![[Bio USA] Global biotech leaders call for stronger, smarter supply chains](/_next/image?url=https%3A%2F%2Fwimg.heraldcorp.com%2Fnews%2Fcms%2F2025%2F06%2F19%2Fnews-p.v1.20250619.7e93f8b61e84489c83a5639b38f6a832_T1.jpg&w=3840&q=100)
[Bio USA] Global biotech leaders call for stronger, smarter supply chains
BOSTON — A special panel discussion held Wednesday at the 2025 Bio USA brought together several global biotechnology leaders to tackle one of the sector's most pressing issues: how to build more resilient supply chains amid ongoing global instability.
The session "Building Resilient Global and National Supply Chains" addressed the complexity and vulnerabilities of current systems, especially in light of recent global disruptions such as the COVID-19 pandemic and rising geopolitical tensions.
Panelists unanimously agreed that the pandemic laid bare serious weaknesses in global biotech supply chains.
"The pandemic was really what first started companies thinking about the supply chains. It disrupted a lot of the work that innovative pharma companies were doing," said Rory Mullen, head of Biopharma and Food at Industrial Development Agency Ireland.
Since then, many companies have been reassessing internal operations and external partnerships, placing greater focus on regional resilience, supply redundancy and long-term risk management. However, new challenges continue to emerge, as told by panelists.
'Today, geopolitical tensions and the threat of tariffs add more layers of uncertainty,' Mullen added. 'As companies prepare for future shocks, they are constantly trying to assess what these uncertainties could imply.'
Jurie Hwang, director general at the Korea Biotechnology Industry Organization, spotlighted South Korea's significant dependency on foreign sources for materials and active pharmaceutical ingredients, especially from China and India.
"We rely on them for 97 percent of our materials. In other words, we cannot survive without them in the drug-making process," Hwang said. She also identified a shortage of human resources as another critical vulnerability for Korea's biotech industry.
Hilary Stiss, senior director of International Affairs at the Biotechnology Innovation Organization, highlighted a fundamental gap in government understanding of the biotech supply chain's intricacies.
"The lack of understanding of what the supply chain is, that's partly a failure on our part as an industry to explain," she said, calling for more proactive engagement with policymakers. Stiss also emphasized the need for expanded training and retraining programs at the state and national levels to support a stronger, more agile workforce.
The session ended with the message that strengthening biotech supply chains takes more than quick fixes and requires ongoing collaboration, careful long-term planning and the ability to adapt in order to handle both current and future disruptions.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Korea Herald
a day ago
- Korea Herald
Kospi closes above 3,020 for first time in 3 1/2 years
Postelection optimism fuels sharp rally, lifting hopes of a market renaissance The Kospi did not just return — it roared back. On Friday, South Korea's benchmark index surged past the long-awaited 3,000 mark and kept climbing, closing at 3,021.84, up 1.48 percent from the previous session. It was the first time the Kospi ended above 3,020 since Dec. 28, 2021. The rally seemed modest at the start, with the index opening just 0.29 percent higher at 2,986.52. Retail investors led early gains with net buying, while foreigners and institutions sold into strength, keeping the benchmark tightly anchored below the key level. That restraint vanished once the Kospi cracked 3,000 around 10:45 a.m. Momentum took over, lifting the index past 3,010 by 11:20 a.m. The market stayed buoyant throughout the afternoon, hovering near 3,010, before accelerating again in the final minutes of trading. The Kospi hit an intraday peak of 3,022.06 just before the close, settling near the high of the day. It was a historic session: Not only did the Kospi reclaim the 3,000 level for the first time since January 2022, but total market capitalization hit a record 2,472 trillion won. According to the Korea Exchange, the Kospi first crossed the 3,000 mark on Jan. 7, 2021, peaking at 3,305 in July that year. But post-COVID-19 momentum faded amid a global slowdown and recession fears, pushing the index into a prolonged slump. For much of the past year, it remained trapped in a narrow range between 2,200 and 2,800. Gains were broad-based, with most of the Kospi's top market heavyweights finishing higher. SK hynix and LG Energy Solution each rose more than 4 percent, while Naver surged nearly 7 percent. Hyundai Motor climbed 1.5 percent and Samsung Biologics added 1.7 percent. The tech-heavy Kosdaq also posted solid gains, rising 1.15 percent to close at 791.5. Institutional and foreign investors bought a combined 84 billion won, offsetting retail selling. Friday's milestone extends a two-week honeymoon rally under President Lee Jae-myung's new administration, reinforcing renewed investor confidence despite external headwinds, including Middle East tensions and lingering tariff risks. The Kospi has staged a near-unbroken rally since June 2, the eve of the general election, logging only one down day on June 13. After crossing the 2,700 mark on Lee's first full day in office, the index has jumped 12 percent, buoyed by expectations for policy reform and pro-growth momentum. 'The Kospi reversed course earlier this year as dip-buying resumed and the Trump administration announced tariff deferrals, with the rally gaining further traction around the presidential election,' the Korea Exchange said. 'The launch of the new administration has eased political uncertainty and lifted sentiment on expectations of market-friendly policies.' Analysts say the market is responding sharply to government signals. 'The Kospi's strength is being driven more by expectations of capital market reform and a valuation rerating than by earnings growth,' said Kang Jin-hyeok, analyst at Shinhan Securities. He added that Friday's rally reflected investor optimism following Thursday's unveiling of a 30.5 trillion won ($22.3 billion) supplementary budget. "This, combined with expectations of one or two additional rate cuts later this year, is fueling hopes for increased liquidity in the market.' Market watchers expect momentum to persist, brushing aside concerns of postelection fatigue. 'If current earnings trends hold, the Kospi could reach 3,100 by year-end,' said Noh Dong-kil, strategist at Shinhan Securities. 'And if rising liquidity drives a further rerating in valuations, the index could climb as high as the 3,400 range.' 'Despite the rally, Kospi's valuation remains at a neutral level," said Lee Soo-jung of Meritz Securities, adding, "With stimulus measures such as the supplementary budget and revisions to the Commercial Act upcoming, there's a strong possibility of an overshoot in the Korean stock market.' Lee anticipated foreigners to remain key drivers. After nearly 10 months of net selling, foreign investors turned net buyers in May, purchasing 1.2 trillion won, followed by an additional 5.3 trillion won in June. They remain net sellers of 8 trillion won year-to-date. Still, caution lingers as external risks and a slowing domestic economy continue to pressure sentiment. 'Despite strong policy momentum and supportive catalysts unique to the Korean market, broader fundamentals and external risks — such as weak earnings prospects, trade tensions and geopolitical instability — should not be overlooked,' said Han Ji-young, strategist at Kiwoom Securities. 'A breakout above 3,100 this year is possible, but navigating volatility will be crucial at those levels.'


Korea Herald
3 days ago
- Korea Herald
Korea unveils W30.5tr stimulus to revive growth, ease household strain
W10.3tr revenue cut marks first revision in five years as fiscal deficit widens Just two weeks into office, President Lee Jae Myung's administration has unveiled a proposal for a 30.5 trillion won ($22.2 billion) supplementary budget aimed at jump-starting the sluggish economy. The package includes a 10.3 trillion won revenue revision — the first in five years. 'The Korean economy now stands at an inflection point,' Second Vice Finance Minister Lim Ki-keun said Wednesday during a briefing in Sejong. 'To set growth on an upward trajectory, timely and bold fiscal intervention is more critical than ever. More spending cannot by itself solve everything, but this will be a vital first step.' The measure marks the second spending package this year, following a 13.8 trillion won plan approved in May under the previous administration, which won rare bipartisan support during a politically volatile, post-impeachment transition. With Cabinet approval secured on Thursday, the government said it plans to submit the latest proposal to the National Assembly by Monday. Lim said the latest plan was guided by two priorities: providing tangible support for the real economy and people's livelihoods and ensuring its swift implementation within the year. Of the 20.2 trillion won in new spending, 15.2 trillion won will go toward boosting economic activity, while 5 trillion won is earmarked for stabilizing livelihoods. A key pillar of the stimulus is a 10.3 trillion won cash relief program distributed via so-called 'spending coupons,' with payments ranging from 150,000 won to 500,000 won based on income levels. All Koreans will receive at least 150,000 won in the first phase, with larger amounts for lower-income households. In the second phase, the top 10 percent of earners will be excluded, while the remaining 90 percent will receive an additional 100,000 won. The government also allocated 2.7 trillion won to the construction sector, which has posted four consecutive quarters of contraction and remains a significant drag on domestic demand. To foster long-term growth, 1.2 trillion won will be invested in startups and emerging industries, including artificial intelligence and renewable energy. The 5 trillion won earmarked for livelihood support mainly targets struggling small business owners and the self-employed, as recent data show record-high default rates and involuntary closures. Of that, 1.4 trillion won will go toward easing the debt burden of chronically distressed borrowers, while 1.6 trillion won will be used to strengthen the employment safety net, through job-seeking benefits and aid for delayed wage payments. The government is revising down its revenue projection by 10.3 trillion won, marking the first revenue correction since July 2020 during the COVID-19 pandemic. As of end-April, the integrated fiscal balance, indicating the government's underlying fiscal health, posted a deficit of 46.1 trillion won — the third-largest April shortfall on record after 2024 and 2020. That figure is set to grow, factoring in more than 30 trillion won in combined extra budget spending this year. Fiscal conditions are set to worsen with expanded outlays. Full-year revenue is now projected at 642.4 trillion won, down from an initial estimate of 651.6 trillion won, while spending has been revised up to 702 trillion won from 673.3 trillion won. As a result, the year-end integrated fiscal deficit is forecast to reach 110.4 trillion won, widening from 91.6 trillion won last year. As a share of gross domestic product, the deficit rate is projected to rise to 4.2 percent, up from an earlier forecast of 3.3 percent. The national debt, which stood at roughly 1,200 trillion won as of end-April, is expected to exceed 1,300 trillion won by year's end, pushing the debt-to-GDP ratio to 49 percent. To finance the shortfall, the government plans to issue 19.8 trillion won in treasury bonds, with the remainder covered through about 10 trillion won in spending restructuring and available fund reserves. The ministry downplayed concerns about bond market pressure, saying the extra budget had already been priced in and yields remain stable. 'Demand in the treasury bond market remains solid,' Lim said. Despite concerns over fiscal health, the finance ministry said Korea's debt remains manageable by global standards. Lim underscored the administration's emphasis on 'sustainability,' calling for strategic spending paired with a long-term path to fiscal stability. 'Given current economic and fiscal conditions, rigidly adhering to the 3 percent deficit cap could harm both the economy and public finances,' Lim said, adding, 'While we remain committed to fiscal sustainability, strictly meeting the rule is unrealistic at this stage." The government expects the extra budget to boost economic growth by 0.1 to 0.2 percentage points, lifting it into the 1 percent range. The Bank of Korea projects 0.8 percent growth this year, while the International Monetary Fund forecasts a 1 percent expansion.
![[Bio USA] Global biotech leaders call for stronger, smarter supply chains](/_next/image?url=https%3A%2F%2Fwimg.heraldcorp.com%2Fnews%2Fcms%2F2025%2F06%2F19%2Fnews-p.v1.20250619.7e93f8b61e84489c83a5639b38f6a832_T1.jpg&w=3840&q=100)
![[Bio USA] Global biotech leaders call for stronger, smarter supply chains](/_next/image?url=https%3A%2F%2Fall-logos-bucket.s3.amazonaws.com%2Fkoreaherald.com.png&w=48&q=75)
Korea Herald
3 days ago
- Korea Herald
[Bio USA] Global biotech leaders call for stronger, smarter supply chains
BOSTON — A special panel discussion held Wednesday at the 2025 Bio USA brought together several global biotechnology leaders to tackle one of the sector's most pressing issues: how to build more resilient supply chains amid ongoing global instability. The session "Building Resilient Global and National Supply Chains" addressed the complexity and vulnerabilities of current systems, especially in light of recent global disruptions such as the COVID-19 pandemic and rising geopolitical tensions. Panelists unanimously agreed that the pandemic laid bare serious weaknesses in global biotech supply chains. "The pandemic was really what first started companies thinking about the supply chains. It disrupted a lot of the work that innovative pharma companies were doing," said Rory Mullen, head of Biopharma and Food at Industrial Development Agency Ireland. Since then, many companies have been reassessing internal operations and external partnerships, placing greater focus on regional resilience, supply redundancy and long-term risk management. However, new challenges continue to emerge, as told by panelists. 'Today, geopolitical tensions and the threat of tariffs add more layers of uncertainty,' Mullen added. 'As companies prepare for future shocks, they are constantly trying to assess what these uncertainties could imply.' Jurie Hwang, director general at the Korea Biotechnology Industry Organization, spotlighted South Korea's significant dependency on foreign sources for materials and active pharmaceutical ingredients, especially from China and India. "We rely on them for 97 percent of our materials. In other words, we cannot survive without them in the drug-making process," Hwang said. She also identified a shortage of human resources as another critical vulnerability for Korea's biotech industry. Hilary Stiss, senior director of International Affairs at the Biotechnology Innovation Organization, highlighted a fundamental gap in government understanding of the biotech supply chain's intricacies. "The lack of understanding of what the supply chain is, that's partly a failure on our part as an industry to explain," she said, calling for more proactive engagement with policymakers. Stiss also emphasized the need for expanded training and retraining programs at the state and national levels to support a stronger, more agile workforce. The session ended with the message that strengthening biotech supply chains takes more than quick fixes and requires ongoing collaboration, careful long-term planning and the ability to adapt in order to handle both current and future disruptions.