1. The Ministry of Foreign Affairs, together with the Ministry of Health and Welfare and the Ministry of Food and Drug Safety, announced their plan to jointly hold the 2nd K-Pharma Academy for Latin America for officials in charge of public healthcare policy of the region from May 26 through June 6.

° The event is mainly aimed to help relevant Korean companies enter the Latin American market. To this end, officials who handle public healthcare and issue drug licenses in Latin American countries -- emerging markets for the sectors of public healthcare and medical service -- are invited to the event to better learn about the Republic of Korea’s drug licensing system as well as relevant Korean companies and their products. The upcoming event will mark the second of its kind since the first held in 2013.

2. The K-Pharma Academy, an exemplary government-to-government (G2G) cooperation project of the ROK, was first held in December 2013 for relevant officials of Brazil, Mexico, Peru and Ecuador. It is seen to have contributed greatly to setting up a cooperative channel with the countries in the public healthcare, where there was much room for cooperation between the ROK and the region, and thereby making progress from cooperation in the field.

° Full-fledged cooperation between the ROK and the Latin American countries is under way, as demonstrated by relevant government agencies of the ROK concluding memoranda of understanding with their counterparts of Mexico and Peru.

3. In a bid to reap more results, officials from ten Latin American countries, up from four last year, have been invited to take part in the two-week, compared to one week of last year, K-Pharma Academy event this year. The event will proceed in a way that will help the Latin American officials better learn about the ROK’s public healthcare industry.

° In order to enhance their understanding on the ROK’s licensing system for drugs and medical equipment, the officials will visit relevant organizations and learn about the ROK’s insurance system.

° In addition, they will visit pharmaceutical and medical equipment companies to learn from their quality control system and technology. They will also visit medical facilities to learn about the ROK’s medical examination and other services, including that using information technology.

° The Latin American officials will explain the drug licensing systems of their respective countries to relevant Korean companies considering to enter their markets. They will also hold a business meeting to build networks with Korean companies.

4. The ROK’s government officials expected the upcoming K-Pharma Academy event to positively affect relevant Korean companies’ bids to expand their presence in Latin America.

° They added that as the 2014 event is jointly hosted by the Ministry of Foreign Affairs, the Ministry of Health and Welfare, and the Ministry of Food and Drug Safety, making most of their respective attributes, it is expected to produce great synergy effect. 


                       Spokesperson and Deputy Minister for Public Relations of MOFA

* unofficial translation