South Korean biotech companies are working to diversify from China in anticipation that the US could tighten export restrictions on the sector to bolster its domestic industry and curb Chinese growth.
The Biden administration has identified biotechnology and biomanufacturing as strategic industries and is expected to introduce more specific measures within months.
The concerns in South Korea over one of its most important sectors for growth also highlight the collateral damage for third countries from rising tension between the US and China over supply chains and technology.
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