The Global Alliance Project with Novo Nordisk conference kicked off Monday at the Hilton Hotel in downtown Seoul to foster business and research and development collaborations among the Danish pharmaceutical giant and Korean organizations.

For the conference, the Korea Trade-Investment Promotion Agency (KOTRA), Novo Nordisk and the Embassy of Denmark invited officials from a myriad of Korean health-care related organizations.

Korean biopharmaceutical companies, research institutions, and hospitals may apply for alliance proposals with Novo Nordisk through the Global Alliance Project Series (GAPS) until the end of October, a KOTRA official said.

“We are about to enter the Fourth Industrial Revolution. In response to the rapidly changing environment, we are working to meet fast transformation. It is now more important than ever for Korean companies to build relationships with Novo Nordisk, one of the leading pharmaceutical companies with leading technologies and expertise,” said Kim Young-kook, the head of Invest Korea.

In the afternoon, the conference dealt with the issue of fostering business relationships and cooperation between local pharmaceutical companies and Novo Nordisk.

Novo Nordisk is Denmark’s largest pharmaceutical biotech company, which chose to come to Korea to expand its business while seeking alliance, according to Søren Bregenholt, Novo Nordisk’s vice president for corporate affairs.