[Inaugural Interview] Park Yeong-min, CEO of KDDF:
“China’s lessons show the need for more funding and better regulation”
- "Clinical stage bears the highest development cost ratio…Government support for SME new drug developers remains inadequate"
- China serves as a benchmark, not a rival…"Competition through gate evaluation and improved data quality"
On the occasion of its second anniversary, the Korea Drug Development Fund (KDDF), which functions as the central coordinating body for national new drug development R&D, has underscored the urgent need for increased governmental support for research and development (R&D) funding. Despite achieving a 30% increase in clinical trial activity this year through its initiatives, the KDDF maintains that the current level of support remains inadequate to establish a sustainable ‘virtuous cycle’ encompassing global clinical trials and subsequent commercialization. The organization particularly highlighted the rapid development of China’s biopharmaceutical sector on the international stage as a pressing impetus for accelerating Korea’s national-level competitiveness of the bioindustry. conducted an interview with Park Yeong-min, CEO of KDDF, on July 1 to commemorate the second anniversary. [Editor’s Note]
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