Lee Jae-guk, Vice President of the Korean Pharmaceutical and Bio Association, announced plans to foster an innovative ecosystem that will enable 'K-Pharma' to grow into a global enterprise in the age of artificial intelligence (AI).
Speaking at the 16th Global Healthcare Forum hosted by Aju Economy at the Korea Press Center in Jung-gu, Seoul, on May 14, Lee stated, "The domestic and international pharmaceutical and bio industries are entering a transformative era with the introduction of AI."
He emphasized that global pharmaceutical giants are now in a competitive phase where AI strategies are yielding tangible results.
"AI is changing the paradigm of drug development by being utilized throughout the entire process, from the discovery of drug candidates to the design and execution of clinical trials and regulatory reviews," he explained. "It plays a groundbreaking role in reducing research and development costs and shortening development timelines, and is also recognized as a key growth driver for licensing out and mergers and acquisitions with global big pharma."
Lee further outlined his commitment to supporting the technological growth of the domestic pharmaceutical and bio industry to help it transition into a global player.
He stated, "The association will actively support the AI revolution in K-pharmaceuticals and the establishment of a global value chain based on our accumulated experience through initiatives like the AI Drug Convergence Research Institute and the K-MELLODDY project, a joint R&D effort with the Ministry of Health and Welfare and the Ministry of Science and ICT."
He concluded, "As the pharmaceutical and bio industry is a core strategic sector responsible for public health and the national economy, we will do our utmost to support the global success era of 'K-Pharma' in the AI age."
* This article has been translated by AI.
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