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Industry Data

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Medical Research in and around DGFEZ

Daegu-Gyeongbuk FEZ is home to a large number of medical research institutes. The Daegu-Gyeongbuk High-tech Medical Cluster, based on a nationally unparalleled medical capacity, aims to spearhead the globalization of Korean medical industries by serving as a stronghold for globally competitive IT-based high-tech medical devices and synthesized drugs. At the centre of the cluster is the Daegu Gyeongbuk Medical Innovation Foundation which is a leading research institute in many areas including:

  • New Drug Development
  • Medical Device Development
  • Clinical Device Development
  • Medical Device Development
    • The Korean Medical Device Industry is a fast growing industry, valued at over $USD4.1Billion per year. As well as servicing the growing domestic market, firms based inside Korea have also achieved more than 2 billion dollars in export sales. The industry is developing through a number of sustained market factors

       

    • Steadily rising domestic expenditure in health care
    • Fast paced growth in medical tourism throughout the country
    • Major investment from Korean firms into the field e.g. Samsung’s acquisition of Medison.
  • Pharmaceutical Industry
    • The Korean Pharmaceutical Industry has undergone tremendous growth and development in its 110 year industry. Although historically a net importer of both drugs and patents, The Korean industry is now fully mature with more than 600 hundred firms producing more than $USD 15 Billion dollars worth of products a year.

      Recent FTA signings have had a two-fold benefit to the industry, facilitating low-tariff access to markets and improving Intellectual Property protection.
    • For more information about Medical Industry, download the full report here PDF