BIO Korea 2024 kicks off 3-day run in Seoul
The annual BIO Korea convention, co-hosted by North Chungcheong Province and the Korea Health Industry Development Institute (KHIDI), kicked off its three-day run at the COEX Convention Hall C on Wednesday.
Now in its 19th year, the event this year carries the theme "Future of Bio-Innovative Technologies and Global Collaboration."
BIO Korea is a prominent international health industry exhibition that introduces cutting-edge bio-health technologies and fosters collaboration between Korean and international companies through business partnering, investment conferences, exhibitions, and academic programs.
This year, the event is expected to attract over 30,000 visitors with participation from 641 companies representing 55 countries.
The exhibition features 438 booths across various thematic zones, representing 333 organizations from 23 countries, including pharmaceutical companies, contract development and manufacturing organizations (CDMOs), contract research organizations (CROs), research institutions, and national pavilions.
The conference also encompasses 10 topics and 11 sessions, featuring leading experts from nine countries, including about 60 top-tier bio-health professionals. The discussions will focus on subjects like next-generation drug platforms and global open innovation.
Aside from sessions and booths, the event also focuses on business partnering, where pre-matched companies, investors, and researchers can meet onsite or online to promote joint research, technology transfer, and investment, facilitating open innovation.
Industry giants like Eli Lilly, Takeda, MSD, Sanofi, Roche, Boehringer Ingelheim, and Johnson & Johnson, along with prominent Korean pharmaceutical companies such as SK bioscience, GC Biopharma, and Hanmi Pharm, will participate, offering an opportunity for bio ventures seeking collaborations with established pharmaceutical companies.
Investment conferences will delve into the growth and potential of Korea's bio-health industry, as seen through the lens of global investment firms.
Firms like Premier Partners, LSK Investment, and Yuanta Investment will join global venture investors such as ARCH Venture Partners and Teralys Capital to analyze trends and prospects.
Health and Welfare Minister Cho Kyoo-hong expressed optimism about BIO Korea's role in igniting open innovation collaborations.
“Global companies are already showing significant interest in Korean biopharmaceutical firms,” said Cho during the opening ceremony of the event. “We expect that BIO Korea will become a catalyst for open innovation collaboration, helping our companies with next-generation innovative technologies expand globally."
To help Korea become a global leader in biohealth, the government will ensure the smooth development of bio-innovation technologies and the establishment of a global cooperation ecosystem by expanding R&D support, creating mega-funds, supporting exports, nurturing specialized talent, and improving regulations, Cho added.
North Chungcheong Province Governor Kim Young-hwan also highlighted the importance of the event in the "era of bio-transformation," emphasizing hopes that it will serve as a launchpad for advanced bio innovation and global market entry.
KHIDI President Cha Soon-do stressed the importance of fostering a collaborative business environment, hoping that BIO Korea will provide a platform for Korean technologies to thrive globally.
“I hope this event will be a place where researchers, companies, and institutions in the biohealth industry, both domestic and international, can come together, share business strategies, and explore opportunities for collaboration,” Cha said. “I also wish that through BIO Korea, our country's excellent technologies will have a platform to reach the world."