The Ministry of Trade, Industry and Energy (MOTIE) is hosting the Global Bio & Pharma Plaza 2023 (GBPP 2023) from September 14-15 in Jamsil, organized by Korea Trade-Investment Promotion Agency (KOTRA) and the Korea Pharmaceutical Traders Association (KPTA).

Approximately 200 companies, including 100 overseas buyers like Merck and other big pharma companies from 31 countries, gather at the Lotte Hotel World in Jamsil to participate in over 900 export consultations with Korean firms. An Open Innovation Seminar is held on the sidelines where global pharmaceutical and logistics companies introduce collaboration schemes with Korean firms.

On September 14, a contract signing ceremony will be held for KRW 10 million worth of 11 export deals between Korean firms and overseas buyers. Contracts can also be signed on the spot via one-on-one trade consultations. The next day, companies, governments and institutions will gather to attend a global supply chain ecosystem conference for discussions on global supply chain, vaccines, bio, raw and subsidiary materials.

A promotion center for World Expo 2030 Busan will be run on the sidelines, along with a Medistar Initiative promotion center to support 30 promising exporting companies’ export market diversification and global supply chain penetration.

MOTIE’s High Technology Industry Director General Lee Yong-pil emphasized that bio is the up-and-rising “chip” industry of the future and stated that the Ministry will support the overseas market entrance of Korean bio companies by installing a K-Bio Desk per each market hub and expanding Korea’s exhibition booth and participation in major international fairs.