The National Bio-Innovation Committee held its first official meeting with chief executive officers (CEOs) from Korea's pharmaceutical and biotech industry to discuss ways to innovate new drug development, boost investment, and strengthen international competitiveness.
The National Bio-Innovation Committee (the committee) and the Korea Pharmaceutical and Bio-Pharma Manufacturers Association (KPBMA) said they held a meeting with the KPBMA board chairs at Seoul Square in Jung-gu, Seoul, on the 15th to hear on-site views.
This meeting was the first official communication with industry since the committee's launch. The committee said it arranged the session to systematically identify and carry out key tasks by continuously reflecting on-site needs in policy and strengthening public-private cooperation.
Attending from the committee were Vice Chairperson Won Hee-mok; Chairperson Yang Seong-il of the Regulatory Special Committee; Support Director Kim Gu-nyeon; Director General Lee Young-ho of the Technology Innovation Bureau; Director General Yoon Sung-hoon of the Investment Strategy Bureau; and Director General Kim Sang-hee of the Industrial Promotion Bureau.
From the industry, attendees included KPBMA President Roh Yeon-hong; Chong Kun Dang pharmaceutical President Kim Young-joo; Guju Pharmaceutical Chairman Kim Woo-tae; LG Chem Life Sciences Company President Son Ji-woong; JW Pharmaceutical President Shin Young-seop; SK bioscience President Ahn Jae-yong; Huons Group Chairman Yoon Sung-tae; Ildong Pharmaceutical Chairman Yoon Woong-seop; Chung Jae-hoon, CEO of Dong-A ST; Yuhan President Cho Wook-je; Hanmi Pharmaceutical CEO Hwang Sang-yeon; and KPBMA Vice President Lee Jae-guk and Executive Director Um Seung-in.
Corporations' CEOs proposed policy tasks and institutional improvements to enhance industrial competitiveness and relayed difficulties felt on the research and development (R&D) front lines. The committee sought support measures and directions for cooperation in response.
Participants identified as key tasks: ▲ promoting research and development (R&D) and building an innovative ecosystem for new drug development, ▲ revitalizing open innovation, ▲ improving the research and development investment environment, ▲ strengthening global production and export competitiveness, and ▲ expanding the foundation for stable supply of essential medicines. They also discussed strategies to innovate research and development using artificial intelligence (AI), which has recently emerged as a central topic across the industry, and ways to strengthen industrial competitiveness.
Both sides reached a consensus that, amid intensifying global bio competition, the government and industry must work closely to advance the innovation ecosystem and enhance the global market competitiveness of domestic corporations.
National Bio-Innovation Committee Vice Chairperson Won Hee-mok said, "As a single governance body that oversees and coordinates pharmaceutical and bio policy, the National Bio-Innovation Committee will serve as a platform for industrial innovation," adding, "We will continue to communicate with the pharmaceutical and biotech industry and, together with the relevant ministries, prepare effective support measures so the industry's capabilities can translate into global competitiveness."
KPBMA President Roh Yeon-hong said, "Today's meeting was a meaningful venue to share vivid on-site opinions with the government and seek solutions together," and added, "We hope the industry's various proposals—such as innovation in new drug development, boosting investment, and expanding global entry—will be faithfully reflected in policy to enhance industrial competitiveness and accelerate a global leap forward."