South Korea Targets Southeast Asia for Bio Industry Expansion

The Ministry of Trade, Industry and Energy, alongside the Korea Trade-Investment Promotion Agency (KOTRA) and the Korea Pharmaceutical Traders Association, has launched a groundbreaking Southeast Asia Biomedical Export Roadshow. This initiative, running from April 21-25, aims to diversify export markets for South Korea's thriving bio industry by engaging with key markets in Kuala Lumpur, Jakarta, and Manila.

Engaging with Southeast Asia's Growing Healthcare Demand

With 20 leading pharmaceutical and medical device companies participating, the roadshow facilitates over 350 business meetings with 100 overseas buyers. Focus areas include products for aging populations, chronic diseases, skincare, beauty, and orthopedic surgery devices, tapping into the region's escalating demand for advanced medical solutions.

Strategic Markets Highlighted

Malaysia, Indonesia, and the Philippines are at the forefront of medical infrastructure and healthcare system expansion. Malaysia's focus on medical tourism and bio industry innovation, the Philippines' rising chronic disease rates, and Indonesia's healthcare reforms underscore the strategic importance of these markets for South Korean exports.

Industry Leaders Weigh In

"Direct engagement with buyers is crucial for promoting exports," stated Ryu Hyung-sun, chairman of the Korea Pharmaceutical Traders Association, highlighting the global recognition of Korea's Good Manufacturing Practice standards. Kim Myung-hee of KOTRA emphasized the need to explore emerging markets like Southeast Asia amidst global trade shifts, ensuring stable overseas markets for Korean companies.