bio. However, experts noted that to make further strides in the global market, increased capital inflow is crucial, beyond just technological prowess and infrastructure.
On Tuesday, the San Diego Convention Center hosted a session titled Korea Rising: Don’t Miss Out on Asia’s Next Innovation Hub as part of BIO USA. This marked the debut of a dedicated session on the Korean biotech industry in the official BIO USA program. The 120-seat venue was nearly at capacity.
Joshua Berlin, head of partnerships and business development at BioCentury and session moderator, remarked that he’s witnessed the Korean biotech industry’s growth for over a decade. This is a milestone – the first session on Korean biotech at BIO USA.
The panel included James Choi, Vice President of Samsung Biologics; Lee Jae-jun, Chief Executive Officer (CEO) of Ildong Pharmaceutical; Lee Sang-hoon, CEO of ABL Bio; and Scott Dwyer, Vice President and Head of Business Development at Boehringer Ingelheim. They highlighted innovative technology and a pioneering spirit as the Korean biotech industry’s key strengths.
Dwyer shared that he’s engaged in six collaborations with Korean biotech firms, including licensing deals. Korea demonstrates the boldness and courage to pursue First-in-Class drug development.
He added that while he haven’t visited Korea personally, he’s consistently monitored Korea’s innovative technologies from a portfolio perspective.
Experts noted that the Korean biotech sector is evolving from a global manufacturing hub into a hotbed of innovative technology.
Choi stated that Korea boasts cutting-edge infrastructure and a robust supply chain, adding that Samsung Biologics has leveraged this environment to construct production facilities about 40% faster than the industry average.
Lee emphasized that while technology export was once the primary goal, it must now progress to joint development and global commercialization.
Limited capital strength was commonly cited as a challenge for K-Bio. Panelists agreed that to boost global competitiveness, the Korean biotech industry needs to move beyond simple technology exports to large-scale tech transfers, joint development initiatives, and merger and acquisition (M&A) activities following clinical proof of concept (PoC).
Lee noted that Korea has abundant early-stage innovative technologies, but compared to China, it lacks the financial muscle to support them. This is the biggest hurdle.
Hwang Joo-ri, Head of External Cooperation at the Korea Biotechnology Association, observed that Korean biotech firms quickly grasp market dynamics and excel at identifying niche markets, but added that the persistent challenge is insufficient capital inflow, particularly in terms of funding.
Koo Chan-woo, Chief Investment Officer (CIO) of KB Investment, advised that to attract U.S. investors, it’s crucial to establish structures aligned with global standards, such as setting up local entities in the U.S.