This paper analyses the development of South Korea's hepatitis B vaccine industry. In particular, it examines how intellectual property and drug and vaccine regulations affected the industry's development.

Growth of South Korea's hepatitis B vaccine industry was supported by joint ventures allowing the acquisition of foreign knowledge, the potential market for the vaccine and the availability of skilled manpower. Also vital to the process were improvements in South Korea's regulations, which brought them more into line with international standards. The authors show that South Korea's success has policy implications for other countries. To reach the higher stages of innovative development in the biomedical industry, they say, developing countries examine R&D in the public and private sectors, high manufacturing standards, national and international distribution systems, intellectual property systems and regulatory systems.