Korea Pharmaceutical and Bio-Pharma Association Supports Domestic and International Networking at 'Bio Europe'

At the "Korea-Europe Networking Dinner" held in Leipzig, Germany on the 24th, the speakers are taking a commemorative photo. Minji Kim and Jimin Lee, PMs of the Global Headquarters at the Korea Pharmaceutical and Bio-Pharma Manufacturers Association; Hyunwoo Lee, Head of the Global Headquarters at the Pharmaceutical and Bio-Pharma Manufacturers Association; Marc Dechamps, Director of International Cooperation at BioWin Belgium; Youngmi Lee, Executive Director at Hanmi Pharmaceutical; Hanjo Kim, Head of Global Strategy at Standigm; Stephanie Bennelt, Director of International Cooperation at BioM Germany; Jaeyoung Lee, Director of the ToolGen Research Institute; Hangon Kim, European Regional Representative at Yuhan Corporation (from left).

[Asia Economy Reporter Chunhee Lee] The Korea Pharmaceutical and Bio-Pharma Manufacturers Association announced on the 27th that it participated in 'BIO EUROPE 2022,' held from the 24th to 26th in Leipzig, Germany, to promote the competitiveness of Korea's pharmaceutical and bio industries and support domestic pharmaceutical companies.

This Bio Europe is the largest technology trading platform in the pharmaceutical and bio sectors in Europe. Especially due to the impact of the COVID-19 pandemic, it was held offline for the first time in three years, with a total of 2,340 companies from 64 countries participating. Among domestic companies, 192 companies including Yuhan Corporation, Hanmi Pharmaceutical, and SK Chemicals participated. By country, Korea ranked fourth in the number of participating companies after the United States, Germany, and the United Kingdom.

The delegation from the Pharmaceutical and Bio-Pharma Manufacturers Association decided to discover specific cooperative projects through partnering meetings with major pharmaceutical and bio-related associations, clusters, and research institutions located in Europe, including the United Kingdom, Switzerland, and Germany, at this Bio Europe. They also agreed to continue discussions on signing MOUs related to business cooperation and exchange programs for delegations.

Additionally, they reached a consensus to expand cooperation such as joint research with the Max Planck Institute in Germany, which has produced numerous Nobel laureates. They also decided to explore specific cooperation plans between companies in Korea and those in Munich, Germany, with the Munich bio cluster 'BioM.' Munich is the largest pharmaceutical and bio cluster even within Germany, a leading pharmaceutical and bio powerhouse. BioM stated, "We plan to co-host the event as the regional host at Bio Europe to be held in Munich next year," and requested active participation from the Korean pharmaceutical industry.

On the evening of the 24th, a 'Korea-EU Networking Dinner' event was held with major European clusters and pharmaceutical companies. About 100 officials from institutions and pharmaceutical and bio companies based in Korea and Europe attended the event, fostering active exchanges. At the event, Yuhan Corporation, Hanmi Pharmaceutical, Standigm, and ToolGen presented their key pipelines, while BioM and Belgium's Wallonia bio cluster 'BioWin' introduced the unique strengths of their clusters, promising R&D fields of their member companies, and future cooperation directions with Korea. Belgium is considered an advanced pharmaceutical and bio country, investing more than 40% of its national research and development (R&D) budget in the pharmaceutical and bio sectors.

Hyunwoo Lee, Head of the Global Division at the Pharmaceutical and Bio-Pharma Manufacturers Association, said, "It was a meaningful opportunity to widely promote the excellence of Korea's pharmaceutical and bio industries and pharmaceutical companies," adding, "We plan to actively support domestic companies' entry into Europe by promoting open innovation with major European bio clusters and discovering specific cooperation demands with pharmaceutical advanced countries such as Belgium, Germany, and Switzerland."

A representative from a German pharmaceutical company who participated in the event said, "Interest from European companies in the Korean pharmaceutical industry has significantly increased after the COVID-19 pandemic," and added, "It is very encouraging to attend a venue to discuss partnerships with Korean companies."