Establishment of 'Pharmaceutical Sovereignty' Project Plan and Budget Confirmed
Lee Geum-gi, Ildong Foodis Chairman, Receives 'Pharmaceutical Industry Award'
Chairman Won Hee-mok Completes 6-Year Term and Holds Farewell Ceremony
Won Hee-mok, Chairman of the Korea Pharmaceutical and Bio-Pharma Manufacturers Association, delivers the opening address at the 78th General Meeting on the 21st. [Photo by Korea Pharmaceutical and Bio-Pharma Manufacturers Association]
[Asia Economy Reporter Lee Gwan-ju] The Korea Pharmaceutical and Bio-Pharma Manufacturers Association will focus on creating an ecosystem for blockbuster new drug development and enhancing industrial competitiveness this year.
On the 21st, the Korea Pharmaceutical and Bio-Pharma Manufacturers Association held its 78th regular general meeting at the association's auditorium on the 4th floor in Bangbae-dong, Seocho-gu, Seoul, where it approved and finalized the business plan and a budget of 8,542,520,000 KRW for this year. The meeting also received reports on the appointment of former MFDS Commissioner Noh Yeon-hong as the next president and the appointment of current president Won Hee-mok as an advisor.
The general meeting set the business goals as "Establishing Pharmaceutical Sovereignty" and "Building an Open Innovation Ecosystem," and finalized a business plan containing four major strategies and 16 core tasks to achieve these goals. Specifically, the association plans to establish a strategic R&D investment system and expand mega funds to create an ecosystem for blockbuster new drug development. It also aims to increase the self-sufficiency rate of pharmaceuticals and enhance industrial competitiveness by strengthening the development and production base of raw materials, essential medicines, and vaccines, as well as innovating generic drug quality and manufacturing processes. Furthermore, regarding support for overseas market entry, the association plans to accelerate entry into advanced markets such as the United States and Europe, as well as emerging markets in Asia and Latin America, and actively respond to paradigm shifts such as digital transformation and convergence in the industry.
In his opening remarks, President Won Hee-mok emphasized, "The pharmaceutical and bio industry has now established itself as a future growth engine for the nation," adding, "There are many signs of hope in areas such as pharmaceutical and new drug technology exports, blockbuster new drug development capabilities, and market approvals in advanced countries." He further stated, "To lay the foundation for becoming a pharmaceutical powerhouse by establishing pharmaceutical sovereignty, we must enhance industrial competitiveness and accelerate overseas expansion," and added, "Comprehensive open innovation will be the driving force that makes this possible."
Chairman Lee Geum-gi of Ildong Foodis (second from the left) is receiving the 4th Pharmaceutical Industry Award and posing for a commemorative photo. From the left, Won Hee-mok, Chairman of the Korea Pharmaceutical and Bio-Pharma Manufacturers Association; Chairman Lee; Choi Kwang-hoon, President of the Korean Pharmaceutical Association; and Cho Sun-hye, President of the Korea Drug Distribution Association. [Photo by Korea Pharmaceutical and Bio-Pharma Manufacturers Association]
At the general meeting, the 4th Korea Pharmaceutical Industry Awards ceremony was also held, jointly presented by three pharmaceutical industry organizations: the Korea Pharmaceutical and Bio-Pharma Manufacturers Association, the Korean Pharmaceutical Association, and the Korea Pharmaceutical Distribution Association, to individuals who have contributed to the improvement of public health. The awardee this year was Chairman Lee Geum-gi of Ildong Foodis. Chairman Lee was recognized for his contributions to the development of vitamin technology and the localization of anticancer drugs and antibiotics while leading Ildong Pharmaceutical. Additionally, a plaque of appreciation was awarded to Chairman Lee Jang-han of Chong Kun Dang, who served as the 5th chairman of the association.
Moreover, a farewell ceremony was held for President Won, who completed his six-year term, and a plaque of appreciation was presented. President Won said, "I am confident that the day of a great leap forward, when the industry enters the global advanced industry, will come soon," and added, "Although I am stepping down from the presidency, I promise to willingly continue participating for the future of our industry and association."
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