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ASEAN and Korean companies seek greater cooperation in bio/pharmaceutical industries amid COVID-19

PRESS RELEASE
No.PR/21-15DateAugust 30, 2021
ContactProgram Inquiries: Jang Boo-young, Program Officer, TIU (02-2287-1138, byjang@aseankorea.org)Press Inquiries: Hwang Jiseon, Senior Officer, IDU (+82-2-2287-1149, hjs@aseankorea.org)
ASEAN-Korea Centre is an International Organization mandated to promote economic and socio-cultural cooperation between ASEAN Member States and Korea.

 

ASEAN and Korean companies seek greater cooperation in bio/pharmaceutical industries amid COVID-19

- ‘ASEAN-Korea Bio Partnering Week’ to be held in conjunction with the Bioplus-Interphex Korea 2021 (Aug 31-Sep 15) -

- 40 pharmaceutical and biotech companies from 7 ASEAN countries to conduct online meetings with their Korean counterparts -


 

Seoul, Korea - The ASEAN Korea Centre (Secretary General Kim Hae-yong) will organize the ‘ASEAN-Korea Bio Week 2021’ on August 31-September 15, 2021, in conjunction with the “BIOPlus-Interphex Korea 2021,” one of the largest pharmaceutical and biotech conferences in Korea. 40 companies from 7 ASEAN Member States ? Brunei, Indonesia, Lao PDR, Malaysia, Philippine, Singapore, and Vietnam ? will be invited to explore new partnerships with their Korean counterparts through online business meetings.

 

With increasing demands for international collaboration in disease control, public health, and medical sectors amidst the COVID-19, participating companies will come from various fields such as biotechnology, pharmaceutical, medical devices, supplement products, functional food, and relevant services. During the 16-day-long online event, they will conduct un-tact online business meetings with Korean investors and companies to seek cooperation and explore business opportunities in the import/export of products and services, investment consultations, establishment of joint ventures, marketing, R&D, technical cooperation, etc.

 

As countries around the globe deal with multiple challenges such as the pandemic and climate change, both ASEAN and Korea expect rapid growth in their bio-health and pharmaceutical industries as well as greater partnership with overseas companies. Amidst the soaring demands stemming from the global COVID-19 situation, the Korean bio-health industry saw record-high exports of 14.1 billion, up by 54% from the previous year, being ranked in the country’s top 10 exports for the first time in 2020. Considering the growing significance of the bio industries in ASEAN and Korea as a new growth engine, the ASEAN-Korea Bio Partnering Week will be a timely event to bring ASEAN and Korean companies in the relevant fields to build stronger partnership.

 

The ASEAN-Korea Centre has provided a venue to facilitate business exchanges and cooperation between ASEAN and Korea in the bio industry since the signing of a Memorandum of Understanding (MoU) with the Korea Biotechnology Industry Organization (KoreaBio) in May 2019.

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