South Korean Company, Samsung Electronics, will invest 500 billion won ($389 million) in the biotech medicine business.  This was reported by a local internet news provider which quoted a top policymaker.

South Korea’s economy minister Lee Youn-ho mentioned about the investment wherein the world’s top manufacturer of memory chips and flat-screen TVs, Samsung, invest the money in the next five years on the biosimilar business, according to Edaily.

“Biosimilars is one the businesses we aim to grow strategically,” said James Chung, a Samsung spokesman. “We are planning to participate (in the business) aggressively.”

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