Founded in October 1945 immediately after liberation as the Joseon Pharmaceutical Industry Association, the Korea Pharmaceutical and Bio-Pharma Manufacturers Association (KPBMA) marks its 80th anniversary. The association has declared this year the first year of the "golden time" for a global leap in the pharmaceutical and bio industry and will begin full-fledged steps toward realizing a "K-pharmaceutical and bio powerhouse."
Noh Yeon-hong, president of the Korea Pharmaceutical and Bio-Pharma Manufacturers Association (KPBMA), said at the 80th anniversary ceremony held on the 24th at the main auditorium of the association's headquarters in Seocho-gu, Seoul, "Korea's pharmaceutical and bio industry has now grown into an industry with world-class research and development (R&D) capabilities and is drawing attention in the global market," adding, "The association will prepare thoroughly to strengthen the industry's future competitiveness amid a rapidly changing technological environment."
Noh particularly emphasized, "Advances in cutting-edge technologies such as AI (artificial intelligence) are fundamentally changing the paradigm of the pharmaceutical and bio industry," adding, "The association will strengthen the industry's AI-based new drug development capabilities centered on the AI New Drug Research Institute and respond proactively to the sweeping wave of change."
To mark the 80th anniversary, the association also carried out various commemorative projects. These include a commemorative emblem and slogan contest, establishing "Pharmaceutical and Bio Vision 2030," building a future hall, and creating a digital history museum.
At the event, Lee Kwan-soon, chair of the association's Future Vision Committee, officially proclaimed "Pharmaceutical and Bio Vision 2030." The vision includes goals such as "leaping to a leading country in new drug development," including 15% R&D investment and creating five drugs with 1 trillion won in sales; "boosting global performance," including 50% overseas sales share and fostering five of the global top 50 corporations; and "building a public health safety net," including 100% supply of essential medicines and achieving a 50% self-sufficiency rate for raw materials and essential preventive vaccines.
After the ceremony, a completion ceremony was held for the newly finished "Future Hall." The Future Hall is a space symbolizing a new leap for the industry, and will house a smart office and conference rooms that member companies and visitors can use together, the AI New Drug Research Institute, and the AI new drug development self-driving laboratory (SDL), which is under establishment.