The Korea Pharmaceutical and Bio-Pharma Association said it held its 81st regular general meeting on Feb. 24 at its fourth-floor auditorium in Bangbae-dong, Seoul, approving its 2026 business plan and a budget totaling 11,888.06 million won. It also approved as submitted the appointment of directors and auditors — 48 director companies and two auditor companies — and unanimously passed its 2025 settlement of accounts and amendments to its bylaws.
For 2026, the association said it will push to build a government-industry governance framework to advance discussions on an R&D-linked compensation system and drug pricing policy. It also plans to strengthen ethical management by improving transparency in pharmaceutical sales and marketing, expanding training for contract sales organizations, and promoting a stronger industry compliance culture.
To meet its “Pharma Bio Vision 2030,” the association said it will promote open innovation, accelerate digital transformation and the convergence of new technologies such as artificial intelligence, and expand R&D infrastructure and talent development. It also plans to boost global competitiveness by building support systems for entry into advanced markets, strengthening networks in emerging markets, and expanding global production and training hubs. Priorities also include manufacturing and quality innovation, securing stable drug supply systems, improving investment and manufacturing conditions to spur vaccine development, fostering the raw materials and parts-and-equipment sectors, and diversifying supply chains.
In opening remarks, Chairman Noh Yeon-hong said South Korea’s pharmaceutical and bio industry has achieved qualitative and quantitative growth and reached a turning point. “We will work to build an innovative ecosystem for new drug development, enhance global competitiveness, improve access to medicines and strengthen social responsibility,” he said. Noh added that the association will further reinforce ethical management to be seen as a trusted industry.
At a handover and inauguration ceremony held after the meeting, outgoing board chair Yoon Woong-seop, chairman of Ildong Pharmaceutical, who completed a two-year term, said, “I feel a sense of fulfillment that I was able to be with you in a role dedicated to protecting the industry’s rightful value.”
Incoming board chair Kwon Ki-beom, chairman of Dongkook Pharmaceutical, said in his inaugural address that last year’s results included $13.8 billion in technology exports for new drugs and $10.7 billion in pharmaceutical exports, “a remarkable achievement” representing 65% growth from 2024. He said the industry should maintain the momentum and continue steady growth to achieve more than $50 billion in exports.
Kwon also said he hopes the public and private sectors will work together toward a “global top 7” goal. “Regulation is important and necessary, but I urge that the policy direction’s weight be shifted toward fostering and growing the industry,” he said.
The association also said it held the seventh Korea Pharmacy Awards ceremony jointly with the Korean Pharmaceutical Association and the Korea Pharmaceutical Distribution Association. It selected Yoon Won-young, chairman of Ildong Holdings, as the winner in the pharmaceutical and bio category and presented an award. It also presented a plaque of appreciation to Yoon Seok-geun, chairman of Ilsung IS, who served as the ninth board chair.
* This article has been translated by AI.
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