The Ministry of Health and Welfare said it would hold “2018 K-Pharma Academy” from Monday through Friday, jointly with the Ministry of Foreign Affairs. The organizers of the event are the Korea Health Industry Development Institute (KHIDI) and the Korea Pharmaceutical and Bio-Pharma Manufacturers Association (KPBMA).
Since 2013, Korea has been holding the annual program, inviting public health officials from various countries to promote the Korean healthcare industry and help local companies build an international network.
For the past five years, 75 officials from Latin American nations and 12 officials from China have visited Seoul for the program.
This year, 18 officials in charge of drug licensing in nine countries – seven from Commonwealth of Independent States, Mongolia, and Ukraine – and four officials associated with KPBMA will participate in the program. The seven participating countries from CIS include Russia and Uzbekistan.
The pharmaceutical markets of the nine participating nations are worth $257 million, taking up 2.3 percent of the global market. Despite the small share, their markets are likely to record double-digit growth, the ministry said.
The program will begin at the health and welfare ministry in Sejong on Monday. Participants will attend the lectures of local experts on the Korean medical system including the national health insurance program and drug safety management on Tuesday.
On the next day, health officials will visit Korea National Enterprise for Clinical Trials in Seoul and the Seoul National University Hospital’s clinical trial center to check the advanced facilities for clinical research. On Thursday, they are scheduled to visit state-of-the-art manufacturing sites of Ildong Pharmaceutical and Hanmi Pharmaceutical.
On the last day, Korean companies interested in cooperation with the participating countries can obtain related information at a forum at L-Tower in Seocho-gu, southern Seoul, from 9 a.m.
On Friday morning, an expert from Russia will make a presentation on the Eurasian Economic Union’s pharmaceutical licensing system. Government officials from four countries where Korean companies are highly interested will also introduce their drug advancement policies and licensing systems.
Officials in charge of pharmaceutical clusters in Russia and Kazakhstan will introduce market entry opportunities for Korean companies. Bundang Seoul National University Hospital will share its experience of preparing to enter Moscow International Medical Cluster in Skolkovo.
“We have prepared K-Pharma Academy to promote Korean medicine’s excellence to major Northern countries, where close cooperation is underway under the government’s New Northern Policy,” said Kim Hye-seon, an official at the health and welfare ministry’s international cooperation division. The New Northern Policy refers to the government’s push to expand economic cooperation with Russia, China, and their neighboring nations.
“I hope that Korean companies who are particularly interested in expanding business (in Northern countries) could get sufficient information by participating in the program.”