Interview with Young Jack Lee, President, LSK Global PS
South Korea has a short history of participating in global clinical trials, but now the country is seeing exponential growth in this area. What has changed in recent years leading…
The Korea Pharmaceutical Manufacturers Association, since its foundation in 1945, along with pharmaceutical companies, has been committed to improve healthcare for all mankind and develop pharmaceutical industry.
With about 190 member companies, KPMA expanded R&D investments since the implementation of Drug Substance Patent Law in 1987 to place Korea in the world’s 10th country to commercialize new molecular entities in 2003. Up until the end of 2008, 14 new molecular entities products were developed in the country, with 45 projects from 29 companies undergoing clinical studies, 61 potential candidates currently under new drugs development phases and 40 cases of licensing out in 14 countries.
In order to manufacture safe medicines of the highest quality, 65 companies collectively invested 2 trillion won to upgrade manufacturing plants in compliance with c-GMP standards. In addition, to increase credibility in the international pharmaceutical market, Fair Competition Committee was established and Hotline Reporting Center for code compliance complaints was activated to escalate efforts in making all transaction as fair as possible. Market size of Korean pharmaceutical industry, gauged by values of drugs manufactured, in 2000 was 7.89 trillion won and the size grew substantially to 13.43 trillion won in 2007, almost doubling the size. Such a significant increase is attributed to rapid aging of the population, external and political factors that favorably affected the industry as well as continuous investments in R&D and GMP upgrades.
KPMA aims to strengthen collaboration of Korean companies with pharmaceutical companies already having experience in product launches in the overseas markets.
Contact details
161 Hyoryeong-ro, Seocho-gu, Seoul 137-849 Korea
TEL: +82 2 581 2101 / 2102
FAX: +82 2 581 2106
http://www.kpma.or.kr
kpma@kpma.or.kr
South Korea has a short history of participating in global clinical trials, but now the country is seeing exponential growth in this area. What has changed in recent years leading…
What are the main milestones and achievements of Daewoong’s pharmaceutical business over its decades of evolution? Daewoong was first established in 1945 as Chosun Liver-oil Pharmaceutical Industry Co., Ltd. The…
Could you provide our international readers with a profile of Bioneer as it stands today? Bioneer, having a strong basis of technology and experiences in molecular biology since 1992, we…
Although Chungcheongbuk-do is a small province in terms of territory and population, it has gained increasing importance in Korea’s economy. What are the main drivers of this growing economic progression?…
How did you first get involved in clinical trials and what inspired you to create your own CRO, ADM Korea? When I was working at CJ, the company was starting…
Could you please introduce KPMA and explain the role it plays within the South Korean pharmaceutical industry? KPMA is the only association in South Korea regrouping the whole range of…
Since KRPIA’s creation in 1999, what would you say have been its main achievements in the South Korean pharmaceutical landscape? KRPIA’s foremost achievement during its existence has been its contribution…
What was the vision behind the creation of the Korea Drug Research Association and its main role in the pharmaceutical sector? Until the middle of the 1980s when Korea Drug…
Could you briefly introduce VGX International to our readers, and in particular explain its relation to US-based company VGX Pharmaceutical (VGXP)? The backbone of VGXP is the University of Pennsylvania…
You have been in S. Korea for a little over a year, following international assignments in Vietnam and Thailand. Besides the fact that this is a much bigger market, what…
You have been working in the CRM industry, particularly with pharmaceutical companies, for more then 10 years. Could you briefly introduce to our readers how the CRM industry has evolved…
Could you please give a brief presentation of Invest Korea to our readers? Invest Korea is the national investment promotion agency, responsible for attracting FDI into Korea. We have existed…
See our Cookie Privacy Policy Here