Korea-China Pharmaceutical Bio Association Holds 'Open Innovation Forum'

Korea Pharmaceutical and Bio-Pharma Manufacturers Association

[Asia Economy Reporter Lee Gwan-ju] The Korea Pharmaceutical and Bio-Pharma Manufacturers Association held an 'Open Innovation Forum' with the China Chemical Pharmaceutical Industry Association via video conference on the 18th.

The two associations have regularly held forums to introduce Korea-China pharmaceutical policies and discuss major issues, but have faced difficulties in hosting events since 2020 due to COVID-19. This forum was organized as part of the 'Korea-China Bio & Healthcare Conference 2022,' commemorating the 30th anniversary of diplomatic relations between the two countries, hosted by the Consulate General in Guangzhou and the Korea Health Industry Development Institute.

The forum covered topics including ▲Trends and prospects of the Chinese pharmaceutical market (Wu Qiaoyi, Vice Chairman of the China Pharmaceutical Biotechnology Association) ▲Trends and prospects of the Korean pharmaceutical market (Lee Hyun-woo, Head of Global Division, Korea Pharmaceutical and Bio-Pharma Manufacturers Association) ▲Current status and development strategies of AI-based new drug development in Korea (Kim Woo-yeon, Director of the AI New Drug Development Support Center) ▲Current status of AI-based new drug development in China (Huang Chongha, CEO of Wonga Bio Group) ▲Strategies for registering imported pharmaceuticals in China (Liu Jin'an, RA Director of TigerMed) ▲Import policies and related regulations for active pharmaceutical ingredients (Choi Jin-kyung, Director of Samo Pharmaceutical), among others.

The association plans to resume regular forums at the association level between the two countries starting next year, when COVID-19 is expected to subside. Additionally, it will strengthen exchanges through irregular briefings and dispatching delegations to provide practical support for domestic pharmaceutical and bio companies entering the Chinese market.