K-Pharma Bio Development MOU Signed by Korea Pharmaceutical Bio Association and Jeju Technopark

On the 11th, at the Pharmaceutical Hall in Seocho-gu, Seoul, Won Hee-mok, Chairman of the Korea Pharmaceutical and Bio-Pharma Manufacturers Association (right), and Ryu Seong-pil, Acting Director of Jeju Technopark, signed a business agreement and took a commemorative photo.

[Asia Economy Reporter Lee Gwan-ju] The Korea Pharmaceutical and Bio-Pharma Manufacturers Association signed a Memorandum of Understanding (MOU) on mutual cooperation for the development of K-Pharmaceutical and Bio-Pharma with Jeju Technopark on the 11th.

Through this agreement, the two organizations will strengthen the cooperative system to attract investment from pharmaceutical and bio-pharma companies to Jeju and create an exchange network environment between institutions and companies. To this end, they agreed to collaborate on ▲discovering and proposing policies, projects, and regulatory improvements for the development of the K-Pharmaceutical and Bio-Pharma industry ▲exchange of the latest research information and human resources ▲corporate relocation through investment attraction activities to promote regional balanced development and build an innovative ecosystem.

Won Hee-mok, Chairman of the Korea Pharmaceutical and Bio-Pharma Manufacturers Association, said, “Mutual exchange of research, human resources, materials, and information, such as discovering new drug substances using Jeju’s natural resources, will be a great strength for our industry, which is challenging itself to become a new leader in the global pharmaceutical and bio-pharma market.” He added, “We look forward to the mutual development of the pharmaceutical and bio-pharma industry and Jeju, and the realization of a successful model through open innovation between industry and region.”

Ryu Seong-pil, Acting Director of Jeju Technopark, stated, “Recently, Jeju region has been fostering the medical food industry and K-Beauty cluster, which are key future industries of the Jeju National Innovation Cluster, as part of the new government’s regional pledges and the 8th Jeju provincial government’s campaign promises.” He added, “We will focus our capabilities to establish a new pharmaceutical and bio-pharma industrial ecosystem in Jeju and achieve tangible results in strengthening national competitiveness.”