1. Study Objectives and Method

● Research Objectives

○ The aim of this research is to identify a core strategy to revitalize the domestic biochemical industry in Jeollabuk-do based on an analysis of the industry’s existing conditions, capabilities, and location.

● Scope and Methods of Research

○ The scope of this research encompasses analyzing the conditions and competitive edge of Jeollabuk-do’s biochemical industry, its development, and the direction of vitalization policies and strategies, from the mid-to long-term perspective for 10 years, from 2023 to 2033, considering the characteristics of the industry that requires a substantial period of time for technology development and commercialization, and investment in and cultivation of industrial infrastructure.

○ To understand the concepts, current status, and related policies, both domestic and international, of Jeollabuk-do’s biochemical industries, we conducted a documentary survey using domestic and foreign academic research and reports, and legal and policy data. Additionally, we performed information research and analysis using industrial structure and business and economic indicators based on domestic, foreign, and regional statistical data and current status surveys.

○ To identify specific promotional works and goals suitable for the biochemical industry at Jeollabuk-do, we consulted industry experts from the Korea Institute for Industrial Economics and Trade, Korea Research Institute of Chemical Technology, Korea Research Institute of Bioscience and Biotechnology, related companies, and funded institutions with the province.

2. Conclusion and Policy Suggestion

● Research Synthesis

○ The biochemical industry manufactures chemical products using biomass as a raw material, or through a production process using living organisms (enzymes, microorganisms, etc.), thus responding to environmental crises and preserving resources while offering services and products.

○ The global biochemical industry is expected to grow at an average annual growth rate of 8.9-15.4%. Major countries, including Korea, actively support technology and infrastructure development of the biochemical industry. In line with this policy, Jeollabuk-do also promotes policies to integrate bio-related infrastructure and create ecosystems to evolve into a global bio-industry hub by the year 2030.

○ The location quotient (LQ) of the biochemical industry in Jeollabuk-do showed a score of 2.05, making it a specialized industry. SWOT analysis revealed the need for implementing strategies for securing basic or source technology, expanding demand markets and sales channels, building clusters, and fostering professional personnel.

● Policy Proposal

○ Considering the conditions and policy factors affecting Jeollabuk-do’s biochemical industry, we established a vision for revitalizing the industry by “making Jeollabuk-do the hub of the biochemical industry through strengthening the value chain and expanding the industrial base.” To achieve this vision, we identified promotional goals reflecting policy factors in terms of broadening the value chain, establishing an industrial base, and expanding the demand markets.

○ We suggest the following major promotion efforts. To strengthen the value chain of the biochemical industry; (1) support the expansion and advancement of the value chain of Jeollabuk-do’s biochemical industry, (2) commercialize and integrate the R&D of the biochemical life-cycle, (3) secure the core applications of biochemical technology. To build the foundation of the biochemical industry, (4) establish the foundation of Jeollabuk-do’s biochemical industry cluster, (5) support the cultivation of biochemical companies, (6) train biochemical professionals. To expand the market demand for biochemicals, (7) secure the competitiveness of biochemical products, and (8) expand domestic and foreign demand markets.

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