South Korea’s healthcare boom creates new billionaires
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South Korea's healthcare sector is booming, creating new billionaires as pharmaceutical companies pursue lucrative partnerships. Yoon Dae-in of Sam Chun Dang Pharm, with a net worth of $5.9 billion, ranks 10th among the nation's richest after a deal with Daiichi Sankyo for a weight-loss product. New entrants include Lee Sang-hoon of ABL Bio ($1.4 billion) and Hyuntae Kim of Voronoi ($1.3 billion). The rise of healthcare fortunes reflects a shift towards advanced R&D, with Korean firms signing more joint research agreements with global companies, marking a significant transition in the industry.
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