The government plans to expand Korea’s CDMO manufacturing capacity 2.5 times by 2032 to become the No. 1 global CDMO by 2032.

It will also support domestic companies with a 'megafund' by expanding the size of the K-Bio-Vaccine Fund, currently at KRW 600 billion, to over KRW 1 trillion.

The government launched the National Bio Commission in anticipation of the global bio market growing to KRW 3.3 trillion by 2027.

According to the 'Vision and Mission of the National Bio Commission (draft)’ released at the first meeting, the government will quickly create mega funds worth more than KRW 1 trillion, such as the K-Bio-Vaccine Fund, for early investment and scale-up of bio compani