Korea Pharmaceutical and Bio-Pharma Association Launches Digital Health Committee... "Leading Role in Digital Healthcare"

Participation of 18 Companies Including Pharmaceutical Firms and Startups
Han Jong-hyun, President of Dongwha Pharm, Appointed as Chairman

The Korea Pharmaceutical and Bio-Pharma Manufacturers Association held the 1st Digital Health Committee meeting on the 23rd at its headquarters in Bangbae-dong, Seocho-gu, Seoul.

[Asia Economy Reporter Lee Gwan-joo] The Digital Health Committee of the Korea Pharmaceutical and Bio-Pharma Manufacturers Association has begun full-scale activities to lead industrial innovation and change, including the development of digital therapeutics (DTx).

The Korea Pharmaceutical and Bio-Pharma Manufacturers Association announced on the 24th that it held the first meeting of the Digital Health Committee on the 23rd at its headquarters in Bangbae-dong, Seocho-gu, Seoul.

The committee saw the participation of a total of 18 pharmaceutical companies and digital health startups, including Dong-A Pharmaceutical, Dongwha Pharm, Baxter, Samjin Pharmaceutical, Anguk Pharm, Yuyoung Pharmaceutical, Jeil Pharm, PharmaResearch, Handok, Hanmi Pharmaceutical, Huons, GC Green Cross, LifeSemantics, Bagel Labs, BigThink, Allround Doctors, AimMed, and Welt. Han Jong-hyun, President of Dongwha Pharm, was appointed as the chairman, while Kyung Dae-sung, Director of Hanmi Pharmaceutical, and Song Seung-jae, CEO of LifeSemantics, were appointed as vice-chairmen. Kang Sung-ji, CEO of Welt, will serve as the secretary.

The committee exchanged broad opinions on various challenges surrounding the establishment and growth of the digital healthcare sector, from establishing identity to entering the healthcare system such as reimbursement application. Above all, there was a consensus that defining the concept of the term ‘digital healthcare’ is urgent, and the committee plans to sequentially review the tasks necessary for industrial growth, including establishing the identity of digital healthcare, to seek solutions.

Furthermore, regarding the definition of digital healthcare, voices were raised that since there are multiple definitions such as conceptual and policy definitions, the association should take the lead in clearly defining the term and publicly declaring it. There was also an opinion that while the existing pharmaceutical market has been led by the US and Europe, Korea should take a leading role in Asia to gain leadership in digital healthcare.

The committee will continue to discuss various issues such as the concept and identity establishment of digital healthcare and discover common tasks. Moreover, through 'open innovation' based on the convergence of the heterogeneous fields of pharmaceuticals and digital health, it plans to create new value in the bio-health sector and promote mutual growth among companies.

Won Hee-mok, Chairman of the Korea Pharmaceutical and Bio-Pharma Manufacturers Association, said, “Digital healthcare is progressing overseas and will receive considerable attention in the future,” adding, “The Digital Health Committee is expected to act as a communicator connecting the government, pharmaceutical companies, and startups.” He continued, “We need to carefully analyze the situation surrounding digital healthcare to increase the future value of the industry and discuss various issues,” and said, “Let’s create new value based on the recognition that there is no future without a paradigm shift.”

Chairman Han Jong-hyun said, “Individual companies have competitiveness in their own fields, but how to institutionalize and cooperate is a challenge,” adding, “The committee will serve as a hub to create opportunities for growth together.”

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