1. The Ministry of Foreign Affairs and the Ministry of Health and Welfare will co-host the “2018 K-Pharma & Medical Academy” in Seoul from May 9 to 11.

* K-Pharma & Medical Academy: a program where officials in charge of health and medical policies from other countries are invited to inform them of the ROK’s health and medical system and the strengths of its health industry, and to take them to sites related to the industry.

o The ROK invited Chinese officials in charge of health and medical policies to resume healthcare and medical cooperation between the ROK and China, stalled after the ROK’s decision to deploy THAAD. The upcoming event will serve as an opportunity for exchanges covering not only the pharmaceutical and medical device industries, where cooperation is already underway, but also the medical services sector.

2. In particular, the forthcoming event will take place during the same period as the “BIO KOREA 2018” and “MEDICAL KOREA 2018,”* the largest international conference in the domestic healthcare industry, providing participants with an opportunity to gain a wider range of experiences and expand their networks.

* (time/venue) May 9-11 / COEX and Intercontinental Hotel in Gangnam-gu, Seoul

3. The event will be attended by high-level officials, including those from the Healthcare Quality Commission of China and the National Health and Family Planning Commission, as well as 12 officials in charge of health and medical policies of Guangdong, Hunan and Shandong Provinces.

o In a meeting between government officials of the two sides, they will discuss ways to deepen cooperation between the two countries, including holding events for exchanges* in each region in China, and conducting education programs for Chinese healthcare providers.

* Sichuan Province (Chengdu) in September; Guangdong Province (Guangzhou) and Shandong Province (Qingdao) in October

4. So far, 75 officials in charge of approval and licensing from 13 Latin American countries, including Ecuador and Mexico, have participated in the K-Pharma Academy, which has been carried out every year since 2013, and enhanced their understanding of the ROK’s healthcare policies and related industries.

o This helped build Latin American government officials’ trust in the ROK’s medicines, contributing to making progress in discussions on the simplification of approval and licensing procedures in Latin American countries.

* Ecuador granted automatic approval to Korean medicines (March 2014), Peru added the ROK to the list of the most hygienic countries (April 2015), Mexico increased the period of exemption from mutual GMP (Good Manufacturing Practice) inspections (April 2016), and Argentina agreed to simplify procedures for registration (April 2017).

5. Director-General for Bilateral Economic Affairs of the Foreign Ministry Kim Hee-sang expressed hope that the accomplishments of the K-Pharma Academy, which has played a bridging role in healthcare and medical cooperation between the ROK and Latin America, will also be attained in China.

o He also said that amid the growing cooperation between the ROK and China in various areas after the summit in December last year, the Foreign Ministry will provide necessary diplomatic support to make sure that the upcoming event helps strengthen cooperation between the two countries in the healthcare and medical sector as well.

* unofficial translation