Qlucore targets the South Korean biotech and pharmaceutical markets through new partnership with Commugene

As the world’s 12th largest economy, South Korea is one of the fastest growing and most exciting markets in the world. The recent EU-South Korea Free Trade Agreement (FTA) has resulted in the vast majority of tariffs being removed, and initiatives by the Korean Government such as Bio-Vision 2016 to step up competitiveness and improve infrastructure, has created opportunities for business. The biotech industry is one of the fastest growing industries in Korea with an annual growth rate of 10%*. South Korean publicly listed bioscience companies in 2013 registered combined revenue of $8.3 billion**. Clinical trials are becoming more commonplace locally, but there is a strong demand for international partnerships to conform to global standards. Keeping abreast with these developments, and eager to capitalise on opportunities by a global approach, Qlucore, a world leader in the development of bioinformatics software, has appointed a new agent in South Korea, Commugene.