Korea’s Government-Funded Venture into Oncology
National OncoVenture (NOV) is Korea’s Ministry of Health and Welfare funded oncology drug development program to nurture oncology innovation in the country. To maintain high access and limit costs of…
The Korea Medical Devices Industry Association (KMDIA) is a trade association committed to improving public health and development of the industry by advocating companies that manufacture, import, export, or sell medical devices since its foundation in 1999.
The Association has around 750 members, bringing these companies together to share information and experience to disseminate the latest technologies and facilitate access to high-quality, affordable medical devices in Korea. The KMDIA is a valuable partner to government authorities such as the Ministry of Health and Welfare and the Ministry of Food and Drug Safety actively presenting policy proposals and regulation ideas, while offering extensive support to Korean medical devices manufacturers compete and grow further in the global market.
The medical devices industry continues rapid growth despite economic slowdown across the world. The factors that drive such growth include: aging society, growing anti-aging industry as a result of higher income, greater interest in health and wellness, government policies that value higher standard of life, emerging latest technologies and biomedical innovation. The Korean government designated the medical devices industry as one of its priority “growth engines” aspiring to lift Korea to global top 5 in the industry by 2018.
The Association also supports foreign and multi-national medical devices companies by providing market intelligence and statistics while assisting them in regulatory and approval procedures. Local and foreign firms are brought together to enter into business discussion and invited to exhibitions hosted by the KMDIA. The MOUs with the counterparts in different regions, such as AdvaMed and EucoMed, are part of the efforts to build networks and promote interactions among member companies, to eventually promote Korea as an attractive market.
The KMDIA is a dedicated partner to all members who seek assistance and partnership.
Contact details:
8~9F, Yeosam Bldg, 123 Teheran-ro, Gangnam-gu, Seoul Korea (135-748)
Tel: +82 2 596 7404
Fax: +82 2 596 7401
kmdia@kmdia.or.kr
www.kmdia.or.kr
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