"K-Pharmaceutical and Bio One Team" Launched Through Public-Private Partnership... Accelerating Global Market Entry

by Kwak Minjae

Published 29 Apr.2026 15:36(KST)

The official launch of the “K-Pharmaceutical and Bio One Team” has taken place to strengthen the global competitiveness of Korea’s pharmaceutical and bio industries.

Commemorative photo of the Memorandum of Understanding (MOU) for mutual cooperation in K-pharmaceutical bio global marketing. From left, Myunghee Kim, Vice President of Korea Trade-Investment Promotion Agency, Seunggyu Lee, Vice Chairman of Korea Bio Association, Jaeguk Lee, Vice Chairman of Korea Pharmaceutical and Bio-Pharma Manufacturers Association, and Younghoon Jung, Planning Director of Korea Health Industry Development Institute. Korea Pharmaceutical and Bio-Pharma Manufacturers Association

The Korea Pharmaceutical and Bio-Pharma Manufacturers Association announced on the 29th that it has signed a Memorandum of Understanding (MOU) for mutual cooperation in global marketing of K-pharmaceuticals and bio industries at COEX in Seoul, together with the Korea Health Industry Development Institute, Korea Bio Association, and Korea Trade-Investment Promotion Agency.

This agreement was pursued to provide more systematic support for the overseas expansion of domestic pharmaceutical and bio companies, based on cooperation among institutions under or affiliated with the Ministry of Health and Welfare and the Ministry of Trade, Industry and Energy.

As a result, global support projects that were previously carried out separately by each institution will now be integrated and operated under the “One Team” system, making more efficient and consistent support possible. The Association plans to establish support directions that reflect the needs of companies and to serve as a bridge for public-private cooperation. Additionally, it aims to drive substantial global expansion outcomes by connecting to each institution’s overseas network and support capabilities.

The four organizations will cooperate mainly in the following areas: joint analysis of demand for global market entry, identification and resolution of export challenges, investigation and provision of information on overseas markets and companies, and marketing linked to global exhibitions. They will strengthen a step-by-step and full-cycle support system spanning from establishing entry strategies, finding partners, to commercialization. In particular, they plan to launch full-scale joint projects in conjunction with the BIO International Convention (hereafter “BIO USA”) to be held in San Diego, USA, in June this year.

BIO USA is the world’s largest life science exhibition, where major global pharmaceutical and bio companies and research institutes participate to explore opportunities for new drug pipelines, technology transfer, joint research, and various other collaborations. Notably, this year, more than 250 Korean companies are expected to participate, making it the second-largest contingent after the United States.

The four organizations will jointly support the pharmaceutical and bio companies participating in BIO USA and, together with domestic related organizations, will host a unified “Korea Night” (hereafter, the reception). More than 600 stakeholders from the domestic and international pharmaceutical and bio industries are expected to attend the reception, where they will expand their networks with global companies and investors and strengthen opportunities for open innovation and partnerships for Korean companies. Pre-registration for the reception will be available on the Association’s website starting in early May.

Noh Yunhong, President of the Korea Pharmaceutical and Bio-Pharma Manufacturers Association, stated, “This MOU serves as an opportunity to further advance the global expansion support system for Korea’s pharmaceutical and bio industries,” and added, “Going forward, we will actively support efforts to strengthen corporate competitiveness and elevate the industry’s standing through One Team-based cooperation.”