Daewoong Pharmaceutical Expands Open Innovation Globally... "Indonesia as a Southeast Asia Hub"

Presentation screen of Seungho Jeon, CEO of Daewoong Pharmaceutical, at the forum.

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[Asia Economy Reporter Lee Gwan-joo] Daewoong Pharmaceutical announced its global future plan for open innovation based in Indonesia.

On the 15th, Daewoong Pharmaceutical revealed that CEO Jeon Seung-ho participated in real-time online at the investment forum ‘UI Investment & Start Up Forum’ held at the University of Indonesia (UI), introducing the Indonesian business it has been promoting and its future plans.

Daewoong Pharmaceutical was the only company invited from Korea to this forum attended by about 300 people, including government officials such as the Indonesian Minister of Health and Welfare and the Head of the Investment Coordinating Board, key academic figures including the UI President, investors, and local media. At this event, Daewoong Pharmaceutical presented ▲ R&D and open innovation direction ▲ current status of Indonesian business and research ▲ Daewoong Pharmaceutical’s future business plans in Indonesia.

CEO Jeon particularly emphasized Daewoong Pharmaceutical’s global expansion plan for open innovation with Indonesia as a Southeast Asian hub, along with continuous investment in the bio and formulation fields and plans to strengthen cooperation with outstanding talent.

Professor Arry Yanuar, Dean of the UI College of Pharmacy, said, “Through cooperation between Daewoong Pharmaceutical and UI, especially the College of Pharmacy, we plan to engage more actively not only in research but also in social contribution and industry-academia collaboration. We also look forward to cooperation for the development of R&D fields such as the establishment of UI’s new formulation research institute and clinical laboratory projects together with Daewoong Pharmaceutical and the Indonesian government.”

Meanwhile, Daewoong Pharmaceutical is conducting various open innovation projects in Indonesia through its branch office and joint venture Daewoong Infion, including the bio-pharmaceutical business of Epodion (erythropoiesis-stimulating agent) and EasyGF (epidermal growth factor), as well as operating joint research institutes linked with universities.

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