AmCham seminar explores health care as bigger part of Korea

Health care officials from South Korea and the US on Monday gathered in Seoul to discuss the industry’s potential to be a bigger part of the Seoul-Washington alliance during a forum hosted by the American Chamber of Commerce in Korea.

The Healthcare Innovation Seminar is one of the major events organized by AmCham, and the largest policy seminar on the health care industry in South Korea. This year's seminar is titled “The Role of the Healthcare Industry in Facing the Next Frontier of K-Healthcare.”

“US-Korea cooperation has deepened and strengthened in critical industries, such as semiconductors and EVs. I believe it’s time for health care to be a bigger part of the US-Korea alliance,” said Philip Goldberg, US ambassador to South Korea, in his congratulatory remark at the seminar held at Four Seasons Hotel Seoul on Monday.

“As Korea and the US continue to develop digital health solutions, I have no doubt that US firms can leverage their capabilities in software and data solutions to work together to bring more digital health solutions to the world,” he added.

AmCham Chairman James Kim stressed future cooperation between the two countries as well. “The health care industry has spent the past few years coping with the sudden and vast disruptions caused by the COVID-19 pandemic. Now stakeholders from all sides, including government and business, need to band together and strategize a way forward in the next frontier of K-health care.”

The chairman of AmCham expressed hopes that the seminar would continue to serve as a valuable platform where participants from the US and Korean health care industries could seek measures to strengthen cooperation.

For this year’s seminar, AmCham has brought together officials from the government, academia and health industries to explore the latest policy changes relating to the country’s health care industries, as well as international pharmaceutical companies’ ongoing partnerships with Korean companies.

Kim Hye-jin, deputy minister for planning and coordination at the Health Ministry, highlighted the ministry’s 60 billion won ($45 million) Boston-Korea Project, through which the Korean government aims to support health care research between the two countries.

Representatives from international pharmaceutical companies also joined the seminar to share their ongoing collaborations in Korea.

Oh Jin-yong, North Asia Area managing director at Johnson & Johnson MedTech, said, “We are excited to continue our engagement with Korea’s vibrant health care ecosystem, as we recognize its potential to contribute valuable solutions for enhanced patient care worldwide” in his presentation.

Managing Director of MSD Korea Albert Kim noted: “Global pharmaceutical companies that have established a presence in Korea to contribute to the development of the bio-health industry ecosystem by collaborating with local companies across a wide array of areas, ranging from R&D to consignment manufacturing.”