Fiance Minister Hong Nam-ki said that the government will seek ways to foster the bio-health sector as a key pillar industry of the nation.

In a meeting with the heads of economy-related ministries in Seoul on Wednesday, the chief economic policymaker said that if the nation capitalizes on its ICT and excellent medical professionals and hospitals, it can nurture the bio-health industry as a key industry, like semiconductors. 

The minister said the government will soon produce and unveil a set of comprehensive measures that focus on research and development and deregulation.

Hong said bio-health is a promising sector that is expected to grow by an average of five-point-four percent a year and expand into a ten-trillion dollar global market by 2022.