An international pharmaceutical exhibition opened at the Korea International Exhibition and Convention Center (KINTEX) in Ilsan on Tuesday, showcasing latest raw materials and finished products.
The Korea Pharm & Bio 2018, an eighth edition of the business-to-business exhibition, was hosted by the Ministry of Food and Drug Safety and the Korea Pharmaceutical and Bio-Pharma Manufacturers Association (KPBMA). Visitors can look around finished drugs, biopharmaceuticals, raw materials, medicines and bio-related services in one place.
To meet the growing demands in biopharmaceuticals overseas, organizers changed the name of the event from “International Pharmaceutical Ingredient Exhibition” to “Korea Pharm & Bio” this year.
Medium-sized drugmakers such as Daewon Pharm, Sinsin Pharm, Korea Arlico Pharm, Inist, Taiguk Pharm, Korea Pharma, and Huons will promote their flagship finished products and offer one-on-one consultations with foreign buyers.
In the section of raw materials, Korean firms including Daejung Chemical and Metals and Samchun Chemicals will engage in international exchanges with foreign government entities such as the China Council for the Promotion of International Trade (CCPIT) and the India Trade Promotion Organization (ITPO).
India, which has one of the largest pharmaceutical markets in the world, is attending the Korean event every year. From China, the CCPIT’s chemicals division and individual business entities are participating.
In the field of pharmaceuticals, biotech research, clinical and analytical services, the Daegu Gyeongbuk Advanced Medical Industry Promotion Foundation, Life Science Laboratories, SLS Bio, and LSK Global PS will participate in the exhibition.
DuPont Korea will exhibit solutions for sensitive areas such as cleanroom protective clothing, air cargo covers, and medical packaging. Samsung Medical Rubber, which develops medical rubber products, will promote its next-generation, “Teflon laminated” rubber stoppers.
Organizers will hold various events to promote the excellence of Korean drugmakers and support exports.
For one-on-one consultations, the organizers will also invite buyers from 25 foreign companies interested in local pharmaceuticals, raw materials, cosmetics materials, and technology imports. The companies come from Romania, Myanmar, Vietnam, Singapore, the United Arab Emirates, India, Indonesia, Japan, China, Thailand, the Philippines, and Hungary.
"The pharmaceutical industry is a new growth engine and a hope for the economy. The domestic pharmaceutical sector has surpassed 20 trillion won ($18.7 billion) in sales for the first time, and pharmaceutical exports have increased 11.5 percent annually on average over the past five years," said Lee Won-shik, director of the food and drug safety division at the ministry, at the opening ceremony. "I hope that this exhibition will be meaningful in that it can contribute to policymaking jointly by companies and the government and promoting trade exchanges.”
KPBMA’s board chair Lee Jung-hee said, “Every year, Korea’s pharmaceutical and biotech sector is seeing progress in international competitiveness. The Korea Pharm & Bio will be a good opportunity to disseminate the nation’s such capability.”
Participants in the opening ceremony also included KPBMA Vice Chairman Gal Won-il, Korea Pharmaceutical Traders Association Chairman Oh Jang-seok, Korea Biomedicine Industry Association Executive Director Park Jeong-tae and Ahn-Gook Pharmaceutical Vice Chairman Eo Jin.