The Korea Pharmaceutical and Bio-Pharma Manufacturers Association (KPBMA), which celebrates its 80th anniversary this year, has decided to establish the “Pharmaceutical and Biotechnology Vision 2030” and lay the foundation for another leap toward its 100th year.

On Tuesday, the association held its 80th general meeting at its headquarters office in Bangbae-dong, southern Seoul. The meeting approved and finalized the 2025 budget totaling 12.4 billion won ($8.65 million), including 3.58 billion won for celebrating its 80th anniversary and business plan. It also approved the financial statements for 2024 and amendments to the articles of incorporation to address deficiencies in the current one.

The meeting also reported the reappointment of President Noh Yun-hong and advisor Won Hee-mok, which was decided at this year’s first meeting of the board of directors on Tuesday last week.

“KPBMA, which started as the Korea Pharmaceutical Industry Association in 1945, is preparing to make a great leap toward 100 years based on its 80-year history of challenges and innovation,” President Noh said in his opening remarks. “We will enhance our capability to research and develop new drugs in response to the industrial paradigm shift, prove our competitiveness and future value by targeting customized overseas markets, and strive to establish ethical management to become an industry trusted by the people.”

At the opening ceremony held before the general assembly, the Sixth Korea Pharma Awards were presented, and a plaque and golden medal were awarded to the winner of the Pharma & Bio category, Ryu Deok-hee, honorary chairman of KyungDong Pharmaceutical (eighth president of KPBMA). Honorary Chairman Ryu is the founder of KyungDong Pharmaceutical and has served as the chairman of the board of directors of the KPBMA and the Korea Pharmaceutical Industry Cooperative, laying the foundation for the development of the Korean pharmaceutical and biotech industry, as well as establishing the Songcheon Foundation for scholarships based on his unique philosophy of sharing.

To realize its vision of “K-Pharma, a healthy future for Korea,” the association has set three business goals -- becoming a leading country in new drug development, enhancing global performance, and building a national health safety net by strengthening manufacturing capabilities.

To materialize these goals, the association has established three strategies and 12 detailed tasks, including establishing an innovative growth ecosystem for new drug development, enhancing the global competitiveness of pharma and biotech, improving access to medicines, and strengthening social responsibility.

It will also actively promote the 80th-anniversary commemoration program.

The association plans to carry out future vision projects, such as establishing a pharma bio vision 2030, contesting for emblems and slogans, and building a (tentative) future hall, as well as promotional projects such as building a digital history museum and creating an exhibition hall, producing an 80-year history, publishing a white paper on new drugs developed in Korea and a white paper on drug advertisements, pharma bio open house, and advertising and campaign exhibitions, and academic events, such as the Global Conference on New Drug Development, AI Pharma Korea Conference, Manufacturing Innovation Forum, and the 80th-anniversary ceremony and opening ceremony of the Future Hall.

Many guests attended the general meeting.

Among them were Rep. Han Ji-ah of the People Power Party, Rep. Lee Joo-Young of the Reform Party, Chung Eun-young, director-general of Health Industry Policy Bureau at the Ministry of Health and Welfare, Kim Sang-bong, director-general of Drug Safety Bureau at the Ministry of Food and Drug Safety, Choi Kwang-hoon, president of the Korea Pharmaceutical Association, which jointly establishes and awards the Korea Pharma Awards, and Park Ho-young, president of the Korea Pharmaceutical Distribution Association.