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Korea Ups Tax Credits, R&D Support, Seeks UK Collaboration

This article was originally published in PharmAsia News

Executive Summary

Amid concerns South Korea may be lagging behind in innovation due to sluggish R&D investment, the government is making domestic and international efforts to beef up R&D support for the biopharma sector. It plans to expand R&D-related tax incentives and will conduct joint R&D projects with the UK's Medical Research Council, which sees the country as an important strategic partner.