The second phase of South Korea’s Global Pharmaceutical Industry Development Fund has been launched. The Fund is designed to support mid-sized domestic pharmaceutical firms and includes funding for partnerships, overseas investments and GMP production facilities. The KRW 135 billion ($123 million) round of funding follows a KRW 100 billion investment in 2013. The Ministry of Health and Welfare will contribute KRW 20 billion, with the remainder of funding coming from Korean banks and investment firms. Korean Investment Partners will manage the Fund, which will provide funding for as long as eight years.

Source: koreabizwire.com