Bio big data infrastructure involves collecting, standardizing and securely storing massive biological datasets, which serve as essential resources for drug discovery, clinical trial design and precision medicine. (Image courtesy of Yonhap)
SEOUL, Nov. 21 (Korea Bizwire) — South Korea has nearly quadrupled its investment in “bio big data” over the past five years, reflecting the government’s drive to strengthen the country’s competitiveness in next-generation drug development and digital healthcare.
According to a new report by the National Center for Biotechnology Policy Research, government investment in the sector — which includes genomic information, protein structures and clinical records — surged from 13.6 billion won in 2020 to 49.1 billion won in 2024. Total investment over the five-year period reached 122.3 billion won.
Bio big data infrastructure involves collecting, standardizing and securely storing massive biological datasets, which serve as essential resources for drug discovery, clinical trial design and precision medicine.
Funding jumped sharply in 2023 with the launch of the national Integrated Bio Big Data Project, which aims to build a database of one million individuals by 2032. Average investment per research project rose from 200 million won in 2020 to about 600 million won last year.
Chasing Precision Medicine, Seoul Accelerates Investment in Biological Data (Image courtesy of Yonhap)
The Ministry of Health and Welfare and the Ministry of Science and ICT accounted for 86 percent of total bio big data spending in 2024, reflecting concentrated government support. Major programs include the multi-agency Integrated Bio Big Data Project, the science ministry’s biomedical technology initiative, and the health ministry’s human microbiome research projects.
The report noted that global leaders are accelerating investment as well. The United States increased its bio big data spending from US$24 million in 2020 to US$148 million last year, with the number of research projects and investment per project roughly doubling or tripling.
The market outlook is equally robust. The global healthcare big data market, valued at US$78 billion last year, is projected to grow at an annual average of 19.2 percent to reach about US$540 billion by 2035 — a sevenfold jump — with AI-powered analytics expected to drive the fastest growth.
“Healthcare big data is a key engine of digital medical innovation,” the report said. “As medical data generation expands and AI capabilities advance, the practical use of healthcare big data will accelerate across the industry.”
Ashley Song (ashley@koreabizwire.com)