According to Yonhap News,

On April 23, the Ministry of Trade, Industry and Energy (MOTIE) and the Korea Trade-Investment Promotion Agency (KOTRA), in collaboration with the Korea Pharmaceutical Traders Association, announced that they will hold the 'Southeast Asia Biomedical Export Roadshow' to diversify export markets for the bio industry.

The export roadshow will take place in Kuala Lumpur (Malaysia), and Jakarta (Indonesia) and Manila (the Philippines), with 20 pharmaceutical and medical device companies participating.

Governments in Southeast Asian countries are implementing various policies to expand medical infrastructure and strengthen healthcare systems.

Malaysia is promoting economic growth through medical tourism and bio-industry innovation, while the Philippines is experiencing a rapid increase in demand for chronic diseases treatment such as high blood pressure, diabetes, and cardiovascular diseases.

Indonesia, with a population of 280 million, is seeing a rise in medical care demand due to increasing middle-class incomes.

In response to this demand, 20 small and medium-sized enterprises participating in this event are focused on exports related to aging and chronic disease products, skin and beauty products, and orthopedic surgical and treatment devices. They will meet directly with 100 buyers in the region and conduct a total of 350 business meetings.

Kim Myung-hee, head of KOTRA’s Innovation and Growth Division, stated, "To respond to protectionism in U.S.A., Korean companies must strategically target emerging and promising markets such as Southeast Asia to secure stable overseas markets."



wise@yna.co.kr

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Source: Yonhap News (April 23, 2024)

** This article was translated from Korean.