South Korea has formulated new detailed policy measures to support the formation of major bioclusters, which will offer tax and other incentives in a bid to lure foreign firms and talent.

Korea Health Industry Development Institute President Soon-Do Cha talks to Scrip how the government agency’s support strategy to the domestic biopharma industry may be changing in line with the industry’s increased globalization move and how he views the country’s policy stance should improve going forward to meet its goal of becoming a strong biohealth nation.

In this video interview, Novo Holdings’ Noel Jee shares his views on the Korean biotech industry and innovation, including how to draw more foreign investment into the sector.

Restructuring Edition: Impel eliminated R&D spending earlier this year to focus on Trudhesa commercialization, but is examining all options, including bankruptcy, as its funding runs out. Also, Alaunos, BioXcel and others announce job cuts and strategic shifts during second quarter updates.