KOICA-MFDS Collaborate to Support Overseas Clinical Trials for COVID-19 Therapeutics and Vaccine Development

Strengthening Development Cooperation in Pharmaceutical Development Including Overseas Clinical Trials MOU Signed
KOICA and MFDS Join Forces to Support Overseas Clinical Trials Between Korea and Partner Countries

[Asia Economy Reporter Lim Cheol-young] KOICA (Korea International Cooperation Agency) announced on the 24th that it will sign a Memorandum of Understanding (MOU) with the Ministry of Food and Drug Safety (MFDS) at the KOICA headquarters in Seongnam-si, Gyeonggi-do, to cooperate on overseas clinical trials for COVID-19 and support the development of pharmaceuticals.

This MOU was established to support cooperation in the development of treatments and vaccines between Korea and KOICA’s partner countries amid the global spread of COVID-19.

According to the agreement, both organizations will engage in mutual cooperation to overcome COVID-19, ranging from supporting overseas clinical trials conducted in developing countries for the essential development of vaccines and treatments, to strengthening international networks through mid- to long-term development cooperation projects in the pharmaceutical sector.

Furthermore, developing countries facing difficulties due to the spread of COVID-19 will also participate, aiming to further strengthen the international cooperation system against COVID-19 as soon as possible.

The main contents of the agreement between the two organizations include ▲support and consultation for clinical trials conducted in KOICA partner countries to promote the development of COVID-19 treatments and vaccines ▲joint project planning and discovery, joint education, mutual exchange, and information sharing for development cooperation in the pharmaceutical and quasi-drug sectors targeting developing countries.

As a result of this agreement, domestically, it is expected that Korean developers, who are facing difficulties conducting clinical trials for treatments and vaccines due to the decrease in COVID-19 patients, will have a foothold to conduct clinical trials overseas. Additionally, it is anticipated that a comprehensive and proactive cooperation system will be established, advancing development cooperation projects in the pharmaceutical sector between Korea and developing countries.

Im Ki-young, President of KOICA, expressed expectations for cooperation with the MFDS, stating, “To overcome COVID-19, we must support the development of vaccines and treatments as global public goods through development cooperation, while also ensuring that developing countries are not excluded from access to pharmaceuticals.”

This content was produced with the assistance of AI translation services.