Korea fuels development of med devices hub:
This article was originally published in Clinica
South Korea is officially launching a project to establish a medical equipment industrial zone in the northern region of Wonju in 2005. The government will inject 100bn won ($86m) into the scheme each year until 2008, when the medical equipment hub is expected to be fully established, according to consulting firm Pacific Bridge. It is hoped that the industrial zone will generate over 448bn won-worth of medical equipment within a year of the launch and house over 180 companies by 2007. Currently, the Wonju region accounts for about 40% of medical equipment exports in Korea, with forecasts of this figure doubling within the next few years.
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